STATE PROTECTIONISM AS A BARRIER TO COUNTRIES’ CRISIS RECOVERY
Keywords:
State protectionism, world trade, new protectionism, global crisisAbstract
Decline in world trade which was caused by the global crisis could cause further drop of production and employment. Because of the positive multiplicative effects of world trade on production growth, recovery of world economy is highly dependent on world trade recovery. Like in all the crises there has been evidence of enforced strong pressure for implementation of restrictive protectionist measures. Rise of state protectionism for the purpose of recovery is expected reaction of economic policy creators. But, when choosing the measures one should implement as less as possible discriminatory measures of the state protectionism. Rise in this kind of measures will certainly delay recovery from the crisis. Following of this work encompass analyze of new tendencies in the contemporary protectionism, its forms, ways of implementation and effect on recovery which will be set by the rise in protectionism. Results of this analyze indicate that for the scope of recovery countries should turn to multilateralism in world trade.
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