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The Economics of Regional Trading Arrangements$
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Richard Pomfret

Print publication date: 2001

Print ISBN-13: 9780199248872

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0199248877.001.0001

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Commercial Policies in the 1930s

Commercial Policies in the 1930s

(p.35) 3 Commercial Policies in the 1930s
The Economics of Regional Trading Arrangements

Richard Pomfret (Contributor Webpage)

Oxford University Press

Describes the collapse of the international economic system during the 1930s as governments disrupted the flow of international trade and turned trade increasingly into bilateral channels. Section 1 analyses the move to higher tariffs, especially following the 1930 tariff increase by the USA and Britain's abandonment of free trade in 1931. Section 2 analyses the growing use of non‐tariff barriers to international trade, including exchange controls. Section 3 addresses the revival of Imperial Preference among the British dominions and colonies at the 1932 Ottawa Conference. Section 4 analyses the consequences of 1930s trade policies in terms of increased bilateralism and regionalization of trade. Section 5 looks ahead by describing moves already underway by the late 1930s to reverse the trade policy errors of the decade.

Keywords:   bilateralism, colonies, exchange controls, free trade, Imperial Preference, non‐tariff barriers, Ottawa Conference, regionalization, tariffs, trade policy

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