Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/39690
Authors: 
Edwards, T. Huw
Year of Publication: 
2010
Citation: 
[Journal:] Economics: The Open-Access, Open-Assessment E-Journal [Volume:] 4 [Issue:] 2010-24 [Pages:] 1-48 [DOI/URN:] doi:10.5018/economics-ejournal.ja.2010-24
Abstract: 
Globalisation is associated with long periods of sustained economic growth and credit expansion, whereas major recessions tend to lead to falling trade and protectionism. The sensitivity of trade to global economic conditions is not simply driven by policy: rather, in a model of costly search, firms who are engaged in a searching process are very sensitive to changing economic circumstances. In turn, this causes protectionism to be partly endogenous, since optimal noncooperative tariffs can be high during periods when the sensitive, searching firms have exited the market.
Subjects: 
Globalisation
trade
search
JEL: 
F15
F43
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
Document Type: 
Article

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