The collapse in trade and contraction of output that occurred during 2008-09 was comparable to, and in many countries more severe than, the Great Depression of 1930, but did not give rise to the rampant protectionism that followed the Great Crash. Theory suggests several hypotheses for why it...

"The book examines trade agreements in the context of the current world economic crisis and the uncompleted World Trade Organization (WTO) Doha Round of trade negotiations. With economies shrinking and protectionism on the rise, many fear a protracted global recession. This raises important...