Recent trade policy developments: A mixed picture

Governments have been actively using various trade policy instruments in the aftermath of the global financial crisis but there has not been a widespread resort to protectionism. The result has been a mix of trade protectionism and trade promotion. This chapter explores how Governments in Asia and the Pacific adjusted the scale and composition of their trade policies in response to the uncertainties present in the aftermath of the global financial crisis. It also looks at the rationales behind these adjustments. The impact of some of these measures on trade flows and affected sectors are assessed. This evaluation is complemented by an Index of Protectionism Severity, which aims to provide a simple measure of the impact of protectionist policies.

Related Subject(s): International Trade and Finance