Trade and the Crisis: Protect or Recover

Journal of International Commerce, Economics and Policy (JICEP), Vol. 1, No. 2, 2010

Posted: 30 May 2011

See all articles by Rob Gregory

Rob Gregory

International Monetary Fund (IMF)

Christian Henn

International Monetary Fund

Brad McDonald

International Monetary Fund

Mika Saito

International Monetary Fund (IMF)

Multiple version iconThere are 2 versions of this paper

Date Written: October 1, 2010

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

JEL Classification: F02, F13, F40

Suggested Citation

Gregory, Rob and Henn, Christian and McDonald, Brad and Saito, Mika, Trade and the Crisis: Protect or Recover (October 1, 2010). Journal of International Commerce, Economics and Policy (JICEP), Vol. 1, No. 2, 2010. Available at SSRN: https://ssrn.com/abstract=1854141

Rob Gregory (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Christian Henn

International Monetary Fund ( email )

700 19th St NW
Washington, DC 20431
United States

Brad McDonald

International Monetary Fund ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Mika Saito

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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