Campbell, Douglas L., Jacks, David, Meissner, Christopher M. and Novy, Dennis (2009) What's driving the trade collapse? [Digital Scholarly Resource]

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Abstract

Trade has declined massively during the crisis. This column assesses the relative roles of falling demand and rising trade costs in explaining the collapse and compares it to the Great Depression. Surprising, the increase in trade costs today is as large as in 1929, despite the absence of any modern protectionism resembling Smoot-Hawley. It appears that reviving global demand alone will be insufficient to revive world trade.

Item Type:	Digital Scholarly Resource
Subjects:	H Social Sciences > HB Economic Theory
Divisions:	Faculty of Social Sciences > Economics
Publisher:	Vox EU
Date:	19 September 2009
Publication Status:	Published
Media of Output:	Online
Access rights to Published version:	Open Access
URI:	http://wrap.warwick.ac.uk/id/eprint/44812

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