International trade

Kaoru Hosono, Daisuke Miyakawa, Miho Takizawa, 27 August 2015

‘Learning by exporting’ refers to productivity gains experienced by firms after they commence exporting. Such gains are argued to be due to access to new knowledge and resources. This column explores some of the preconditions for learning-by-exporting effects, using data on the overseas activities and affiliations of Japanese firms. Firms that enter markets in which they don’t have affiliates or subsidiaries are found to enjoy the most learning-by-exporting productivity gains. These findings have implications for the timing of new market entry.

Swarnali Ahmed, Maximiliano Appendino, Michele Ruta, 27 August 2015

The export-less depreciation of the yen has opened a debate on the power of exchange rates to boost exports. This column presents new evidence on how the exchange rate elasticity of exports has changed over time and across countries, and how global value chains have affected it. The upshot is that greater integration in global value chains makes exports substantially less responsive to exchange rate depreciations.

Vincent Anesi, Giovanni Facchini, 08 August 2015

In international trade disputes, coercion is often used against governments whose trade practices are deemed unfair. This column presents a theoretical model that offers a new rationale for the greater effectiveness of multilateral compared to unilateral coercion, and hence provides a new argument in favour of commitment to international organisations.

Rosario Crinò, Laura Ogliari, 29 July 2015

The production of high-quality goods influences key aspects of countries’ economic performance, including growth and development. This column argues that removing credit market imperfections may help countries transition from the production of low-quality to high-quality goods, especially in industries that are more sensitive to financial frictions.

Sourafel Girma, Yundan Gong, Holger Görg, Sandra Lancheros, Christiane Krieger-Boden, 24 July 2015

In the run-up to WTO accession in 2001, China considerably liberalised its policy towards FDI. This column argues that foreign acquisitions contributed significantly to raising export activities and R&D activities, though rather through joint ventures than whole acquisitions.

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