One of the most unique and concerning features of the recent global recession was the sharp collapse in trade values (see Baldwin 2009).
Trade Prices and the Global Trade Collapse of 2008-2009
Gita Gopinath, Oleg Itskhoki, Brent Neiman, 30 September 2012
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The Great Trade Quantities Collapse
Gita Gopinath, Oleg Itskhoki, Brent Neiman, 28 July 2012
Estimating trade elasticities: Demand composition and the trade collapse of 2008–09
Matthieu Bussière, Fabio Ghironi, Giulia Sestieri, 14 February 2012
South Korea’s temporary trade barriers before and during the crisis
Moonsung Kang, Soonchan Park, 4 September 2011
During the global crisis there was a severe decline in trade known as the Great Trade Collapse (Baldwin 2009). As described by the OECD (2010) and WTO (2010), in 2009 world merchandise exports fell by 12% while world GDP fell by 2.5%. South Korea (hereafter, Korea) was no exception.
International trade finance practices
Pol Antràs, C Fritz Foley, 29 July 2011
During the recent economic crisis, several practitioners claimed that financial constraints contributed to the large decline in global trade flows relative to gross domestic product. Some evidence collected in a survey conducted by the International Chamber of Commerce and in a survey conducted by the IMF and the Banker’s Association for Finance and Trade supported their claims.
Dissecting the effect of credit supply on trade
Daniel Paravisini, Veronica E Rappoport, Philipp Schnabl, Daniel Wolfenzon, 27 July 2011
One of the most striking aspects of the Great Recession was the Great Trade Collapse. According to the IMF Global Data Source, between the first quarter of 2008 and the first quarter of 2009 international trade fell by 15%, while real world GDP fell by 3.7%.
Is protectionism dying?
Uri Dadush, Shimelse Ali, Rachel Esplin Odell, 7 June 2011
Though countries enacted hundreds of protectionist measures during the global financial crisis, only a small part of world trade has been affected – just 0.8% between October 2008 and October 2009 (WTO 2011).
Recovery and beyond: Lessons for trade adjustment and competitiveness
Filippo di Mauro, Benjamin R. Mandel, 5 May 2011
International trade is in the midst of recovery from its precipitous fall during the 2008-2009 global financial crisis (see Baldwin 2009). Are international markets for goods and services snapping back to their pre-crisis state or, alternatively, did the crisis give rise to long-lasting (even permanent) effects?
This time it’s different: Learning from world trade collapses
Peter A.G. van Bergeijk, 22 March 2011
The main problem with the consensus view of the Great Trade Collapse is that the underlying analysis is based on empirical analyses of post Second World War data only, even in studies claiming a “historical perspective” (e.g. Freund 2009 and Hong, Lee and Tang 2009).
Product margin adjustment to crises
Karen-Helene Ulltveit-Moe, Andreas Moxnes, 1 October 2010
The global crisis hit world trade hard – and fast. According to the WTO (2009), in barely a year between early 2008 and early 2009, world trade in manufactures fell by nearly a third.
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