Managing Trade Policy During the Economic Crisis

The global economic crisis has triggered rapid responses by governments worldwide to counteract its domestic effects, through fiscal stimulus packages, expansionary monetary policies, and financial bailouts. Ad hoc trade policy measures are increasingly being put in place. All countries share the responsibility of preserving a stable and predictable trade policy environment. To this end, trade policies must contribute to maintaining an open trading system consistent with World Trade Organization (WTO) principles. With the sharp decline in global merchandise trade volumes, expected to fall by 9 percent in 2009, countries have resorted to an array of measures to counter the detrimental effects of the crisis on their respective economies. Because this decline is a consequence of a deterioration of global demand, trade measures are not an effective response to this problem. On the contrary, policies that contribute to an open and stable trading system are the best policy option for the world community, especially in the current context.

Bibliographic Details

Main Author:	Saez, Sebastian
Format:	Brief biblioteca
Language:	English
Published:	World Bank, Washington, DC 2009-07
Subjects:	AGRICULTURAL PRODUCTION, AGRICULTURAL PRODUCTS, AGRICULTURAL SUBSIDIES, AGRICULTURE, ANTIDUMPING, ANTIDUMPING DUTY, ANTIDUMPING MEASURES, APPLIED TARIFF, BARRIERS TO IMPORTS, COUNTERVAILING DUTIES, CUSTOMS, CUSTOMS DUTY, DEVELOPED COUNTRIES, DEVELOPING COUNTRIES, DEVELOPMENT ROUND, DOMESTIC INDUSTRIES, DOMESTIC INDUSTRY, DOMESTIC PRODUCERS, DUTY DRAWBACK, ECONOMIC CRISIS, ECONOMIC POLICY, EUROPEAN UNION, EXPORT COMPETITIVENESS, EXPORT RESTRICTIONS, EXPORT SUBSIDIES, EXPORTS, FINANCIAL SECTOR, FISCAL POLICY, FOREIGN COMPETITORS, FREE PROVISIONS, GLOBAL TRADE, GLOBAL TRADING, GLOBAL TRADING SYSTEM, IMPORT PROTECTION, IMPORT RESTRICTIONS, INCOME DISTRIBUTION, INTERNATIONAL ORGANIZATIONS, INTERNATIONAL PRICES, INTERNATIONAL RULES, INTERNATIONAL TRADE, INVESTMENT FLOWS, LDCS, LEGAL REQUIREMENTS, MARKET ACCESS, MINISTERIAL MEETING, MONETARY POLICIES, NEGATIVE IMPACT, POLICY MEASURES, POLICY OPTION, POLICY REFORMS, POLICY RESEARCH, POVERTY REDUCTION, PROTECTIONISM, PROTECTIONIST, PROTECTIONIST MEASURES, PROTECTIONIST PRESSURE, REAL INCOME, REGIONAL TRADE, REGIONAL TRADE AGREEMENTS, ROUND NEGOTIATIONS, RULES OF ORIGIN, SAFEGUARD ACTIONS, SAFEGUARD MEASURES, SUBSIDY PROGRAMS, TARIFF BINDINGS, TARIFF RATES, TRADE BARRIERS, TRADE COSTS, TRADE DISTORTION, TRADE FACILITATION, TRADE FLOWS, TRADE IN GOODS, TRADE IN SERVICES, TRADE MEASURES, TRADE POLICIES, TRADE POLICY, TRADE POLICY ENVIRONMENT, TRADE PREFERENCES, TRADE PROTECTION, TRADE REMEDIES, TRADE VOLUMES, TRADING PARTNERS, TRADING SYSTEM, TRANSACTIONS COSTS, VOLUNTARY EXPORT RESTRAINTS, WORLD ECONOMY, WORLD TRADE, WORLD TRADE ORGANIZATION, WTO, WTO AGREEMENT, WTO AGREEMENTS, WTO COMMITMENTS, WTO MEMBERS, WTO PRINCIPLES, WTO RULES,
Online Access:	http://documents.worldbank.org/curated/en/2009/07/11362161/managing-trade-policy-during-economic-crisis http://hdl.handle.net/10986/11113
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