The Great Trade Collapse: Causes, Consequences and Prospects
Author: Richard E. Baldwin
Publisher: CEPR
Published: 2009
Total Pages: 246
ISBN-13: 1907142061
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The Collapse of Global Trade, Murky Protectionism, and the Crisis
Author: Richard E. Baldwin
Publisher:
Published: 2011-03
Total Pages: 112
ISBN-13: 9781907142239
DOWNLOAD EBOOKThe global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.
World Economic Outlook, April 2009
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
Published: 2009-04-22
Total Pages: 252
ISBN-13: 1589068068
DOWNLOAD EBOOKThis edition of the World Economic Outlook explores how a dramatic escalation of the financial crisis in September 2008 provoked an unprecedented contraction of activity and trade, despite active policy responses. It presents economic projections for 2009 and 2010, and also looks beyond the current crisis, considering factors that will shape the landscape of the global economy over the medium term, as businesses and households seek to repair the damage. The analysis also outlines the difficult policy challenges presented by the overwhelming imperative to take all steps necessary to restore financial stability and revive the global economy, and the longer-run need for national actions to be mutually supporting. The first of two analytical chapters, "What Kind of Economic Recovery?" explores the shape of the eventual recovery. The second, "The Transmission of Financial Stress from Advanced to Emerging and Developing Economies," focuses on the role of external financial linkages and financial stress in transmitting economic shocks.
Estimating Trade Elasticities
Author: Jaime Marquez
Publisher: Springer Science & Business Media
Published: 2013-03-14
Total Pages: 147
ISBN-13: 1475735367
DOWNLOAD EBOOKOne cannot exaggerate the importance of estimating how international trade responds to changes in income and prices. But there is a tension between whether one should use models that fit the data but that contradict certain aspects of the underlying theory or models that fit the theory but contradict certain aspects of the data. The essays in Estimating Trade Elasticities book offer one practical approach to deal with this tension. The analysis starts with the practical implications of optimising behaviour for estimation and it follows with a re-examination of the puzzling income elasticity for US imports that three decades of studies have not resolved. The analysis then turns to the study of the role of income and prices in determining the expansion in Asian trade, a study largely neglected in fifty years of research. With the new estimates of trade elasticities, the book examines how they assist in restoring the consistency between elasticity estimates and the world trade identity.
The Global Trade Slowdown
Author: Cristina Constantinescu
Publisher: International Monetary Fund
Published: 2015-01-21
Total Pages: 44
ISBN-13: 1498399134
DOWNLOAD EBOOKThis paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on an error correction model to assess whether the global trade slowdown is structural or cyclical. An estimate of the relationship between trade and income in the past four decades reveals that the long-term trade elasticity rose sharply in the 1990s, but declined significantly in the 2000s even before the global financial crisis. These results suggest that trade is growing slowly not only because of slow growth of Gross Domestic Product (GDP), but also because of a structural change in the trade-GDP relationship in recent years. The available evidence suggests that the explanation may lie in the slowing pace of international vertical specialization rather than increasing protection or the changing composition of trade and GDP.
Trade Finance during the Great Trade Collapse
Author: Jean-Pierre Chauffour
Publisher: World Bank Publications
Published: 2011-06-22
Total Pages: 433
ISBN-13: 0821387499
DOWNLOAD EBOOKThis volume provides insights on the role of trade finance in the 2008-2009 ?Great Trade Collapse" and the subsequent role of governments and institutions to help restore trade finance markets. It is the product of a fruitful collaboration between the World Bank Group, international financial partners, private banks, and academia.
Foreign Exchange Value of the Dollar
Author:
Publisher:
Published: 1984
Total Pages: 32
ISBN-13:
DOWNLOAD EBOOKThe Slowdown in Global Trade: A Symptom of A Weak Recovery
Author: Aqib Aslam
Publisher: International Monetary Fund
Published: 2017-11-15
Total Pages: 37
ISBN-13: 1484328981
DOWNLOAD EBOOKGlobal trade growth has slowed since 2012 relative both to its strong historical performance and to overall economic growth. This paper aims to quantify the role of weak economic growth and changes in its decomposition in accounting for the slowdown in trade using a reduced form and a structural approach. Both analytical investigations suggest that the overall weakness in economic activity, particularly investment, has been the primary restraint on trade growth, accounting for over 80 percent of the decline in the growth of the volume of goods trade between 2012–16 and 2003–07. However, other factors are also weighing on trade in recent years, especially in emerging market and developing economies, as evidenced by the non-negligible role attributed to trade costs by the structural approach.
A Decade after the Global Recession
Author: M. Ayhan Kose
Publisher: World Bank Publications
Published: 2021-03-19
Total Pages: 475
ISBN-13: 1464815283
DOWNLOAD EBOOKThis year marks the tenth anniversary of the 2009 global recession. Most emerging market and developing economies weathered the global recession relatively well, in part by using the sizable fiscal and monetary policy ammunition accumulated during prior years of strong growth. However, their growth prospects have weakened since then, and many now have less policy space. This study provides the first comprehensive stocktaking of the past decade from the perspective of emerging market and developing economies. Many of these economies have now become more vulnerable to economic shocks. The study discusses lessons from the global recession and policy options for these economies to strengthen growth and prepare for the possibility of another global downturn.
The Great Recession and Import Protection
Author: Chad P. Bown
Publisher: Centre for Economic Policy Research
Published: 2011
Total Pages: 469
ISBN-13: 9781907142383
DOWNLOAD EBOOKThis volume provides empirical details of how the import protection landscape changed alongside the events of the 2008-9 economic crisis.
