Crisis-era protectionism and the multilateral governance of trade: an assessment

Simon Evenett and David Vines

Oxford Review of Economic Policy, 2012, vol. 28, issue 2, 195-210

Abstract: This paper examines the multilateral governance of trade along with the prospects for its meaningful reform, in the light of recent, crisis-era discrimination against the many types of cross-border commerce. Prior episodes of protectionism provide a useful benchmark. The findings are not optimistic. The current set of multilateral rules is incomplete, has weak incentives for compliance, and can be readily circumvented. Only a far-reaching revision of these rules could induce more restraint. Copyright 2012, Oxford University Press.

Date: 2012
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