Are emerging markets a threat to jobs and competitiveness for the industrialised countries? This column argues that such concerns are often based on myths. Armed with the facts, policymakers in mature economies should focus on the opportunities emerging markets present rather than viewing them as a threat.
Charles Roxburgh, Richard Dobbs, Jan Mischke, 31 May 2012
Nadia Rocha, Paolo Giordani, Michele Ruta, 09 May 2012
International food prices are on the rise and becoming increasing volatile, reaching crisis levels in recent years. This column argues that one overlooked reason for this is the rise in protectionist policies aimed at restricting food exports.
Chad P. Bown, Meredith Crowley, 28 April 2012
As the global economy entered a crisis not seen since the Great Depression, many feared a return of 1930s-style protectionism. This column asks why many countries avoided this fate, focusing on trade policy in the US and EU.
Andrew K Rose, 27 April 2012
Conventional wisdom says that when the economy starts to nosedive, the trade barriers start to rise. But this column argues that maybe protectionism isn’t countercyclical after all.
John Van Reenen, 17 February 2012
The Great Recession has beckoned the ominous return of protectionism. While not condoning such policies, this column argues that if governments must provide investment subsidies to domestic firms, there is a much larger bang for their buck if they target small businesses rather than larger ones. Cash-strapped governments should take note.
Simon J Evenett, 21 November 2011
The 10th GTA report documents several factors that together imply that the protectionist threat to the world trading system is probably as significant as it was in the first half of 2009, when such concerns were last at their peak.
Simon J Evenett, 25 November 2011
Simon Evenett talks to Viv Davies about the 10th Global Trade Alert report, which concludes that the protectionist threat to the world trading system is as significant now as it was in early 2009. Evenett suggests that there has been considerable resort to the use of non-tariff barriers and more murky forms of protectionism and that countries continue to circumvent WTO rules. He concludes that policymakers have reason to be seriously concerned and that the world trading system may face its greatest test yet in the year ahead. The interview was recorded on 24 November 2011. [Also read the transcript]
Simon J Evenett, 21 November 2011
The last Global Trade Alert report back in July 2011 raised concerns that a deteriorating macroeconomic climate would lead to greater protectionism. The fear has come to pass. This column, which introduces the latest GTA report, shows that the incidence of protectionism in the third quarter of 2011 is as high as during the most troubling of 2009, when protectionist fears were at their peak. Several large trading nations have taken across-the-board measures that adversely affect many trading partners. The world trading system may face its greatest test in the year ahead.
Kishore Gawande, Bernard Hoekman, Yue Cui, 10 November 2011
The Great Trade Collapse of 2008–09 did not give rise to rampant protectionism. This column examines the determinants of the observed pattern of trade-policy responses to the 2008 crisis, using data for seven large emerging markets that have a history of active use of trade policy. Vertical specialisation is found to be the most powerful economic factor determining trade-policy responses.
Anne Krueger, 21 October 2011
Anne Krueger of Johns Hopkins University talks to Romesh Vaitilingam about the issues around globalisation and the crisis covered in her forthcoming book, ‘Struggling with Success: Challenges facing the International Economy’. She discusses the eurozone crisis, US debt issues, the threat of rising protectionism and the role of the multilateral institutions. The interview was recorded at the Global Economic Symposium in Kiel, Germany, in early October 2011. [Also read the transcript.]
Hylke Vandenbussche, Christian Viegelahn, 04 September 2011
Has there been a protectionist backlash by the EU since the outbreak of the global crisis? This column, part of a collection of four columns on trade responses to the crisis, finds that thus far this has not been the case. It does not find any major trade policy changes during the crisis compared with the pre-crisis path.
Piyush Chandra, 04 September 2011
As tariffs have decreased around the world, many countries have started using other measures of protection, such as antidumping duties. This column explores China's imposition of such duties during 1997-2009. It finds that China’s antidumping duties disproportionally targeted high-income countries and were almost all in five sectors – chemicals, paper and pulp, plastics and rubber, steel, and textiles.
Chad P. Bown, 29 August 2011
While the Great Recession has not led to a massive global resort to protectionism, governments have nevertheless been active with their trade policy during the crisis. This column explores how governments adjusted the scale and composition of their temporary trade barriers – antidumping, safeguard, and countervailing-duty policies –during the crisis, as well as how policy use fits recent historical context and creates the need for post-crisis policy reform.
Simon J Evenett, 22 July 2011
Simon Evenett of the University of St Gallen talks to Viv Davies about the 9th Global Trade Alert report, which suggests that G20 governments’ resolve to resist protectionism has faltered since the Seoul summit. Evenett describes murky protectionism, the impact of the crisis on the BRICs and the least developed countries, and how WTO rules are being circumvented. The interview was recorded in London on 18 July 2011. [Also read the transcript.]
Simon J Evenett, 20 July 2011
Despite the public commitments made at the Seoul G20 summit, this year protectionism has slipped off the work programme of G20 nations. The latest evidence published in the 9th Report of the Global Trade Alert, summarised here, shows that government resolve against protectionism has weakened as global economic prospects have dimmed. The global trading system is not out of the protectionist woods.
Simon J Evenett, 20 July 2011
The 9th GTA report shows that the pick-up in protectionism since the Seoul G20 summit coincides with the deterioration in economic sentiment.
Cecília Hornok, 09 July 2011
Trade barriers that delay transactions are like sand in the wheels of a global economy in which firms trade frequently and international production is fragmented. This column presents evidence showing how the elimination of border controls and customs procedures within the EU has contributed to faster trade, lower trade costs, and larger cross-country trade.
Holger Görg, Christiane Krieger-Boden, 09 June 2011
The global financial crisis has raised the threat of protectionism. This column argues that the worst offenders will suffer a drop in foreign direct investment inflows.
Uri Dadush, Shimelse Ali, Rachel Esplin Odell, 07 June 2011
The limited resort to protectionism during the financial crisis is often attributed to the WTO or to sensible macroeconomic policy. This column argues that there is more to the story. The combination of national laws, regional agreements, and powerful interest groups has worked to stop protectionism in its tracks.
Andrew K Rose, Tomasz Wieladek, 29 May 2011
During the global crisis governments made substantial interventions in financial markets, particularly in the banking sector. This column argues that one unintended consequence of bank nationalisations has been to reduce cross-border lending. After nationalisation, foreign banks reduced British lending as a share of total lending by about 11 percentage points and increased interest rates to UK residents by 70 basis points. This suggests foreign nationalised banks have engaged in financial protectionism.