Can large trade shocks cause crises? The case of the Finnish-Soviet trade collapse

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Title: Can large trade shocks cause crises? The case of the Finnish-Soviet trade collapse
Author: Gulan, Adam
Organization: Bank of Finland
Series: Bank of Finland Bulletin. Blog
Year of publication: 2021
Publication date: 5.5.2021
Pages: 5
Subject (yso): bruttokansantuote; kansainvälinen kauppa; lama; taloudelliset kriisit; ulkomaankauppa
Keywords: Neuvostoliitto; Suomi; talouslama; talouskriisi; Neuvostoliiton-kauppa
Other keywords: GDP; Finland; international trade; foreign trade; Soviet Union; economic crisis; economic depression
Abstract: What are the economic causes and consequences of large trade disruptions? Are they able to unleash a full-scale economic crisis? In recent years, the news has been full of events such as the US-China trade war, Brexit and even the collapse of tourism services exports in southern Europe following the outbreak of COVID-19. Finland has its own unique and still recent experience from the early 1990s, when the Soviet Union withdrew from the clearing trade agreement in December 1990.
Note: The accessible version: https://www.bofbulletin.fi/en/blogs/can-large-trade-shocks-cause-crises-the-case-of-the-finnish-soviet-trade-collapse/
Link: http://www.bofbulletin.fi/
Rights: https://helda.helsinki.fi/bof/copyright


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