Gawande, Kishore; Hoekman, Bernard; Cui, Yue - 2012
more severe than, the Great Depression of 1930, but did not give rise to the rampant protectionism that followed the Great … empirically examines the power of these and other theories to explain the observed pattern of trade policy responses to the 2008 … policy. Vertical specialization (global fragmentation) is found to be the most powerful economic factor determining trade …