Emerging Economies, Trade Policy, and Macroeconomic Shocks

doi:10.1016/j.jdeveco.2014.05.001

Publication:
Emerging Economies, Trade Policy, and Macroeconomic Shocks

dc.contributor.author	Bown, Chad P.
dc.contributor.author	Crowley, Meredith A.
dc.date.accessioned	2015-02-05T23:07:19Z
dc.date.available	2015-02-05T23:07:19Z
dc.date.issued	2014-05-09
dc.description.abstract	This paper estimates the impact of aggregate fluctuations on the time-varying trade policies of thirteen major emerging economies over 1989–2010; by 2010, these WTO member countries collectively accounted for 21% of world merchandise imports and 22% of world GDP. We examine determinants of carefully constructed, bilateral measures of new import restrictions on products arising through the temporary trade barrier (TTB) policies of antidumping, safeguards, and countervailing duties. We find evidence of a counter-cyclical relationship between macroeconomic shocks and new TTB import restrictions as well as an important role for fluctuations in bilateral real exchange rates. Furthermore, the trade policy responsiveness coinciding with WTO establishment in 1995 suggests a significant change relative to the pre-WTO period; i.e., new import restrictions became more counter-cyclical and sensitive to real exchange rate shocks over time. Finally, we also present results that explicitly address changes to the institutional environment facing these emerging economies as they joined the WTO and adopted disciplines to restrain their application of other trade policies such as applied import tariffs.	en
dc.identifier.citation	Journal of Development Economics
dc.identifier.doi	10.1596/21413
dc.identifier.issn	0304-3878
dc.identifier.uri	https://hdl.handle.net/10986/21413
dc.language.iso	en_US
dc.publisher	Elsevier
dc.rights	CC BY-NC-ND 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.subject	Antidumping
dc.subject	Safeguards
dc.subject	Temporary trade barriers
dc.subject	Emerging economies
dc.subject	Tariffs
dc.subject	WTO
dc.subject	Business cycles
dc.subject	Exchange rates
dc.title	Emerging Economies, Trade Policy, and Macroeconomic Shocks	en
dc.type	Journal Article	en
dc.type	Article de journal	fr
dc.type	Artículo de revista	es
dspace.entity.type	Publication
okr.date.disclosure	2015-01-09
okr.date.doiregistration	2025-05-06T11:16:11.716635Z
okr.doctype	Publications & Research
okr.doctype	Publications & Research::Journal Article
okr.externalcontent	External Content
okr.globalpractice	Trade and Competitiveness
okr.globalpractice	Macroeconomics and Fiscal Management
okr.identifier.doi	10.1016/j.jdeveco.2014.05.001
okr.journal.nbpages	261-73
okr.language.supported	en
okr.peerreview	Academic Peer Review
okr.relation.associatedurl	http://www.sciencedirect.com/science/article/pii/S0304387814000522
okr.relation.associatedurl	https://openknowledge.worldbank.org/handle/10986/12178
okr.topic	International Economics and Trade::Competition Policy
okr.topic	International Economics and Trade::Rules of Origin
okr.topic	International Economics and Trade::Trade Policy
okr.topic	International Economics and Trade::Trade and Multilateral Issues
okr.topic	International Economics and Trade::World Trade Organization
okr.topic	Macroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topic	Macroeconomics and Economic Growth::Economic Theory & Research
okr.unit	Development Research Group, Trade and International Integration (DECTI)
okr.volume	111(November 2014)
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