Gross trade accounting: A transparent method to discover global value chain-related information behind official trade data: Part 2

Zhi Wang, Shang-Jin Wei, Kunfu Zhu, 16 April 2014

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Analytical background

Topics: International trade
Tags: comparative advantage, competitiveness, global supply chain, global value chains, globalisation, statistics, trade

Gross trade accounting: A transparent method to discover global value chain-related information behind official trade data: Part 1

Zhi Wang, Shang-Jin Wei, Kunfu Zhu, 7 April 2014

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Production segmentation across national borders has become an important feature of the world economy. With the rapid increase in intermediate trade flows, trade economists and policymakers have reached a near consensus that official trade statistics based on gross terms are deficient, often hiding the extent of global value chains.

Topics: International trade
Tags: global supply chain, global value chains, globalisation, statistics, trade

Competing successfully in a globalising world: Lessons from Lancashire

Nicholas Crafts, Nikolaus Wolf, 22 October 2013

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The ‘first globalisation’ of the 19th century – driven by the substantial falls in trade costs associated with the age of steam – saw the ‘First Unbundling’ (Baldwin 2006), in which industrial production and consumption became spatially separated, often by large distances.

Topics: Economic history, International trade
Tags: agglomeration, cities, cotton, globalisation, Industrial Revolution, industrialisation, Lancashire, trade, wages

Rethinking competitiveness: The global value chain revolution

Marcel Timmer, Bart Los, Robert Stehrer, Gaaitzen de Vries, 26 June 2013

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The rise of global value chains is posing new challenges to analyses of international trade and countries’ competitiveness. Traditional measures are based on the assumption that all activities in the production of a good take place in the domestic economy, using domestic input only.

Topics: International trade
Tags: global value chains, globalisation

Is financial globalisation in retreat? And if so, does it matter?

Richard Dobbs, Susan Lund, 19 June 2013

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Cross-border capital flows – including foreign direct investment, investor purchases of foreign bonds and equities, and cross-border lending – rose from $0.5 trillion in 1980 to a peak of $11.8 trillion in 2007 as national financial markets grew ever more tightly integrated.

Topics: International finance
Tags: globalisation

The 'Good Global Citizen' remit for the international community: A novel responsibility for the IMF

Biagio Bossone, Roberta Marra, 16 March 2013

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A fundamental lesson from the Great Recession is that global instability is more than the sum of domestic instabilities of single countries (Borio 2011). Not only do country exposures to global factors matter a lot: those same global factors, while they are considered to be exogenous from each country, are in fact endogenous to their collective behaviour.

Topics: Global crisis, Global governance
Tags: globalisation, Group of Lecce, IMF

Can trade policy set information free?

Susan Ariel Aaronson, 22 December 2012

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 Although the internet is creating a virtuous circle of expanding global growth, opportunity, and information flows (Lendle et al. 2012), policymakers and market actors are taking steps that undermine access to information, reduce freedom of expression and splinter the internet (Herald 2012).

Topics: Frontiers of economic research, International trade
Tags: globalisation, internet, technology, trade

Value-added exchange rates

Rudolfs Bems, Robert Johnson, 6 December 2012

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Real effective exchange rates (REERs) are widely used to gauge competitiveness. Yet conventional REERs, based on gross trade flows and consumer price indexes (CPIs), are not well suited to that role when imports are used to produce exports – i.e., with vertical specialisation in trade.

Topics: Competition policy, Global economy, International trade
Tags: China, competitiveness, Germany, global imbalances, globalisation, iPhone, supply chains, trade

Myths about trade, jobs, and competitiveness

Charles Roxburgh, Richard Dobbs, Jan Mischke, 31 May 2012

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This is not a happy time for mature economies. They are facing:

Topics: Development, International trade
Tags: competitiveness, emerging markets, globalisation, jobs, protectionism

New-paradigm globalisation and networked FDI: Evidence from Japan

Richard Baldwin, Toshihiro Okubo, 24 May 2012

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International trade theory is going through another revolution – the third in three decades.

Topics: International trade
Tags: FDI, globalisation, Japan

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