Question

How important were domestic political institutions in shaping the outcomes of the Tariff on Corn lawns? answer in depth.

Answer 1

Answer.

The outcomes of trade policy are dependent on many things. Domestic political institutions are one of the most important things in shaping the outcomes of trade policy. Mostly it depends on the institutional structure and the authority it has been granted with. Policy chosen by the government directly influences the trade outcomes for e.g. tariff policies of the government influences the surpluses and revenues of the trade agents and government. With the domestic political institutions, international laws also affect the trade outcomes of a particular country.