Protectionism Isn?t Counter-Cyclic (anymore)

Andrew Rose

No 8937, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: Conventional wisdom holds that protectionism is counter-cyclic; tariffs, quotas and the like grow during recessions. While that may have been a valid description of the data before the Second World War, it is no longer accurate. In the post-war era, protectionism has not actually moved counter-cyclically. Tariffs and non-tariff barriers do not systematically rise during cyclic downturns; if anything, they tend to fall. I document this new stylized fact with a wide panel of data, using a variety of measures of protectionism and business cycles. I also provide some hints as to why protectionism is no longer counter-cyclic.

Keywords: Barrier; Business cycle; Data; Empirical; International; Panel; Policy; Recession; Tariff; Trade (search for similar items in EconPapers)
JEL-codes: E32 F13 (search for similar items in EconPapers)
Date: 2012-04
New Economics Papers: this item is included in nep-mac
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Working Paper: Protectionism Isn't Counter‐Cyclic (anymore) (2012)
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