MILWAUKEE, May 18, 2022 /PRNewswire-PRWeb/-- New research assesses the impact of COVID-19 related import facilitating and export restricting non-tariff measures (NTMs) on agricultural and food trade. Earlier studies concerned with the trade effects of COVID-19 have overlooked the differential impacts caused by these temporary trade measures. In a new article, "The Impact of COVID-19 Trade Measures on Agricultural and Food Trade," published in Applied Economic Perspectives & Policy, Sandro Steinbach and Soojung Ahn from the University of Connecticut show that export restricting NTMs achieved the set policy goals. At the same time, there is no evidence of long-term trade disruptions.
Steinbach says, "We find that higher domestic COVID-19 case numbers reduce the probability of a country implementing an import facilitating NTM. We also find that an elevated foreign COVID-19 prevalence adversely impacts the likelihood of a country implementing an export restricting NTM."
He continues, "Our empirical analysis shows that the NTM trade effects are most substantial within the first five months after implementing a temporary trade measure, resulting in average post-event trade effects of 5.4% for import facilitating NTMs and -27.5% for export restricting NTMs."
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