This paper analyses drivers of imports during the major world trade collapses of the Great Depression (1930s; 34 countries) and the Great Recession (1930s; 173 countries). The analysis deals with the first year of these episodes and develops a small empirical model that shows a significant impact of the development of GDP, the share of manufacturing goods in total imports and the political system. The analysis reveals substantial heterogeneity with respect to regional importance of these drivers.

Additional Metadata
Keywords trade collapse, heterogeneity, resilience, political system, Great Depression, Great Recession
Publisher International Institute of Social Studies of Erasmus University (ISS)
Persistent URL hdl.handle.net/1765/77862
Series ISS Working Papers - General Series
Journal ISS Working Paper Series / General Series
Citation
van Bergeijk, P.A.G. (2015). The heterogeneity of world trade collapses (No. 606). ISS Working Paper Series / General Series (Vol. 606, pp. 1–32). International Institute of Social Studies of Erasmus University (ISS). Retrieved from http://hdl.handle.net/1765/77862