Taking Stock of Trade Protectionism Since 2008

Taking Stock of Trade Protectionism Since 2008

The onset of the financial crisis in September 2008 and the subsequent 'Great Trade Collapse' (Baldwin 2009), many countries actively used trade policy instruments as part of their response to the global recession. Governments pursued a m...

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Bibliographic Details
Main Authors:	Datt, Mohini, Hoekman, Bernard, Malouche, Mariem
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	AD VALOREM AGRICULTURE ANTIDUMPING APPLIED TARIFF AVERAGE TARIFFS BILATERAL TRADE BILATERAL TRADE DATA BORDER MEASURES CAPITAL GOODS COMMODITY COMMODITY PRICE COMPETITIVENESS CONSUMER GOODS COUNTERVAILING DUTIES CURRENCY CURRENCY APPRECIATION CUSTOMS CUSTOMS UNION DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DISPUTE SETTLEMENT DOMESTIC INDUSTRIES DOMESTIC INDUSTRY DOMESTIC MARKETS EMERGING ECONOMIES EMERGING MARKET EUROPEAN UNION EXPORT BANS EXPORT INCENTIVES EXPORT MARKETS EXPORT QUOTAS EXPORT RESTRICTIONS EXPORT TAXES EXPORT VOLUME EXPORTERS EXPORTS FINANCIAL CRISIS FOOD PRICE FOREIGN COMPETITION FOREIGN FIRMS FOREIGN SUPPLIERS GLOBAL TRADE GLOBAL TRADING IMPACT OF TRADE IMPORT BANS IMPORT LICENSING IMPORT PROTECTION IMPORT QUOTAS IMPORT RESTRICTIONS IMPORT TARIFFS IMPORTED PRODUCTS IMPORTS INCOME INCOME GROUP INSTITUTIONAL CAPACITY INTERMEDIATE GOODS INTERMEDIATE INPUTS INTERNATIONAL TRADING INTERNATIONAL TRADING ENVIRONMENT MACROECONOMIC CONDITIONS MACROECONOMIC POLICY MIDDLE-INCOME COUNTRIES MIDDLE-INCOME ECONOMIES NATIONAL INDUSTRIES NATURAL DISASTERS NATURAL RESOURCES OPEN TRADE PANEL STAGE POLICY MAKERS POLICY RESEARCH POLITICAL ECONOMY PREFERENTIAL TRADE PREFERENTIAL TRADE AGREEMENTS PRICE INCREASES PRICE SUPPORT PROTECTION MEASURES PROTECTIONISM PROTECTIONIST PROTECTIONIST MEASURES REGIONAL TRADE REGIONAL TRADE AGREEMENTS RETALIATORY MEASURES SAFEGUARD ACTIONS TARIFF DATA TARIFF EQUIVALENT TARIFF LINES TARIFF RATES TARIFF REDUCTION TARIFF REDUCTIONS TAX TAX CREDITS TRADE ALERT TRADE BARRIERS TRADE COSTS TRADE EFFECT TRADE EFFECTS TRADE FACILITATION TRADE FLOWS TRADE LIBERALIZATION TRADE MEASURES TRADE PARTNER TRADE PARTNERS TRADE POLICIES TRADE POLICY TRADE POLICY INSTRUMENTS TRADE PREFERENCE TRADE PROMOTION TRADE RESTRICTIONS TRADE VOLUME TRADE VOLUMES TRANSPARENCY UNEMPLOYMENT UNEMPLOYMENT RATES VERTICAL SPECIALIZATION WORLD ECONOMY WORLD TRADE WORLD TRADE ORGANIZATION WTO ZERO TARIFFS
Online Access:	http://documents.worldbank.org/curated/en/2011/12/15535482/taking-stock-trade-protectionism-2008 http://hdl.handle.net/10986/10068

Description
Summary:	The onset of the financial crisis in September 2008 and the subsequent 'Great Trade Collapse' (Baldwin 2009), many countries actively used trade policy instruments as part of their response to the global recession. Governments pursued a mix of trade liberalization, trade promotion, and trade restrictions. The choice of trade policy has varied, with limited use of tariff hikes or antidumping and safeguard actions. Sector-specific support to industries dominated initial responses to the crisis, and there has been increasing resort to nontariff measures. Recent research suggests that vertical specialization the growth in global supply chains has played a significant role in limiting the use of traditional protectionist instruments. Pressures on governments to support domestic economic activity may increase, given current gloomy economic prospects and more binding macroeconomic policy constraints, and the number of protectionist measures has recently risen. Open trade cannot be taken for granted, thus the need for monitoring persists.

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