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GLOBAL TRADE FLOWS AND TRADE POLICY SINCE 2012

M. Wojtas

First published: 2018https://doi.org/10.5593/sgemsocial2018H/11/S12.087View metrics

Abstract

The breakdown of world trade flows that occurred in 2008-2009 due to the financial and economic crisis was followed by a swift recovery. However, since 2012 global trade growth has been sluggish and the growth rates lower than average growth of global GDP. Various reasons have been named to explain that phenomenon. One of which is the supposed protectionist policies spreading all over the world. The main goal of the paper is to analyze global trade flows since 2012 and pinpoint the main tendencies and factors affecting trade with a particular focus on trade policy. The empirical analysis reveals that trade growth rates have been low, there has even been a decline in trade flows in value terms. Volume terms data seem to be positive, but growth rates have been unimpressive. The main source of the slowdown seems to lie within the cyclical factors - decreasing demand, but there are other reasons as well. There is some evidence of an increased use of protectionist instruments and the progress of worldwide negotiations on trade liberalization, in particular within the World Trade Organization seems to have been stalled. Doha Round talks have not brought about the desired agreement. Various regional trade agreements under negotiation have not been finalized.

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Publication details

Title
GLOBAL TRADE FLOWS AND TRADE POLICY SINCE 2012
Authors
M. Wojtas
Proceedings
5th International Multidisciplinary Scientific Conference on Social Sciences and Arts SGEM 2018
Publisher
STEF92 Technology
Year
2018
Pages
687-694
SWS Citekey
Wojtas201812687694
ISSN
2367-5659
ISBN
978-619-7408-30-0
Language
en
Publication type
Proceedings Paper
Keywords
world exportstrade policyprotectionism
ReferencesPending
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