The Critical Success of the WTO: Trade Policies of the Current Economic Crisis
This note addresses the trade policy measures states have taken during the current economic crisis and makes comparison with those taken during the Great Depression. While significant protectionist pressures are evident in both crises, the note finds that WTO Members have largely resisted broad protectionist measures and that the further decline in global trade volume during 2009 cannot be attributed to discretionary trade policies. Given these observations, the note suggests four elements of the multilateral trading system that preserve the system's integrity and ensure that the WTO passes its most significant stress test yet. Based on these four elements--economic efficiency, transparency, enforceability, and stability--the note recommends normative principles applicable to all regulation of international economic relations. Oxford University Press 2010, all rights reserved, Oxford University Press.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 13 (2010)
Issue (Month): 2 (June)
|Contact details of provider:|| Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK|
Fax: 01865 267 985
Web page: http://www.jiel.oupjournals.org/
|Order Information:||Web: http://www.oup.co.uk/journals|
When requesting a correction, please mention this item's handle: RePEc:oup:jieclw:v:13:y:2010:i:2:p:475-495. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.