ECB paper says global economy still haunted by ‘spectre of protectionism’
The global economy is still haunted by the "spectre of protectionism", according to a European Central Bank (ECB) working paper published earlier this week.
In Growth, Real Exchange Rates and Trade Protectionism since the Financial Crisis, Georgios Georgiadis and Johannes Gräb study the relationship between growth, real exchange rates and trade protectionism since 2009.
The authors find that countries still revert to "trade-restrictive" policies whenever they experience a recession or when their
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