On the Brink of Deglobalization addresses the breakdown of international trade and capital flows in 2008/09 and challenges the mainstream narrative for the world trade collapse.
Detailed chapters on international finance, fragmentation of production, protectionism and earlier episodes of collapsing trade reveal data that contradicts conventional explanations and demonstrates that the trade collapse was driven by the shock of (perceived) trade uncertainty. Peter van Bergeijk discusses why trade barriers and import substitution are seen as solutions during depressions while presenting empirical evidence demonstrating the risks of such policies. This book provides a broad, historical and statistical analysis relevant to understanding the recent world trade collapse.
An Alternative Perspective on the Causes of the World Trade Collapse
Chapter 7: Let Us Test the Theories
Subjects: economics and finance, international economics, political economy, politics and public policy, political economy
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