The history of international economics is a period in which liberalism and protectionism stand out from time to time. While the economic crisis in 2008 has caused that protectionism point of view has increased in the world, the policies of the countries has brought about that this period is called as a new mercantilist era. In this study, the development of the protectionist movement over time has been investigated in the present day, where the crisis still has its effects and non-tariff barriers are intensely applied. It is very common that many traces of protectionism in the past and even today of the developed countries such as the United States, China, England, Germany and Japan. Therefore, this issue is important for both developing and underdeveloped countries to learn from the process.
The main aim of this study is to emphasize the historical importance of protectionism in foreign trade and reveal its necessity. In this sense, the objectives and tools of protectionism are briefly introduced; new protectionism is also underlined. In this paper, the effects of global financial crisis on protectionism are also emphasized. Turkish economy has been examined in addition to the countries whose development levels are high and it has been concluded that the policies of protectionism have positive effects on the levels of development in these countries.
Keywords: Protectionism, development, crisis, trade, tariff