The heterogeneity of world trade collapses
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.
|Keywords||trade collapse, heterogeneity, resilience, political system, Great Depression, Great Recession|
|Publisher||International Institute of Social Studies of Erasmus University (ISS)|
|Series||ISS Working Papers - General Series|
|Journal||ISS Working Paper Series / General Series|
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