Transformations  in
Business & Economics

PROTECTIONISM IN TRADE POLICY IN XXI CENTURY
Boguslawa Drelich-Skulska, Malgorzata Domiter

ABSTRACT. Protectionism is a phenomenon that has been observed in the global economy for many centuries. Arguments based on national rationality, forming the basis for shaping the protectionist trade policy, appeared even in the case of the biggest advocates of free trade and were often prioritised over arguments based on global rationality. This was especially true in times of worse economic conditions in the global economy. The scientific goal of the article is, based on the theoretical achievements, justification for the use of protectionism tools in contemporary trade policy in countries with various levels of economic development. Strategic trade policy and new industrial policy are the concepts of modern trade policy that emerged in connection with the globalisation of the management process, growing competition from emerging economies and the global economic crisis of 2007/2008+. On the basis of the conducted research, it can be stated that virtually every country supported or supports fledgling industries and the development of industries considered to be modern. The choice of protectionist policy tools depends on the level of economic development and the degree of government involvement in the implemented development policy.

KEYWORDS:  protectionism, strategic trade policy, industrial policy.

JEL classification:  F13, L50, O25, O24.