Some economic historic perspectives on the 2009 world trade collapse
The paper puts the collapse of the world trade volume in 2009 into two historic perspectives. First, the paper analyses 18 major post-1980/pre-2007 financial crises and uses these observations as a basis to critically evaluate presently available projections for world trade. Second, the paper takes into account the developments in the world's trade volume and openness since 1880. Next to the direct impact of the present financial crisis on trade, potential second order effects on economic growth and international political relations are identified.
|Keywords||World trade, depression, financial crisis, import crunch, trade and conflict|
|JEL||Global Outlook (jel F01), Trade: General (jel F10), Financial Crises (jel G01)|
|Publisher||Erasmus University Rotterdam|
|Series||ISS Staff Group 1: Economics of Sustainable Development|
|Journal||ISS Working Paper Series / General Series|
van Bergeijk, P.A.G. (2009). Some economic historic perspectives on the 2009 world trade collapse. ISS Working Paper Series / General Series (Vol. 476, pp. 1–17). Erasmus University Rotterdam. Retrieved from http://hdl.handle.net/1765/18287