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The Slowdown in Global Trade

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Global trade growth has been weak during the period following the 2007–09 financial crisis. This is an important development for Canada, given the Canadian economy's high degree of openness to trade. This article investigates some of the factors behind the slowdown in global trade and finds that the weakness of global demand and its changing composition, increased protectionism and diminishing incentives to expand trade have all played a role. Some of these factors are likely to have only a temporary effect on trade growth, but others could be more long-lasting.

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  • Michael Francis & Louis Morel, 2015. "The Slowdown in Global Trade," Bank of Canada Review, Bank of Canada, vol. 2015(Spring), pages 13-25.
    • Handle: RePEc:bca:bcarev:v:2015:y:2015:i:spring15:p:13-25
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    File URL: https://www.bankofcanada.ca/wp-content/uploads/2015/05/boc-review-spring15-francis.pdf
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    Citations

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    Cited by:

    1. Stephen S. Poloz, 2016. "The Paul Storer Memorial Lecture—Cross-Border Trade Integration and Monetary Policy," Discussion Papers 16-20, Bank of Canada.
    2. Patrick Alexander & Jean-Philippe Cayen & Alex Proulx, 2017. "An Improved Equation for Predicting Canadian Non-Commodity Exports," Discussion Papers 17-1, Bank of Canada.
    3. Freddy Cepeda-López & Fredy Gamboa-Estrada & Carlos León & Hernán Rincón-Castro, 2019. "The evolution of world trade from 1995 to 2014: A network approach," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 28(4), pages 452-485, May.
    4. Kilian, Lutz & Zhou, Xiaoqing, 2018. "Modeling fluctuations in the global demand for commodities," Journal of International Money and Finance, Elsevier, vol. 88(C), pages 54-78.
    5. Anne-Katherine Cormier & Michael Francis & Kristina Hess & Guillaume Poulin-Bellisle, 2019. "Drivers of Weak Wage Growth in Advanced Economies," Staff Analytical Notes 2019-3, Bank of Canada.
    6. Justin-Damien Guénette & Nicholas Labelle & Martin Leduc & Lori Rennison, 2016. "The Case of Serial Disappointment," Staff Analytical Notes 16-10, Bank of Canada.

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