What results? China has suceeded by establishing barriers of entry to goods at first? We suceeeded by out own use of tarrifs that allowed American Industry the breathing room it needed to expand in the 19th century. I am hardly arguing for Autarky.
US industry succeeded despite the tariffs, not thanks to them. China had sluggish growth with tariffs, and then became successful when it opened up the economy under Deng Xiaoping: its particularly warped logic to judge that as a success of the earlier regime. Equally, India still has very high tariffs and has a growth rate a fraction of China's. The rest of the former European colonies had similar experiences in the 1970s: once the commodities boom ended, growth stayed weak until they converted to free trade.
Brad DeLong:
This paper carries a well-known message: America’s high late nineteenth-century tariffs did not accelerate economic growth, or enhance America’s standard of living. It is, nevertheless, a message that needs to be reiterated for two reasons..."
...The second reason for this paper is the growth of a current of thought holding that America’s high late nineteenth-century tariffs were very good thing for growth. That this current is weak in academic economics departments is no reason for ignoring it: academic economists’ “market share” in our society’s knowledge of and debate over the economy and economic policy is much less than it used to be. Today a good journalist like James Fallows plays a larger role in shaping popular, élite, and political visions of economic policy as Robert Solow or Robert Lucas.
i.e. The idea that tariffs were beneficial is popular among journalists and historians but does not have any support among actual economists, who spend time looking at the actual numbers.
Jeffrey Williamson:
Does protection help growth? While theory may be ambiguous, late 20th century evidence certainly is not. This evidence can be found in four kinds of studies.
First, the authors of a large National Bureau of Economic Research project assessed trade and exchange-control regimes in the 1960s and 1970s by making classic partial-equilibrium calculations of deadweight losses (Bhagwati and Krueger 1973-1976). They concluded that the barriers imposed significant costs in all but one case...
Second, analysts have contrasted the growth performance of relatively open with relatively closed economies. The World Bank has conducted such studies for 41 countries going back before the first oil shock. The correlation between trade openness and growth is abundantly clear in these studies (Lindert and Williamson 2001: Table 3)...
Third, there are country event studies, where the focus is on periods when trade policy regimes change dramatically enough to see their effect on growth. For example, Anne Krueger (1983, 1984) looked at trade opening moments in South Korea around 1960, Brazil and Colombia around 1965, and Tunisia around 1970. Growth improved after liberalization in all four cases. More recently, David Dollar and Aart Kraay (2000) examined the reforms and trade liberalizations of 16 countries in the 1980s and 1990s, finding, once again, the positive correlation between freer trade and faster growth...
Fourth, macro-econometric analysis has been used in an attempt to resolve the doubts left by simpler historical correlations revealed by the other three kinds of studies. This macro-econometric literature shows that free trade policies have had a positive effect on growth in the late 20th century, especially with many other relevant influences held constant.
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