TRADE AND THE CRISIS: PROTECT OR RECOVER

Rob Gregory, Christian Henn, Brad McDonald () and Mika Saito
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Rob Gregory: Strategy, Policy, and Review Department, International Monetary Fund, 700 19th Street, NW, Washington, D.C., 20431, USA
Christian Henn: Strategy, Policy, and Review Department, International Monetary Fund, 700 19th Street, NW, Washington, D.C., 20431, USA
Brad McDonald: Strategy, Policy, and Review Department, International Monetary Fund, 700 19th Street, NW, Washington, D.C., 20431, USA

Journal of International Commerce, Economics and Policy (JICEP), 2010, vol. 01, issue 02, 165-181

Abstract: We show that new trade restrictions implemented since the onset of the global financial crisis have had — in the limited products targeted — a strong distortionary impact on trade. Their aggregate impact is modest, however, as most countries have resisted a widespread resort to protectionism. Looking ahead, sustained high unemployment, uneven growth, and an unwinding of government stimulus measures suggest that protectionist pressures may rise. Continuing and further enhancing monitoring of all protectionist measures will help, but the surest way to avoid such a downside scenario is to tighten multilateral trade commitments by completing the World Trade Organization (WTO) Doha Round.

Keywords: Protectionism; transparency; WTO; F02; F13; F40 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (15)

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Working Paper: Trade and the Crisis: Protect or Recover (2010)
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DOI: 10.1142/S1793993310000111

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