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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Local Content Requirements: A Global Problem

Local Content Requirements: A Global Problem

Cimino-Isaacs, Cathleen
Hufbauer, Gary Clyde
Schott, Jeffrey

Paperback

Series: Policy Analyses in International Economics, Book 102

Economics

ISBN10: 0881326801
ISBN13: 9780881326802
Publisher: Peterson Inst For Intl Economi
Published: Oct 5 2013
Pages: 212
Weight: 0.75
Height: 0.60 Width: 6.00 Depth: 8.90
Language: English

In the wake of the Great Recession of 2008-09, economists feared that protectionist policies might sweep the world economy, echoing the wave of tariff escalations during the Great Depression of the 1930s. To some surprise, officials were more restrained and largely avoided traditional forms of protection (tariffs and quotas). As a result, economists underestimated the incidence of new protectionism because policymakers increasingly turned to more opaque behind-the-border nontariff barriers (NTBs).

Using a combination of statistical analysis and case studies, the authors show that local content requirements (LCRs), a form of NTB, have become increasingly popular. How much was global trade actually reduced on account of LCRs? A conservative estimate might be $93 billion. Case studies featured cover the healthcare sector in Brazil, wind turbines in Canada, the automobile industry in China, solar cells and modules in India, oil and gas in Nigeria, and Buy American restrictions on government procurement.

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