Making Trade an Engine of Growth for All: The Case for Trade and for Policies to Facilitate Adjustment
Source details
- Canonical URL
- Making Trade an Engine of Growth for All: The Case for Trade and for Policies to Facilitate Adjustment
Other formats
Bibliographic details
- Published: April 10, 2017
Summary
- The role of trade in the global economy is at a critical juncture.
- Increased trade integration helped to drive economic growth in advanced and developing economies in the latter part of the 20th century.
- Since the early 2000’s, a slowdown in the pace of trade reform, a post-crisis uptick in protectionism, and risk of further reversals have been a drag on trade, productivity, and income growth.
- Trade is leaving too many individuals and communities behind, notably also in advanced economies.
- Job losses in certain sectors or regions in advanced economies have resulted to a large extent from technological changes rather than from trade.
- Adjustment to trade can bring a human and economic downside that is frequently concentrated, sometimes harsh, and has too often become prolonged.
- With the right policies, countries can benefit from the great opportunities that trade brings and lift up those who have been left behind.
- Those polices ease adjustment to trade, as well as strengthen overall economic flexibility and performance.
Publication details
- Publication title: Making Trade an Engine of Growth for All: The Case for Trade and for Policies to Facilitate Adjustment
- Publication date: April 10, 2017
- Prepared by Staff of the IMF, the World Bank Group, and the World Trade Organization
Prepared by Staff of the IMF, the World Bank Group, and the World Trade Organization
Content in this bundle
- 041017joint-wto-wb-imf-trade-paper