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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

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

Richard Pomfret (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0199248877.003.0003

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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