Global Economic Crisis And The Danger Of Protectionism: Does International Law Help?

The global economic crisis places national economies under strain, and governments around the world may be tempted to support local producers and workers by putting in place protectionist policies. In spite of the formal G-20 promise to abstain from such steps, recent evidence shows that countries,...

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Autor principal:	Sergey Ripinsky
Formato:	article
Lenguaje:	EN
Publicado:	Amsterdam Law Forum 2009
Materias:	international law, economics, financial regulation, global markets, financial, law, politics, financial crisis Law K
Acceso en línea:	https://doaj.org/article/07cee49408e4415381736c4164628637
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spelling	oai:doaj.org-article:07cee49408e4415381736c41646286372021-12-02T08:49:36ZGlobal Economic Crisis And The Danger Of Protectionism: Does International Law Help?1876-8156https://doaj.org/article/07cee49408e4415381736c41646286372009-04-01T00:00:00Zhttp://ojs.ubvu.vu.nl/alf/article/view/77https://doaj.org/toc/1876-8156The global economic crisis places national economies under strain, and governments around the world may be tempted to support local producers and workers by putting in place protectionist policies. In spite of the formal G-20 promise to abstain from such steps, recent evidence shows that countries, including those from the G-20, have been introducing measures to the detriment of international trade and investment. Policies of this kind proved seriously harmful during the Great Depression of the 1930s. Today, the international legal landscape is markedly different but can it serve as an effective break on protectionism in crisis times? This article reviews relevant international disciplines in the areas of trade, investment and state aid and concludes that while the system will generally prevent protectionist policies, existing lacunae, ambiguous provisions and a lack of effective enforcement all indicate that it cannot be relied upon to provide a durable guarantee against economic nationalism, especially if the economic situation continues to deteriorate.Sergey RipinskyAmsterdam Law Forumarticleinternational law, economics, financial regulation, global markets, financial, law, politics, financial crisisLawKENAmsterdam Law Forum, Vol 1, Iss 3, Pp 3-16 (2009)
institution	DOAJ
collection	DOAJ
language	EN
topic	international law, economics, financial regulation, global markets, financial, law, politics, financial crisis Law K
spellingShingle	international law, economics, financial regulation, global markets, financial, law, politics, financial crisis Law K Sergey Ripinsky Global Economic Crisis And The Danger Of Protectionism: Does International Law Help?
description	The global economic crisis places national economies under strain, and governments around the world may be tempted to support local producers and workers by putting in place protectionist policies. In spite of the formal G-20 promise to abstain from such steps, recent evidence shows that countries, including those from the G-20, have been introducing measures to the detriment of international trade and investment. Policies of this kind proved seriously harmful during the Great Depression of the 1930s. Today, the international legal landscape is markedly different but can it serve as an effective break on protectionism in crisis times? This article reviews relevant international disciplines in the areas of trade, investment and state aid and concludes that while the system will generally prevent protectionist policies, existing lacunae, ambiguous provisions and a lack of effective enforcement all indicate that it cannot be relied upon to provide a durable guarantee against economic nationalism, especially if the economic situation continues to deteriorate.
format	article
author	Sergey Ripinsky
author_facet	Sergey Ripinsky
author_sort	Sergey Ripinsky
title	Global Economic Crisis And The Danger Of Protectionism: Does International Law Help?
title_short	Global Economic Crisis And The Danger Of Protectionism: Does International Law Help?
title_full	Global Economic Crisis And The Danger Of Protectionism: Does International Law Help?
title_fullStr	Global Economic Crisis And The Danger Of Protectionism: Does International Law Help?
title_full_unstemmed	Global Economic Crisis And The Danger Of Protectionism: Does International Law Help?
title_sort	global economic crisis and the danger of protectionism: does international law help?
publisher	Amsterdam Law Forum
publishDate	2009
url	https://doaj.org/article/07cee49408e4415381736c4164628637
work_keys_str_mv	AT sergeyripinsky globaleconomiccrisisandthedangerofprotectionismdoesinternationallawhelp
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Global Economic Crisis And The Danger Of Protectionism: Does International Law Help?

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