| Título: | Recession, International Trade and the Fallacies of Composition |
| Autores: | Kerr, William A. |
| Fecha: |
2009-04-03 2009-04-03 2009 |
| Publicador: | AgEcon |
| Fuente: |
 |
| Tipo: | Journal Article |
| Tema: |
beggar thy neighbour deficits paradox of thrift recession subsidies International Relations/Trade |
| Descripción: | A truly global recession has not been manifest since the Great Depression of the 1930s. As a result, the multilateral institutions put in place at the end of the Second World War to ensure that a major depression never happened again have not been tested. One of the lessons of the Great Depression was that governments had a major role to play in managing the economy. The use of subsidies to affect economic outcomes was one manifestation of this expanded role. In a recession, sector specific subsidies will likely be requested by firms. Subsidies can distort trade, leading to the potential for beggar thy neighbour subsidy wars. Subsidies will be difficult to discipline in a global recession. |
| Idioma: | en |
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