Trade and Economic Effects of Responses to the Economic Crisis
This study was undertaken by the OECD’s Trade Committee in response to the financial and economic crisis that started in 2008. The 12.5% fall in global trade in 2009 is explained by several factors: the collapse in demand, the drying up of trade finance, a larger fall in demand for highly traded goods (such as machinery and transport equipment) relative to less traded goods and services, and the vertically integrated nature of global supply chains... more »