Benefits of trade liberalisation

Focus

Firms need access to global sources of intermediate goods and services if they are to compete internationally. Trade policies that restrict imports of these inputs are more likely to produce firm closures and job losses – the very outcomes they were designed to prevent.
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Protectionist policies and trade-restricting measures have a negative impact on employment and growth, OECD analysis finds.
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Governments should resist protectionist pressures and work towards a level playing field for trade, says OECD analysis including the 2010 publication Trade and Economic Effects of Responses to the Economic Crisis.
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If G20 economies reduced trade barriers by 50%, they could gain a 0.3% to 3.3% rise in jobs for lower-skilled workers and 0.9 to 3.9% for higher-skilled workers, depending on the country.

(Source: "The Impact of Trade Liberalisation on Jobs and Growth", OECD Trade Policy Working Paper No. 107, 2011)

 

More facts about trade liberalisation

 

Publications

Click images to read online edition

Trade and Economic Effects of Responses to the Economic Crisis | OECD Free preview | Powered by Keepeek Digital Asset Management Solution International Trade | OECD Free preview | Powered by Keepeek Digital Asset Management Solution Policy Priorities for International Trade and Jobs | OECD Free preview | Powered by Keepeek Digital Asset Management Solution
Trade and Economic Effects of
Responses to the Economic Crisis
International Trade:
Free, Fair and Open?
Policy Priorities for
International Trade and Jobs

See all OECD publications on the benefits of trade liberalisation

 

Video

Jagdish Bhagwati on why trade still matters

Protectionism would hurt world trade and the economic recovery, says Professor Jagdish Bhagwati in this OECD interview.

He also challenges the idea that trade 'takes' jobs from developed countries, and underlines the importance of World Trade Organization rules in the global trading system.

More videos on trade

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