Is Protectionism on the Rise? Assessing National Trade Policies during the Crisis of 2008
To understand the role of trade policies
in the crisis of 2008, this paper constructs the overall
trade restrictiveness indices for a wide range of countries
using their tariff schedules in 2008 and 2009. The index
summarizes the trade policy stance of a country, taking into
account the share of each good in trade as well as its
corresponding import demand elasticity. Results show that
there is no widespread increase in protectionism via tariff
policies since the global financial crisis has unfolded.
While many countries have adjusted tariffs upward on
selected products, only a handful of countries, such as
Malawi, Russia, Argentina, Turkey and China focus on
products that have significant impacts on trade flows. The
United States and the European Union, by contrast, rely
mainly on anti-dumping duties to shield domestic industries.
Overall, while the rise in tariffs and anti-dumping duties
in these countries may have jointly caused global trade to
drop by as much as US$43 billion during the crisis period,
it explains less than 2 percent of the collapse in world trade.
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Bibliographic Details
| Main Authors: |
Kee, Hiau Looi,
Neagu, Cristina,
Nicita, Alessandro |
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| Language: | English |
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| Published: |
2010-04-01
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| Subjects: | AD VALOREM,
AGGREGATE IMPORTS,
AGRICULTURAL PRODUCTS,
AGRICULTURAL SECTOR,
AGRICULTURE,
ANTI-DUMPING CASES,
ANTI-DUMPING DUTIES,
ANTIDUMPING,
ANTIDUMPING DUTIES,
BASE YEAR,
BILATERAL TRADE,
BILATERAL TRADE AGREEMENTS,
BILATERAL TRADE DATA,
CHANGES IN TRADE,
DEMAND ELASTICITIES,
DEMAND ELASTICITY,
DEMAND SHOCKS,
DOMESTIC INDUSTRIES,
DOMESTIC MARKET,
DOMESTIC PRODUCERS,
DUMPING,
ECONOMIC CRISIS,
ECONOMIC POLICY,
ELASTICITY,
EQUILIBRIUM,
EUROPEAN UNION,
EXPORTS,
FINANCIAL CRISIS,
GDP,
GLOBAL TRADE,
IMPORT VALUE,
IMPORTED ITEMS,
IMPORTED PRODUCTS,
IMPORTS,
INTERNATIONAL BANK,
INTERNATIONAL ECONOMICS,
INTERNATIONAL TRADE,
ITC,
LOCAL CONTENT,
MFN,
OPENNESS,
POLICY RESEARCH,
PROTECTIONISM,
PROTECTIONIST,
PROTECTIONIST DEVICE,
REGIONAL TRADE,
REGIONAL TRADE AGREEMENTS,
TARIFF CHANGES,
TARIFF POLICIES,
TARIFF SCHEDULES,
TRADE CENTER,
TRADE DATA,
TRADE DISTORTIONS,
TRADE FLOWS,
TRADE MEASURES,
TRADE POLICIES,
TRADE POLICY,
TRADE POLICY INSTRUMENTS,
TRADE PROTECTION,
TRADE REMEDIES,
TRADE VALUE,
TRADING PARTNERS,
TRADING SYSTEM,
UNEMPLOYMENT,
VERTICAL SPECIALIZATION,
WORLD PRICES,
WORLD TRADE,
WORLD TRADE ORGANIZATION,
WTO, |
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100419121819
https://hdl.handle.net/10986/3761
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