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- Title
The global financial crisis and protectionism: Substitution from tariffs to non‐tariff measures.
- Authors
Heo, Inae; Choi, Bo‐Young
- Abstract
This study empirically investigates the relationships between tariffs and non‐tariff measures before and after the global financial crisis (GFC). The panel analysis is based on traded products of 70 countries from 1997 to 2015. For developed countries, we find that tariffs and non‐tariff measures were complementary before the crisis, but they became substitutional afterward. We do not find such shift for developing countries. We also run the analysis by income levels and by types of products and observe differential effects of the GFC on the relationship between the two trade policies.
- Subjects
GLOBAL Financial Crisis, 2008-2009; TARIFF; PROTECTIONISM; PANEL analysis; DEVELOPED countries
- Publication
Bulletin of Economic Research, 2023, Vol 75, Issue 4, p880
- ISSN
0307-3378
- Publication type
Article
- DOI
10.1111/boer.12386