Economic History Working Papers No. 57 - Protectionism in the 1930s: a brief history of a Trade Policy Disaster

27 January 2026

The Economic History Working Papers No. 57 - 'Protectionism in the 1930s: a brief history of a Trade Policy Disaster', is now online.

The recent trend toward protectionist policies harks back to the 1930s, when rising trade barriers coincided with a dramatic collapse in international trade. This paper reviews recent studies on the interwar experience, reconstructing the series of trade restrictions introduced after 1929 and assessing their macroeconomic and geopolitical impact. While protectionism - principally aimed at preserving fixed exchange rates under the gold standard - was not the main driver of the Great Depression, it did exacerbate and prolong the crisis. Trade protectionism also had severe geopolitical effects, contributing to the deterioration of international relations and the formation of autarkic economic blocs, particularly in countries with authoritarian regimes.

Annexes

  1. 27 January 2026
    No. 57 - Protectionism in the 1930s: a brief history of a Trade Policy Disaster
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    (only in Italian)