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Great Trade Collapse

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The Great Trade Collapse is a consequence of the 2008 financial crisis and happened between the third quarter of 2008 and the second quarter of 2009[1]. While the world GDP has dropped by 1%, the world trade has dropped by 10%. This global trade collapse is very uncommon as the drop was synchronized[2] over almost all the countries in the world. The main reasons given by the researchers are a sudden drop in demand, in supply, credit constraint and global chain values.

See also

References

  1. ^ The Great Trade Collapse: Causes, Consequences and Prospects by Richard Baldwin in 2009
  2. ^ The Great Synchronisation: tracking the trade collapse with high-frequency data by Joaquim Oliveira Martins and Sónia Araújo in 2009
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