Chapter

Commercial Policies in the 1930s

Richard Pomfret

in The Economics of Regional Trading Arrangements

Published in print November 2001 | ISBN: 9780199248872
Published online November 2003 | e-ISBN: 9780191596797 | DOI: http://dx.doi.org/10.1093/0199248877.003.0003
 Commercial Policies in the 1930s

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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

Chapter.  13937 words. 

Subjects: International Economics

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