International trade

[field_auth], 26 July 2016

Trade ministries, just as other parts of government, need to respond to calls from the public and from global leaders for action on major issues. This column argues that armed with potential policy options identified through the E15Initiative, the WTO is equipped to contribute to solutions in many areas. Purposeful efforts over the coming months and years could help to boost the WTO’s essential and valuable place in ensuring a responsive and inclusive furtherance of globalisation and trade and investment integration that delivers sustainable development outcomes for all.    

[field_auth], 23 July 2016

New EU trade agreements could adversely affect Turkey as a non-EU member. This column presents new findings of an economic analysis in which different trade policy scenarios are considered. The results point to a clear policy recommendation – Turkey and the EU should mutually deepen their customs union by including the agriculture and service sectors as soon as possible.

[field_auth], 22 July 2016

Econophysics is an emerging field applying theories and methods from physics to economic problems and data. This column explores the collective motions of trade and the effects of trade liberalisation, using global data from the past two decades. Econophysics methods reveal how business cycles synchronise, and how economic risk propagates throughout the global economic network. The results also highlight inherent problems of structural controllability that are induced during economic crises.

[field_auth], 13 July 2016

For the past 18 months, officials have worried about a global trade slowdown. This column summarises the latest Global Trade Alert report, which shows that, in fact, global trade is not growing slower – it is not growing at all. The plateau in global trade coincided with a spike in protectionism.

[field_auth], 05 July 2016

Economic sanctions serve as a foreign policy tool, but they can also hurt domestic firms doing business in the target country. This column looks at the effects of sanctions imposed by 37 countries on Russia over the conflict in Ukraine. The estimated loss of exports to Russia totalled $3.2 billion per month between December 2013 and June 2015. This loss was mostly incurred by European economies and in products not targeted by retaliations. French firm-level data points to a deterioration of trade finance services as the dominant mechanism.

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