Publication:
Emerging Economies, Trade Policy, and Macroeconomic Shocks

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dc.contributor.authorBown, Chad P.
dc.contributor.authorCrowley, Meredith A.
dc.date.accessioned2013-01-28T21:37:20Z
dc.date.available2013-01-28T21:37:20Z
dc.date.issued2013-01
dc.description.abstractThis paper estimates the impact of aggregate fluctuations on the time-varying trade policies of 13 major emerging economies over 1989-2010. By 2010, these World Trade Organization member countries collectively accounted for 21 percent of world merchandise imports and 22 percent of world gross domestic product. The paper examines 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. The approach explicitly addresses 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. The paper presents evidence of a counter-cyclical relationship between macroeconomic shocks and new TTB import restrictions in addition to an important role for fluctuations in bilateral real exchange rates. Furthermore, for the subset of major Group of 20 emerging economies, 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 over time. Finally, the paper documents evidence on changes to some of these empirical relationships coinciding with the Great Recession.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/01/17172402/emerging-economies-trade-policy-macroeconomic-shocks
dc.identifier.doi10.1596/1813-9450-6315
dc.identifier.urihttps://hdl.handle.net/10986/12178
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 6315
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectANTIDUMPING
dc.subjectANTIDUMPING CASES
dc.subjectANTIDUMPING DUTIES
dc.subjectANTIDUMPING FILINGS
dc.subjectANTIDUMPING POLICY
dc.subjectAPPLIED TARIFF
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE OF PAYMENTS DIFFICULTIES
dc.subjectBANK POLICY
dc.subjectBILATERAL EXCHANGE RATE
dc.subjectBILATERAL IMPORTS
dc.subjectBILATERAL TRADE
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESS CYCLES
dc.subjectCHANGES IN TRADE
dc.subjectCOMPETITIVENESS
dc.subjectCONSUMERS
dc.subjectCONTROL VARIABLE
dc.subjectCOUNTRY FIXED EFFECTS
dc.subjectCOUNTRY TARIFF
dc.subjectCURRENCY
dc.subjectCURRENCY APPRECIATION
dc.subjectCURRENCY APPRECIATIONS
dc.subjectCURRENCY DEPRECIATION
dc.subjectCURRENCY DEPRECIATIONS
dc.subjectCURRENCY PEG
dc.subjectCURRENCY REGIME
dc.subjectCURRENCY REGIMES
dc.subjectDEPENDENT VARIABLE
dc.subjectDEPENDENT VARIABLES
dc.subjectDEPRECIATIONS
dc.subjectDEPRESSION
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDEVELOPMENT POLICY
dc.subjectDOMESTIC CURRENCY
dc.subjectDOMESTIC ECONOMY
dc.subjectDOMESTIC UNEMPLOYMENT
dc.subjectDUMPING
dc.subjectECONOMETRIC ANALYSIS
dc.subjectECONOMETRIC MODELS
dc.subjectECONOMIC DOWNTURNS
dc.subjectECONOMIC FLUCTUATIONS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC RESEARCH
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING ECONOMY
dc.subjectEMERGING MARKETS
dc.subjectEQUILIBRIUM
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE FLUCTUATIONS
dc.subjectEXCHANGE RATE INCREASES
dc.subjectEXCHANGE RATE MANAGEMENT
dc.subjectEXCHANGE RATE REGIME
dc.subjectEXCHANGE RATE REGIMES
dc.subjectEXPLANATORY VARIABLE
dc.subjectEXPLANATORY VARIABLES
dc.subjectEXPORTER
dc.subjectEXPORTS
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE BANK
dc.subjectFINANCIAL CRISIS
dc.subjectFIXED EFFECTS
dc.subjectFIXED EXCHANGE RATES
dc.subjectFLEXIBLE EXCHANGE RATE
dc.subjectFLEXIBLE EXCHANGE RATE REGIME
dc.subjectFLOATING CURRENCIES
dc.subjectFLOATING CURRENCY
dc.subjectFLOATING EXCHANGE RATE
dc.subjectFLOATING EXCHANGE RATE REGIME
dc.subjectFLOATING EXCHANGE RATE REGIMES
dc.subjectFLOATING REGIME
dc.subjectFLOATING REGIMES
dc.subjectFOREIGN FIRMS
dc.subjectFUTURE GROWTH
dc.subjectFUTURE RESEARCH
dc.subjectGDP
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL TRADE
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH RATE
dc.subjectHIGH-INCOME COUNTRIES
dc.subjectIMPACT OF SHOCKS
dc.subjectIMPERFECT COMPETITION
dc.subjectIMPORT
dc.subjectIMPORT BARRIERS
dc.subjectIMPORT DUTY
dc.subjectIMPORT GROWTH
dc.subjectIMPORT PRODUCTS
dc.subjectIMPORT PROTECTION
dc.subjectIMPORT RESTRICTION
dc.subjectIMPORT RESTRICTIONS
dc.subjectIMPORT TARIFF
dc.subjectIMPORT TARIFFS
dc.subjectIMPORTS
dc.subjectINCOME
dc.subjectINDICATOR VARIABLE
dc.subjectINDICATOR VARIABLES
dc.subjectINSTITUTIONAL ENVIRONMENT
dc.subjectINSTRUMENT
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL CURRENCY
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectINTERNATIONAL ECONOMY
dc.subjectINTERNATIONAL TRADE
dc.subjectLIBERALIZATION
dc.subjectMACROECONOMIC DATA
dc.subjectMACROECONOMIC FACTORS
dc.subjectMACROECONOMIC FLUCTUATIONS
dc.subjectMACROECONOMIC SHOCK
dc.subjectMACROECONOMIC SHOCKS
dc.subjectMACROECONOMIC VARIABLES
dc.subjectMARKET POWER
dc.subjectMONETARY POLICY
dc.subjectNEGATIVE SHOCK
dc.subjectNEW PRODUCT
dc.subjectOIL IMPORTS
dc.subjectOPTIMAL TARIFFS
dc.subjectOUTSTANDING STOCK
dc.subjectPATENTS
dc.subjectPEG
dc.subjectPOLICY RESPONSES
dc.subjectPOLITICAL ECONOMY
dc.subjectPROTECTIONISM
dc.subjectREAL APPRECIATION
dc.subjectREAL APPRECIATIONS
dc.subjectREAL DEPRECIATION
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL EXCHANGE RATE APPRECIATION
dc.subjectREAL EXCHANGE RATE APPRECIATIONS
dc.subjectREAL EXCHANGE RATE MOVEMENTS
dc.subjectREAL EXCHANGE RATES
dc.subjectREAL GDP
dc.subjectREAL IMPORT
dc.subjectRECESSION
dc.subjectRECESSIONS
dc.subjectREGIME SWITCH
dc.subjectRESPONSE TO SHOCKS
dc.subjectRETURN
dc.subjectROBUSTNESS CHECKS
dc.subjectSLOWDOWN
dc.subjectSLOWDOWNS
dc.subjectSTANDARD DEVIATION
dc.subjectSTANDARD DEVIATIONS
dc.subjectTARIFF DATA
dc.subjectTARIFF INCREASE
dc.subjectTARIFF INCREASES
dc.subjectTARIFF LEVELS
dc.subjectTARIFF POLICIES
dc.subjectTARIFF POLICY
dc.subjectTARIFF RATE
dc.subjectTARIFF RATES
dc.subjectTARIFF REDUCTIONS
dc.subjectTRADE AGREEMENT
dc.subjectTRADE AGREEMENTS
dc.subjectTRADE BARRIER
dc.subjectTRADE BARRIERS
dc.subjectTRADE FLOWS
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE POLICIES
dc.subjectTRADE POLICY
dc.subjectTRADE POLICY INSTRUMENTS
dc.subjectTRADE PROTECTION
dc.subjectTRADE RESTRICTIONS
dc.subjectTRADE VOLUMES
dc.subjectTRADING
dc.subjectTRADING PARTNER
dc.subjectTRADING PARTNERS
dc.subjectTRADING SYSTEM
dc.subjectTRANSITORY SHOCKS
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNILATERAL LIBERALIZATION
dc.subjectWELFARE GAINS
dc.subjectWORLD ECONOMY
dc.subjectWORLD TRADE
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleEmerging Economies, Trade Policy, and Macroeconomic Shocksen
dspace.entity.typePublication
okr.crossref.titleEmerging Economies, Trade Policy, and Macroeconomic Shocks
okr.date.disclosure2013-01-01
okr.date.doiregistration2025-04-10T12:13:01.695629Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2013/01/17172402/emerging-economies-trade-policy-macroeconomic-shocks
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid100541468160517839
okr.identifier.doi10.1596/1813-9450-6315
okr.identifier.externaldocumentum000158349_20130115094320
okr.identifier.internaldocumentum17172402
okr.identifier.reportWPS6315
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/01/15/000158349_20130115094320/Rendered/PDF/wps6315.pdfen
okr.relation.associatedurlhttps://openknowledge.worldbank.org/handle/10986/21413
okr.sectorIndustry and trade :: Other domestic and international trade
okr.themeTrade and integration :: Trade facilitation and market access
okr.topicInternational Economics and Trade::Free Trade
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicEconomic Theory and Research
okr.topicPrivate Sector Development::Emerging Markets
okr.topicMacroeconomics and Economic Growth
okr.volume1 of 1
relation.isAuthorOfPublication43c30b7b-e371-51e8-a4ad-3c2c7db7fe4d
relation.isAuthorOfPublication0e58594f-d395-5bb2-aca8-57831545c506
relation.isAuthorOfPublication.latestForDiscovery0e58594f-d395-5bb2-aca8-57831545c506
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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