A Study of the Linkages Between the Global Recession of 2008, Protectionism, and Indian Steel Export.

Abstract

Purpose: This paper examines the linkages between the global recession of 2008, protectionist policies, and the Indian steel trade. The study analyzes the dimensions of the global recession and protectionism, highlighting factors such as credit booms, housing bubbles, risk-taking behavior of financial institutions, lax regulatory oversight, loose monetary policy, global imbalances, and the failure of credit rating agencies. It also explores different types of protectionism, including intentional, incidental, and instrumental protectionism, and discusses the rise in protectionist measures since the 2008 recession. The paper further investigates the impact of the global recession and protectionism on the steel sector, with a specific focus on the Indian steel industry. It examines the trends and performance of the global steel production, import, and export, showing a dip in 2008 but consistent growth thereafter.

Design/ Approach/ Methodology: The study follows a descriptive approach based on literature and data collected from secondary sources.

Findings: The paper highlights the complex factors behind the 2008 recession and the role of protectionist policies. It emphasizes the need to address issues related to raw material availability, price volatility, cheap imports, environmental concerns, and lack of demand in the steel industry.

Originality/Value: The study provides insights into the impact of the global recession and protectionism on the Indian steel trade and offers valuable information for policymakers and industry stakeholders.

Paper Type: View Point.