IMF paper on protectionist responses to the crisis

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An IMF research paper, published June, investigates how trade flows are being affected by new discriminatory measures implemented during the crisis.

The results imply global trade declines at the aggregate level of about 0.2%, or $30-35 billion a year.

Behind-the-border measures, such as bailouts and subsidies, are found to have been more harmful than border measures at the product level. Among border measures, impacts tend to be higher for less transparent measures. Advanced countries are found

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