In his regular column, Economics 101 in The National, Dr. Omar Al-Ubaydli questions whether there is an argument to be made for using time-limited tariffs as a way to develop nascent industries.

Economists typically criticise import tariffs, because they result in higher prices for consumers.The Arabian Gulf countries have generally subscribed to this view. However, as the Gulf countries look to diversify their economies, is it time to consider imposing temporary tariffs to develop domestic industries? A new paper by Reka Juhasz (Columbia University, US) suggests that this may be the case……

Read full article here.