Saez, Sebastian2012-08-132012-08-132009-07https://hdl.handle.net/10986/11113The global economic crisis has triggered rapid responses by governments worldwide to counteract its domestic effects, through fiscal stimulus packages, expansionary monetary policies, and financial bailouts. Ad hoc trade policy measures are increasingly being put in place. All countries share the responsibility of preserving a stable and predictable trade policy environment. To this end, trade policies must contribute to maintaining an open trading system consistent with World Trade Organization (WTO) principles. With the sharp decline in global merchandise trade volumes, expected to fall by 9 percent in 2009, countries have resorted to an array of measures to counter the detrimental effects of the crisis on their respective economies. Because this decline is a consequence of a deterioration of global demand, trade measures are not an effective response to this problem. On the contrary, policies that contribute to an open and stable trading system are the best policy option for the world community, especially in the current context.CC BY 3.0 IGOAGRICULTURAL PRODUCTIONAGRICULTURAL PRODUCTSAGRICULTURAL SUBSIDIESAGRICULTUREANTIDUMPINGANTIDUMPING DUTYANTIDUMPING MEASURESAPPLIED TARIFFBARRIERS TO IMPORTSCOUNTERVAILING DUTIESCUSTOMSCUSTOMS DUTYDEVELOPED COUNTRIESDEVELOPING COUNTRIESDEVELOPMENT ROUNDDOMESTIC INDUSTRIESDOMESTIC INDUSTRYDOMESTIC PRODUCERSDUTY DRAWBACKECONOMIC CRISISECONOMIC POLICYEUROPEAN UNIONEXPORT COMPETITIVENESSEXPORT RESTRICTIONSEXPORT SUBSIDIESEXPORTSFINANCIAL SECTORFISCAL POLICYFOREIGN COMPETITORSFREE PROVISIONSGLOBAL TRADEGLOBAL TRADINGGLOBAL TRADING SYSTEMIMPORT PROTECTIONIMPORT RESTRICTIONSINCOME DISTRIBUTIONINTERNATIONAL ORGANIZATIONSINTERNATIONAL PRICESINTERNATIONAL RULESINTERNATIONAL TRADEINVESTMENT FLOWSLDCSLEGAL REQUIREMENTSMARKET ACCESSMINISTERIAL MEETINGMONETARY POLICIESNEGATIVE IMPACTPOLICY MEASURESPOLICY OPTIONPOLICY REFORMSPOLICY RESEARCHPOVERTY REDUCTIONPROTECTIONISMPROTECTIONISTPROTECTIONIST MEASURESPROTECTIONIST PRESSUREREAL INCOMEREGIONAL TRADEREGIONAL TRADE AGREEMENTSROUND NEGOTIATIONSRULES OF ORIGINSAFEGUARD ACTIONSSAFEGUARD MEASURESSUBSIDY PROGRAMSTARIFF BINDINGSTARIFF RATESTRADE BARRIERSTRADE COSTSTRADE DISTORTIONTRADE FACILITATIONTRADE FLOWSTRADE IN GOODSTRADE IN SERVICESTRADE MEASURESTRADE POLICIESTRADE POLICYTRADE POLICY ENVIRONMENTTRADE PREFERENCESTRADE PROTECTIONTRADE REMEDIESTRADE VOLUMESTRADING PARTNERSTRADING SYSTEMTRANSACTIONS COSTSVOLUNTARY EXPORT RESTRAINTSWORLD ECONOMYWORLD TRADEWORLD TRADE ORGANIZATIONWTOWTO AGREEMENTWTO AGREEMENTSWTO COMMITMENTSWTO MEMBERSWTO PRINCIPLESWTO RULESWorld Bank10.1596/11113