Export enhancement, WTO rules and financial crises

Jan Piaw, Thomas VOON, John K. VOON

Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

Abstract

This paper reassesses the current WTO rules on export assistances in light of the global financial crisis. Our empirical analysis shows that export enhancing measures had positive effects on household consumption, implying that such measures were necessary to prevent the domestic economy from falling into deeper recession wrought by the financial crisis. The domestic economy is in a dilemma during a financial crisis because, on the one hand, it must rescue the economy, but on the other, it must not hurt the other exporters. In view of this polemic, this paper points out that the current law is inadequate in that it fails to take into account important and highly relevant economic issues pertaining to the current global financial crisis.
Original languageEnglish
Pages (from-to)62-71
Number of pages10
JournalInternational Journal of Business and Social Science
Volume2
Issue number6
Publication statusPublished - 1 Apr 2011

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Financial crisis
Enhancement
Global financial crisis
Economics
Empirical analysis
Recession
Exporters
Household consumption

Cite this

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Export enhancement, WTO rules and financial crises. / VOON, Jan Piaw, Thomas; VOON, John K.

In: International Journal of Business and Social Science, Vol. 2, No. 6, 01.04.2011, p. 62-71.

Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

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N2 - This paper reassesses the current WTO rules on export assistances in light of the global financial crisis. Our empirical analysis shows that export enhancing measures had positive effects on household consumption, implying that such measures were necessary to prevent the domestic economy from falling into deeper recession wrought by the financial crisis. The domestic economy is in a dilemma during a financial crisis because, on the one hand, it must rescue the economy, but on the other, it must not hurt the other exporters. In view of this polemic, this paper points out that the current law is inadequate in that it fails to take into account important and highly relevant economic issues pertaining to the current global financial crisis.

AB - This paper reassesses the current WTO rules on export assistances in light of the global financial crisis. Our empirical analysis shows that export enhancing measures had positive effects on household consumption, implying that such measures were necessary to prevent the domestic economy from falling into deeper recession wrought by the financial crisis. The domestic economy is in a dilemma during a financial crisis because, on the one hand, it must rescue the economy, but on the other, it must not hurt the other exporters. In view of this polemic, this paper points out that the current law is inadequate in that it fails to take into account important and highly relevant economic issues pertaining to the current global financial crisis.

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