The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 1/2023. Issues of Economic theory.

Maltsev Andrey A.

Dr. Sci. (Econ.), Professor, Leading Researcher at the Institute of Economics of the Ural Branch of the Russian Academy of Sciences, Ekaterinburg, Russia

Chichilimov Sergey V.

graduate student, Institute of Economics of the Ural Branch of the Russian Academy of Sciences, Ekaterinburg, Russia

TO THE QUESTION OF THE EVOLUTION OF THE OPPOSITION OF FREE TRADE AND PROTECTIONISM IN THE 20TH AND 21TH CENTURY

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Abstract

The 20th century was marked by the emergence and formation of new economic centers of power in the world economy. This is where a combination of factors came into play. Firstly, with the acceleration of economic development and the massification of industry and consumption in the 1920s, the need to find new markets increased. Secondly, fundamental technical, economic and social shifts in society brought to life the first (1870–1913) and second (1950–2010) waves of globalization. Thirdly, the process of decolonization of the world economy, which ended by 1975, formed the demand for a self-sufficient and independent economic policy of the Third World countries. As a result, the Great Modern Stage (GMS, 1920s–2020s) took shape, its main distinguishing feature, according to the authors, being coexistence of free trade and protectionism, which had previously successively replaced each other in the world economic practice.

Keywords: globalization, international trade, world economy, protectionism, free trade, hidden protectionism, economic thought.

JEL: F02, F41, F55.

EDN: CXEVFE

DOI: https://doi.org/10.52180/2073-6487_2023_1_21_39

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Manuscript submission date: 07.11.2022

For citation:

Maltsev A.A., Chichilimov S.V. To the question of the evolution of the opposition of free trade and protectionism in the 20th and 21th century // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2023. № 1. Pp. 21-39. DOI: https://doi.org/10.52180/2073-6487_2023_1_21_39 EDN: CXEVFE

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