Trade and economic effects of responses to the economic crisis.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development.

Series:

OECD trade policy studies.

OECD trade policy studies, 1990-1542

Language:

English

Subjects (All):

Global Financial Crisis, 2008-2009.

International economic relations.

Physical Description:

1 online resource (130 p.)

Place of Publication:

[Paris] : OECD Pub., 2010.

Language Note:

English

Summary:

The dramatic collapse in world trade in 2009 is, this report shows, mainly due to: the drop in demand for highly traded products; the drying up of trade finance; and the vertically integrated nature of global supply chains. Contrary to expectations, protectionist measures were relatively muted and did not play a significant part. In fact, because of their sheer size, stimulus measures may have had more impact on trade than direct trade policy measures Nevertheless, dollar for dollar, direct trade restricting measures have the most strongly negative impacts on growth and employment: a one dollar increase in tariff revenues results in a USD 2.16 drop in world exports and a USD 0.73 drop in world income. The analyses presented here suggest that exit strategies from measures to deal with the crisis will be most effective in boosting growth and jobs if they first roll back measures that discriminate between domestic and foreign firms and those that target specific sectors. General demand stimulus measures and active labour market policies are preferable under current conditions.

Contents:

Executive summary

Summary, Conclusions and Recommendations

Foreword

Annex D. Additional Tables in Support of Chapter 3

Annex E. Statistical Decomposition of Policy Effectiveness Indicators

References

Annex C. Short-term trade finance and its impact on trade: Evidence from panel data and time series

Conclusions: Towards a roadmap for policy design

Annex B. Additional Tables and Figures in Support of Chapter 2

Annex A. Quantitative Analysis in Support of Chapter 2

Policy Responses to the Economic Crisis

Explaining the 2008-09 “Trade Collapse”

The Trade and Economic Effects of Crisis Response Measures.

Notes:

Also available in French: Effets sur l'economie et le commerce des reponses a la crise economique.

Includes bibliographical references (p. 123-126).

ISBN:

1-282-79754-9

9786612797545

92-64-08843-1

OCLC:

669921987