Datt, MohiniHoekman, BernardMalouche, Mariem2012-08-132012-08-132011-12https://hdl.handle.net/10986/10068The onset of the financial crisis in September 2008 and the subsequent 'Great Trade Collapse' (Baldwin 2009), many countries actively used trade policy instruments as part of their response to the global recession. Governments pursued a mix of trade liberalization, trade promotion, and trade restrictions. The choice of trade policy has varied, with limited use of tariff hikes or antidumping and safeguard actions. Sector-specific support to industries dominated initial responses to the crisis, and there has been increasing resort to nontariff measures. Recent research suggests that vertical specialization the growth in global supply chains has played a significant role in limiting the use of traditional protectionist instruments. Pressures on governments to support domestic economic activity may increase, given current gloomy economic prospects and more binding macroeconomic policy constraints, and the number of protectionist measures has recently risen. Open trade cannot be taken for granted, thus the need for monitoring persists.CC BY 3.0 IGOAD VALOREMAGRICULTUREANTIDUMPINGAPPLIED TARIFFAVERAGE TARIFFSBILATERAL TRADEBILATERAL TRADE DATABORDER MEASURESCAPITAL GOODSCOMMODITYCOMMODITY PRICECOMPETITIVENESSCONSUMER GOODSCOUNTERVAILING DUTIESCURRENCYCURRENCY APPRECIATIONCUSTOMSCUSTOMS UNIONDEVELOPED COUNTRIESDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPING ECONOMIESDISPUTE SETTLEMENTDOMESTIC INDUSTRIESDOMESTIC INDUSTRYDOMESTIC MARKETSEMERGING ECONOMIESEMERGING MARKETEUROPEAN UNIONEXPORT BANSEXPORT INCENTIVESEXPORT MARKETSEXPORT QUOTASEXPORT RESTRICTIONSEXPORT TAXESEXPORT VOLUMEEXPORTERSEXPORTSFINANCIAL CRISISFOOD PRICEFOREIGN COMPETITIONFOREIGN FIRMSFOREIGN SUPPLIERSGLOBAL TRADEGLOBAL TRADINGIMPACT OF TRADEIMPORT BANSIMPORT LICENSINGIMPORT PROTECTIONIMPORT QUOTASIMPORT RESTRICTIONSIMPORT TARIFFSIMPORTED PRODUCTSIMPORTSINCOMEINCOME GROUPINSTITUTIONAL CAPACITYINTERMEDIATE GOODSINTERMEDIATE INPUTSINTERNATIONAL TRADINGINTERNATIONAL TRADING ENVIRONMENTMACROECONOMIC CONDITIONSMACROECONOMIC POLICYMIDDLE-INCOME COUNTRIESMIDDLE-INCOME ECONOMIESNATIONAL INDUSTRIESNATURAL DISASTERSNATURAL RESOURCESOPEN TRADEPANEL STAGEPOLICY MAKERSPOLICY RESEARCHPOLITICAL ECONOMYPREFERENTIAL TRADEPREFERENTIAL TRADE AGREEMENTSPRICE INCREASESPRICE SUPPORTPROTECTION MEASURESPROTECTIONISMPROTECTIONISTPROTECTIONIST MEASURESREGIONAL TRADEREGIONAL TRADE AGREEMENTSRETALIATORY MEASURESSAFEGUARD ACTIONSTARIFF DATATARIFF EQUIVALENTTARIFF LINESTARIFF RATESTARIFF REDUCTIONTARIFF REDUCTIONSTAXTAX CREDITSTRADE ALERTTRADE BARRIERSTRADE COSTSTRADE EFFECTTRADE EFFECTSTRADE FACILITATIONTRADE FLOWSTRADE LIBERALIZATIONTRADE MEASURESTRADE PARTNERTRADE PARTNERSTRADE POLICIESTRADE POLICYTRADE POLICY INSTRUMENTSTRADE PREFERENCETRADE PROMOTIONTRADE RESTRICTIONSTRADE VOLUMETRADE VOLUMESTRANSPARENCYUNEMPLOYMENTUNEMPLOYMENT RATESVERTICAL SPECIALIZATIONWORLD ECONOMYWORLD TRADEWORLD TRADE ORGANIZATIONWTOZERO TARIFFSWorld Bank10.1596/10068