Citation

Discussion Paper Details

Please find the details for DP8687 in an easy to copy and paste format below:

Full Details   |   Bibliographic Reference

Full Details

Title: Did WTO rules restrain protectionism during the recent systemic crisis?

Author(s): Simon J Evenett

Publication Date: December 2011

Keyword(s): crisis, protectionism and WTO

Programme Area(s): International Trade and Regional Economics

Abstract: This paper challenges the contention that WTO rules had much impact on state behaviour during the recent global economic crisis. Evidence on the variety of discrimination implemented by governments, characteristics of the recent systemic crisis, as well as on certain, often overlooked features of WTO obligations are used to support a conclusion that the WTO rules altered at most the composition of crisis-era protectionism. As to the quantum of protectionism, it is unclear how WTO rules could have prevented many governments from adopting tariff increases on the scale of the Smoot Hawley tariff. Pessimistic implications are drawn concerning the future restraining role that multilateral trade obligations could ever play during systemic economic crises. Realistically, the fate of the open world trading system must rely on other incentives to refrain from protectionism.

For full details and related downloads, please visit: https://cepr.org/active/publications/discussion_papers/dp.php?dpno=8687

Bibliographic Reference

Evenett, S. 2011. 'Did WTO rules restrain protectionism during the recent systemic crisis?'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=8687