What's driving the trade collapse?
Campbell, Douglas L., Jacks, David, Meissner, Christopher M. and Novy, Dennis (2009) What's driving the trade collapse? [Digital Scholarly Resource]Full text not available from this repository.
Official URL: http://www.voxeu.org/index.php?q=node/3998
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|
|Date:||19 September 2009|
|Media of Output:||Online|
|Access rights to Published version:||Open Access|
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