Determinants of trade-policy responses to the 2008 financial crisis

Kishore Gawande, Bernard Hoekman, Yue Cui 10 November 2011

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The “Great Trade Collapse” that occurred between the second quarter of 2008 and the third quarter of 2009 was the steepest fall of world trade in recorded world history. Despite the trade collapse, the 2008 crisis and its recessionary aftermath did not fuel widespread protectionism.

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Topics:  International trade

Tags:  tariffs, protectionism, vertical specialisation