The collapse in trade and the contraction of output that occurred during 2008–9 was comparable to, and in many countries more severe than, the Great Depression of the 1930s. However, it did not give rise to the rampant protectionism that followed the Great Crash. The idea that the rise in the fragmentation of production across global value chains – vertical specialization – may be a deterrent against protectionism is under appreciated in the literature...
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INFORMATION
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2014/01/23
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Article de revue
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112419
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1
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1
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2017/03/01
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Disclosed
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Global supply chains and trade policy responses to the 2008 crisis
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baseline model
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