The Global Trade Slowdown

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Publisher : International Monetary Fund
ISBN 13 : 1498399134
Total Pages : 44 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis The Global Trade Slowdown by : Cristina Constantinescu

Download or read book The Global Trade Slowdown written by Cristina Constantinescu and published by International Monetary Fund. This book was released on 2015-01-21 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on an error correction model to assess whether the global trade slowdown is structural or cyclical. An estimate of the relationship between trade and income in the past four decades reveals that the long-term trade elasticity rose sharply in the 1990s, but declined significantly in the 2000s even before the global financial crisis. These results suggest that trade is growing slowly not only because of slow growth of Gross Domestic Product (GDP), but also because of a structural change in the trade-GDP relationship in recent years. The available evidence suggests that the explanation may lie in the slowing pace of international vertical specialization rather than increasing protection or the changing composition of trade and GDP.

Fragmentation

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Publisher : OUP Oxford
ISBN 13 : 0191589063
Total Pages : 270 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis Fragmentation by : Sven W. Arndt

Download or read book Fragmentation written by Sven W. Arndt and published by OUP Oxford. This book was released on 2001-02-08 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Fragmentation" is a term used in this volume to describe cross-border component specialization and production-sharing. Examination of recent trade data suggests that offshore sourcing of parts and components, as well as offshore assembly, are assuming an increasing role in the world economy. The theoretical implications of this type of specialization are examined in several chapters with the aid of both Ricardian and Heckscher-Ohlin trade models. Production is first decomposed ("fragmented") into its constituent parts and activities, and then it is at this level that factor-intensities and technologies are calibrated. The implications of intra-product specialization and component trade are investigated under conditions of free, restricted, and preferential trade. The role of multinationals is explored and the importance of cross-border service-links among component activities is examined. Overall, extension of the principle of comparative advantage beyond products to the realm of parts and components is welfare-enhancing. Industries take advantage of offshore sourcing in order to reduce costs and increase competitiveness. Component specialization offers new and additional opportunities for the exploitation of scale economies. Across a broad range of conditions, it raises output and employment. Its effects on wages are spelled out. Trade between advanced, high-wage and developing low-wage countries is an obvious candidate for the two-way application of component specialization. The empirical part of the volume presents an evaluation of new data which allow the separation of trade in components and in final products. It also provides assessments of the role of component specialization in the trade of several countries and regions. In addition to their relevance for trade theorists and country specialists, the studies collected in this volume have interesting implications for the conduct of trade policy. They contradict claims that trade with low-wage countries must be welfare-reducing and they suggest new approaches to industrialization and economic development.

International Provision of Trade Services, Trade, and Fragmentation

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Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4./5 ( download)

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Book Synopsis International Provision of Trade Services, Trade, and Fragmentation by : Alan V. Deardorff

Download or read book International Provision of Trade Services, Trade, and Fragmentation written by Alan V. Deardorff and published by World Bank Publications. This book was released on 2001 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author examines the special role that trade liberalization in services industries can play in stimulating trade in both services, and goods. International trade in goods requires inputs from such trade services as transportation, insurance, and finance, for example. Restrictions on services across borders, and within foreign countries add costs, and barriers to international trade. Liberalizing trade in services could also facilitate trade in goods, providing more benefits than one might expect from analysis merely of the services trade. To emphasize the point, the author notes that the benefits for trade are arguably enhanced by the phenomenon of fragmentation. The more that production processes become split across locations, with the fragments tied together, and coordinated by various trade services, the greater the gains from reductions in the costs of services. The incentives for such fragmentation can be greater across countries, than within countries, because of the greater differences in factor prices, and technologies. But the service costs of international fragmentation can also be larger, especially if regulations, and restrictions impede the international provision of services. As a result, trade liberalization in services can stimulate the fragmentation of production of both goods, and services, thus increasing international trade, and the gains from trade even further. Since fragmentation seems to characterize an increasing portion of world specialization, the importance of service liberalization is growing apace.

Geopolitics, Trade Blocks, and the Fragmentation of World Commerce

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Author :
Publisher : Rowman & Littlefield
ISBN 13 : 1666929379
Total Pages : 227 pages
Book Rating : 4.6/5 (669 download)

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Book Synopsis Geopolitics, Trade Blocks, and the Fragmentation of World Commerce by : Uri Dadush

Download or read book Geopolitics, Trade Blocks, and the Fragmentation of World Commerce written by Uri Dadush and published by Rowman & Littlefield. This book was released on 2024-10-15 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economic edifice built after World War II is a source of unprecedented prosperity. It cannot function without open and predictable international trade, and the peaceful international relations that are its foundation. The rules that enable trade are under attack. Social divisions and great power rivalry have eroded the political support for open trade. The consequence is fragmentation of world trade, its separation into blocks that advance domestic producers or favored nations nearby. These blocs are themselves often pulled apart by competing agendas. The prospects are for vastly reduced economic efficiency and - most ominously - heightened geopolitical tensions. The questions about why this is happening, how economic fragmentation will evolve, and how to respond to it, are uppermost in the minds of policymakers and businesses across the world. These are the questions that Uri Dadush seeks to answer. Since the uncertainty cannot be dispelled, it must be better managed.

Global Trade Fragmentation

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Author :
Publisher :
ISBN 13 : 9789276296300
Total Pages : 0 pages
Book Rating : 4.2/5 (963 download)

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Book Synopsis Global Trade Fragmentation by :

Download or read book Global Trade Fragmentation written by and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The risk of global trade fragmentation has increased significantly. Rising geopolitical tensions, a growing number of trade restrictions and a weakening of multilateral institutions have been important geopolitical drivers. These trends have been accompanied by a drastic rise in trade-inhibiting policy measures, particularly after the Covid-19 pandemic and Russia's invasion of Ukraine. In this context, the EU's integration in the global economy via trade and value chains remains resilient thus far. Yet, a more fragmented world trade in the future would result of selected decoupling between countries, a general re-balancing towards resilience of value chains and efforts to secure access to key raw materials in lieu of efficiency. This would come at a significant cost. Global trade fragmentation in the form of an increase in trade barriers and higher trade policy uncertainty could lead to significant reduction in global output in the long-term, with low-income countries likely to be more negatively affected.

Divided We Fall: Differential Exposure to Geopolitical Fragmentation in Trade

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 51 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Divided We Fall: Differential Exposure to Geopolitical Fragmentation in Trade by : Shushanik Hakobyan

Download or read book Divided We Fall: Differential Exposure to Geopolitical Fragmentation in Trade written by Shushanik Hakobyan and published by International Monetary Fund. This book was released on 2023-12-22 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses differences in countries’ macroeconomic exposure to trade fragmentation along geopolitical lines. Estimating structural gravity regressions for sector-level bilateral trade flows between 185 countries, we find that differences in individual countries’ geopolitical ties act as a barrier to trade, with the largest effects concentrated in a few sectors (notably, food and high-end manufacturing). Consequently, countries’ exposure via trade to geopolitical shifts varies with their market size, comparative advantage, and foreign policy alignments. Introducing our estimates into a dynamic many-country, many-sector quantitative trade model, we show that geoeconomic fragmentation—modelled as an increased sensitivity of trade costs to geopolitics and greater geopolitical polarization—generally leads to lower trade and incomes. However, emerging markets and developing economies (EMDEs) tend to see the largest impacts: real per-capita income losses for the median EMDE in Asia are 80 percent larger, and for the median EMDE in Africa 120 percent larger, than for the median advanced economy. This suggests that the costs of trade fragmentation could fall disproportionally on countries that can afford it the least.

Fragmentation in Global Trade: Accounting for Commodities

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Author :
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Fragmentation in Global Trade: Accounting for Commodities by : Marijn A. Bolhuis

Download or read book Fragmentation in Global Trade: Accounting for Commodities written by Marijn A. Bolhuis and published by International Monetary Fund. This book was released on 2023-03-24 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: We construct a new database which covers production and trade in 136 primary commodities and 24 manufacturing and service sectors for 145 countries. Using this new more granular data, we estimate spillover effects from plausible trade fragmentation scenarios in a new multi-country, multi-sector, general-equilibrium model that accounts for unique demand and supply characteristics of commodities. The results show fragmentation-induced output losses can be sizable, especially for Low-Income-Countries, although the magnitudes vary according to the particular scenarios and modelling assumptions. Our work demonstrates that not accounting for granular commodity production and trade linkages leads to underestimation of the output losses associated with trade fragmentation.

International Provision of Trade Services, Trade, and Fragmentation

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Author :
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis International Provision of Trade Services, Trade, and Fragmentation by : Alan V. Deardorff

Download or read book International Provision of Trade Services, Trade, and Fragmentation written by Alan V. Deardorff and published by . This book was released on 2016 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: By reducing the costs of such trade services as transport, insurance, and finance, liberalizing trade in services can generate benefits in the markets for every kind of trade they facilitate. It can also stimulate the fragmentation of production of both goods and services, thus increasing international trade and the gains from trade even further. Deardorff examines the special role that trade liberalization in services industries can play in stimulating trade in both services and goods. International trade in goods requires inputs from such trade services as transportation, insurance, and finance, for example. Restrictions on services across borders and within foreign countries add costs and barriers to international trade. Liberalizing trade in services could also facilitate trade in goods, providing more benefits than one might expect from analysis merely of the services trade. To emphasize the point, Deardorff notes that the benefits for trade are arguably enhanced by the phenomenon of fragmentation. The more that production processes become split across locations, with the fragments tied together and coordinated by various trade services, the greater the gains from reductions in the costs of services.The incentives for such fragmentation can be greater across countries than within countries because of the greater differences in factor prices and technologies. But the service costs of international fragmentation can also be larger, especially if regulations and restrictions impede the international provision of services. As a result, trade liberalization in services can stimulate the fragmentation of production of both goods and services, thus increasing international trade and the gains from trade even further. Since fragmentation seems to characterize an increasing portion of world specialization, the importance of service liberalization is growing apace.This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to improve trade policy in goods and services.

The Right to Food and the World Trade Organization's Rules on Agriculture

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Author :
Publisher : BRILL
ISBN 13 : 9004345302
Total Pages : 305 pages
Book Rating : 4.0/5 (43 download)

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Book Synopsis The Right to Food and the World Trade Organization's Rules on Agriculture by : Rhonda Ferguson

Download or read book The Right to Food and the World Trade Organization's Rules on Agriculture written by Rhonda Ferguson and published by BRILL. This book was released on 2018-01-03 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Right to Food and the World Trade Organization’s Rules on Agriculture: Conflicting, Compatible, or Complementary?, Rhonda Ferguson explores the relationship between the human right to food and agricultural trade rules. She questions whether States can adhere to their obligations under both regimes simultaneously. These two regimes are frequently portrayed to be in tension with one another. The content and contours of the right to food under international human rights law and WTO rules on domestic supports, export subsidies, and market access are considered through the lens of norm conflict theories. The analysis is situated within the context of the debate surrounding the fragmentation of international law.

The Prospects of International Trade Regulation

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Publisher : Cambridge University Press
ISBN 13 : 1139501259
Total Pages : 535 pages
Book Rating : 4.1/5 (395 download)

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Book Synopsis The Prospects of International Trade Regulation by : Thomas Cottier

Download or read book The Prospects of International Trade Regulation written by Thomas Cottier and published by Cambridge University Press. This book was released on 2011-04-14 with total page 535 pages. Available in PDF, EPUB and Kindle. Book excerpt: For a long time, the GATT led a life of its own as a self-contained regime. The evolution from tariff to non-tariff barriers brought about increasing overlaps with other regulatory areas. WTO rules increasingly interface with other areas of law and policy, including environmental protection, agricultural policies, labour standards, investment, human rights and regional integration. Against this backdrop, this book examines fragmentation in international trade regulation across a wide array of regulatory fields. To this end, it uses a conceptually coherent theoretical framework which is based on the effort to bring about greater coherence among different policy goals and fields, and thus to embed the multilateral trading system within the broader framework of international economics, law and relations. It will appeal to those interested in a forward-looking discussion of the most pressing issues of the international trade agenda.

Fragmenting Globalization

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Publisher : University of Michigan Press
ISBN 13 : 047212837X
Total Pages : 321 pages
Book Rating : 4.4/5 (721 download)

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Book Synopsis Fragmenting Globalization by : Ka Zeng

Download or read book Fragmenting Globalization written by Ka Zeng and published by University of Michigan Press. This book was released on 2021-03-15 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global supply chain integration is not only a rapidly growing feature of international trade, it is responsible for fundamentally changing trade policy at international and domestic levels. Given that final goods are produced with both domestic and foreign suppliers, Ka Zeng and Xiaojun Li argue that global supply chain integration pits firms and industries that are more heavily dependent on foreign supply chains against those that are less dependent on intermediate goods for domestic production. Hence, businesses whose supply chain would be disrupted as a result of increased trade barriers should lobby for preferential trade liberalization to maintain access to those foreign markets. Moreover, businesses whose products are used in the production of goods in foreign countries should also support preferential trade liberalization to compete with suppliers from other parts of the world. Fragmenting Globalization uses multiple methods, including time series, cross-sectional analysis of the pattern of Preferential Trade Alliance formation by existing World Trade Organization members, a firm-level survey, and case studies of the pattern of corporate support for regional trade liberalization in both China and the United States. Zeng and Li show that the growing fragmentation of global production, trade, and investment is altering trade policy away from the traditional divide between export-oriented and import-competing industries.

International Fragmentation

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Author :
Publisher : Springer
ISBN 13 : 3319338463
Total Pages : 166 pages
Book Rating : 4.3/5 (193 download)

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Book Synopsis International Fragmentation by : Anshu Saxena Arora

Download or read book International Fragmentation written by Anshu Saxena Arora and published by Springer. This book was released on 2016-09-29 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the increased fragmentation and internationalization of production. It explores how concurrent business transformations in manufacturing and marketing impact global and developing economies, and how supply chain initiatives and information sharing impact overall organizational performance. It further connects marketing and advertising as an important link between organizations and its partners; education as a bridge between developing and developed world economies; and growth as a long-term objective of increasing integration at the regional and global level. Through a series of case studies, scholars across the US and France contribute chapters on the manufacturing, marketing, and internationalization of luxury fashion brands, music advertising, the growth of Amazon, and the business landscapes in India, China, Africa, and North Korea. The book provides academic libraries, international business scholars, graduate students, and policy makers with insights and opportunities that enable firms to achieve a competitive advantage in the marketplace.

The Fragmentation of Global Climate Governance

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Publisher : Edward Elgar Publishing
ISBN 13 : 1782544984
Total Pages : 355 pages
Book Rating : 4.7/5 (825 download)

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Book Synopsis The Fragmentation of Global Climate Governance by : Harro van Asselt

Download or read book The Fragmentation of Global Climate Governance written by Harro van Asselt and published by Edward Elgar Publishing. This book was released on 2014-04-25 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fragmented state of global climate governance poses major challenges to policymakers and scholars alike. Through an in-depth examination of regime interactions between the international climate regime and three other regimes (on clean technology, b

Offshoring, Outsourcing and Production Fragmentation

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Publisher : Springer
ISBN 13 : 113757125X
Total Pages : 229 pages
Book Rating : 4.1/5 (375 download)

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Book Synopsis Offshoring, Outsourcing and Production Fragmentation by : Mariusz-Jan Radło

Download or read book Offshoring, Outsourcing and Production Fragmentation written by Mariusz-Jan Radło and published by Springer. This book was released on 2016-03-29 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Radlo increases understanding of offshoring, outsourcing and international production fragmentation, and explains the impact of this phenomenon on the economies and enterprises. Key features include a comprehensive theoretical explanation of offshoring and outsourcing at both macroeconomic and microeconomic level, as well as an explanation of practical consequences of the mentioned phenomenon for the development of the global economy, national economies, concrete industries and enterprises. Unlike other publications, which are often characterized by narrow management or a macroeconomic approach to the analysis of offshoring and outsourcing, Radlo's text offers real insight into the global impact of production fragmentation.

International Trade Theory and Competitive Models

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Author :
Publisher : World Scientific Publishing Company
ISBN 13 : 9789813200661
Total Pages : 0 pages
Book Rating : 4.2/5 (6 download)

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Book Synopsis International Trade Theory and Competitive Models by : Ronald Winthrop Jones

Download or read book International Trade Theory and Competitive Models written by Ronald Winthrop Jones and published by World Scientific Publishing Company. This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: World-renowned economist Ronald W. Jones gets to the essence of international trade theory in this collection of articles that span over half a century of his published work. As the global economy has grown, so too has the need for a deeper rooted understanding of trade -- and its assorted benefits. With clear, simplifying prose, Jones elucidates the Ricardian, Heckscher-Ohlin, and Specific-Factors models of general equilibrium theory. Jones' pioneering work anticipates, among other changes in our time, the creation of far-flung supply chains brought about by the falling costs of service links. The theoretical, technical, and historical insights in the text are peppered with personal notes that capture modern intellectual development in the field, providing a bedrock foundation in international trade for students and practitioners alike.

Global Production and Trade in East Asia

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Publisher : Springer Science & Business Media
ISBN 13 : 1461516250
Total Pages : 345 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Global Production and Trade in East Asia by : Leonard K. Cheng

Download or read book Global Production and Trade in East Asia written by Leonard K. Cheng and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Production and Trade in East Asia focuses on the profound change that the traditional paradigm of production and international trade has undergone in the last two decades or so as a result of worldwide trade and investment liberalization. This ongoing transformation has been both aided and stimulated by advances in telecommunications, transportation, and information management. The liberalization of trade and investment on the one hand and advances in communications technology on the other have further promoted global production networks in which vertical stages of final goods are fragmented across countries. International fragmentation of production, which enables international division of labor not only in final products but also in vertically related components, is more evident than ever before. The book documents the process of international production fragmentation and trade in East Asian economies, studies the mechanics of the process, explores the theory behind the phenomenon, and identifies important policy implications. It focuses on production fragmentation and trade in East Asia because this is the part of the world where the phenomenon is most visible. With contribution by well-known international economics scholars from North America, Europe, and the Asia-Pacific, the book distinguishes itself with high global quality and rich regional content. It achieves a fine balance between theory, policy, and empirical work. This book will interest scholars of international trade, foreign investment and international business, regional specialists in East Asian economies, policymakers and advisors in international economic relations, and anyone else who follows important economic issues of globalization.

Quantitative Analysis of Newly Evolving Patterns of International Trade

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Author :
Publisher : World Scientific
ISBN 13 : 9814383473
Total Pages : 531 pages
Book Rating : 4.8/5 (143 download)

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Book Synopsis Quantitative Analysis of Newly Evolving Patterns of International Trade by : Robert Mitchell Stern

Download or read book Quantitative Analysis of Newly Evolving Patterns of International Trade written by Robert Mitchell Stern and published by World Scientific. This book was released on 2012 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantitative Analysis of Newly Evolving Patterns of International Trade offers a variety of perspectives on new forms and developments of international trade and related activities for Japan, the United States, China, and some other important trading countries, to develop new methods and data for measuring the factor contents of emerging new modes of international trade. Such methods and data are crucially important for evaluating impacts of the new modes on factor markets in the United States, Japan, and other major trading countries, and also for forecasting the future development of world trade and foreign direct investment (FDI), evaluating welfare gains from trade, estimating impacts of free trade agreements, and designing effective trade and FDI policies.