The Great Recession and Import Protection : The Role of Temporary Trade Barriers

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collection.link.227
https://openknowledge.worldbank.org/handle/10986/13538
collection.name.227
Books published externally
dc.contributor.author
Bown, Chad P.
dc.contributor.editor
Bown, Chad P.
dc.date.accessioned
2013-12-05T15:32:44Z
dc.date.available
2013-12-05T15:32:44Z
dc.date.issued
2011
dc.date.lastModified
2021-04-23T14:03:28Z
dc.description.abstract
The great recession of 2008-9 caused a negative shock to the global economy that is comparable with the great depression of the 1930s. The major advanced nations experienced painful economic contraction, severe dislocation to industrial production and sharp spikes in unemployment. Trade flows collapsed across all the regions of the world. The rest of this introductory chapter proceeds as follows. Next, the report provide a more detailed timeline and summary of events in the great recession, including its macroeconomic and trade impacts, the uncertainty over trade policy in 2008-9, and the response to calls for additional monitoring of trade policy. In particular, section one highlight the real time monitoring efforts of the World Bank's global antidumping database and subsequent temporary trade barriers (TTBs) database. These contributions have addressed some of the immediate concern about the unknown scale of protectionism taking place in 2008-9, but they have also revealed a lack of informational preparedness that has ultimately spurred this volume's research. In section two, the author introduce a relatively simple methodological framework to improve intertemporal assessment of the scope of TTB use, an approach that many of the volume's chapters adopt or modify to construct better measures of the 'stock' and 'flow' of imported products that countries subject to TTBs. (A more technical description of the methodology is provided in the Appendix (section six), along with details of the many common data sources used across the subsequent chapters.) What are the empirical results? Section three provides a simple application of this methodology and finds that, during the crisis, these economies collectively increased by 25 percent the imported products that they subjected to TTB import protection. Nevertheless, it turns out this collective expansion in TTB coverage during 2008-9 was dominated by emerging economies. Developing countries used TTBs to cover 39 percent more imported products by the end of 2009 compared with 2007, whereas recession-ravaged high-income economies surprisingly increased their coverage by only 4 percent. However, it is also clear from the data that understanding these crisis changes demands recognition of longer term trends. Thus, given these high-level results, Section 4 turns to a number of common questions that the subsequent chapters investigate, on an economy-by-economy basis, in more detail. This section provides a short preview of how the volume's authors subsequently address these questions by placing the trade policy changes of 2008-9 into historical context. Section five then concludes.
en
dc.identifier.isbn
978-1-907142-38-3
dc.identifier.uri
http://hdl.handle.net/10986/16359
dc.language.iso
en_US
dc.publisher
London: Centre for Economic Policy Research and the World Bank
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
trade barriers
dc.subject
anti-dumping
dc.subject
economic crisis
dc.subject
temporary trade barriers
dc.subject
TTBs
dc.subject
countervailing duties
dc.subject
CVDs
dc.subject
safeguards
dc.subject
Temporary Trade Barriers Database
dc.title
The Great Recession and Import Protection : The Role of Temporary Trade Barriers
en
okr.date.disclosure
2011-11-04
okr.doctype
Publications & Research :: Publication
okr.externalcontent
External Content
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.report
65453
okr.language.supported
en
okr.region.country
South Africa
okr.region.country
Turkey
okr.region.country
Mexico
okr.region.country
Argentina
okr.region.country
Brazil
okr.region.country
India
okr.region.country
China
okr.region.country
Korea, Rep. of
okr.region.country
Canada
okr.region.country
United States
okr.region.geographical
European Union
okr.theme
Trade and integration :: Other trade and integration
okr.topic
International Economics and Trade :: Foreign Trade Promotion and Regulation
okr.topic
International Economics and Trade :: International Trade and Trade Rules
okr.topic
International Economics and Trade :: Trade Liberalization
okr.topic
Macroeconomics and Economic Growth :: Business Cycles and Stabilization Policies
okr.topic
Macroeconomics and Economic Growth :: Economic Stabilization
okr.unit
DECRG: Trade & Intl. Integration (DECTI)

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