NDLI: Explaining the 2008-09 "Trade Collapse"

Content Provider	OECD iLibrary
Organization	OECD
Abstract	The collapse in trade during late 2008 and early 2009 has been severe both in absolute terms and relative to the fall in GDP. This triggered concerns that there might be particular factors affecting trade during the crisis, including worries about protectionism. Evidence presented here shows that the severity of the 2008-09 trade "collapse" was not unprecedented after all. To a large extent the collapse in trade was a consequence of: (1) The collapse in domestic demand though the consequences of falling demand reached some economies because of their trade links; (2) the disproportionate fall in output and trade of capital goods that make up a larger share of trade than of GDP; and, (3) the temporary drying up (and subsequently lower availability and higher cost) of short-term trade finance. The paper argues that the increasing importance of intermediate inputs in world trade flows cannot explain why the fall in trade was much larger than the fall in GDP, though it can explain why the share of trade in GDP has increased. It also explains, at least in part, the highly synchronised nature of the trade collapse.
Page Count	19
Starting Page	17
Ending Page	35
Language	English
Publisher	OECD Publishing
Publisher Date	2010-08-26
Access Restriction	Open
Subject Keyword	Industry and Services Trade
Content Type	Text
Resource Type	Chapter

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

Explaining the 2008-09 "Trade Collapse"