Abstract:
This paper examines the multilateral governance of trade along with the prospects for its meaningful reform, in the light of recent, crisis-era discrimination against the many types of cross-border commerce. Prior episodes of protectionism provide a useful benchmark. The findings are not optimistic. The current set of multilateral rules is incomplete, has weak incentives for compliance, and can be readily circumvented. Only a far-reaching revision of these rules could induce more restraint.
Citation:
Evenett, S. J., & Vines, D. (2012), 'Crisis-era protectionism and the multilateral governance of trade: an assessment', Oxford Review of Economic Policy, (ol. 28, Issue 2, pp. 195–210, Oxford University Press (OUP), https://doi.org/10.1093/oxrep/grs019