(Neo)Protectionism and World Economic Crisis Cover Image

(Нео)протекционизам и светска економска криза
(Neo)Protectionism and World Economic Crisis

Author(s): Branislav M. Pelević, Vladimir M. Ristanović
Subject(s): Supranational / Global Economy, Economic policy, International relations/trade, Transformation Period (1990 - 2010), Financial Markets
Published by: Институт за политичке студије
Keywords: The global economic crisis; international trade; protectionism; foreign trade policy; the crisis in Serbia;

Summary/Abstract: The collapse of international trade is aftermath of global economic crisis in 2008. Decline in trade was even higher compared with the period of the Great Depression and, moreover, international trade has recorded a much greater decline than the world’s gross domestic product. Previous causality has been confirmed in Serbia and global crisis hit the economy of Serbia with the lag of one quarter. Initial fall in output and trade was smaller in the world than in Serbia. Growingprotectionism is not among the main causes of the collapse of the trade, but it is its essential companion. Protectionism, however, can provide positive effects only in short term. It leads to a decrease in exports, employment and income in other countries, but will invariably have feedback - leading to the fall for products imported from countries that increased protection. Opening the market undoubtedly contributes to more efficient and dynamic growth.

  • Issue Year: 2011
  • Issue No: 4
  • Page Range: 237-255
  • Page Count: 19
  • Language: Serbian