Not only is it hazardous to characterize an inward-oriented country as interventionist and an outward-oriented country as liberal, but the characterization is simply wrong for developing countries. Whether a country intervenes does not tell the whole story about its trade policy, and misses an essential aspect of intervention: which goods are favored by subsidies and which are protected by tariffs.
Not only is it hazardous to characterize an inward-oriented country as interventionist and an outward-oriented country as liberal, but the characterization is simply wrong for developing countries. Whether a country intervenes does not tell the whole story about its trade policy, and misses an es...