External economic integration is often argued to be an important driver of economic development, as it raises income through specialisation in comparative-advantage sectors, provides low-cost access to imported goods, and shapes the pattern of structural transformation from agricultural into non-agricultural activities.
External integration, structural transformation, and economic development: Evidence from Argentina 1870-1914
Pablo Fajgelbaum, Stephen Redding, 12 July 2014
Roads to deeper European integration
Henrik Braconier, Mauro Pisu, 20 February 2014
Over the past 60 years, increasing European integration has brought peace and security, besides contributing to large social welfare gains (through lower prices and a larger variety of products).
Trade costs in the developing world: 1995-2010
Jean-François Arvis, Yann Duval, Ben Shepherd, Chorthip Utoktham, 17 March 2013
Why are trade costs important?
Do falling trade costs benefit all countries equally?
Dennis Novy, 11 October 2012
When the Great Recession hit in 2008, many countries experienced a collapse of their exports and imports. For example, US exports went down by around 25% between 2008 and 2009, and Japanese exports declined by a staggering 40%. This Great Trade Collapse has attracted a lot of attention (see Baldwin 2009). Leading explanations include a sharp drop in demand and a trade-credit crunch.
Temporary trade: Exporting only once in a while
Gábor Békés, Balázs Muraközy, 20 September 2012
Empirically, there is a hump-shaped curve relating export diversification and economic development (Cadot et al. 2011). Many countries on the rising part of the curve seek to diversify their exports (in terms of shipped products and destinations) as a way of boosting income or reducing risk.
There goes gravity: How eBay reduces trade costs
Marcelo Olarreaga, Andreas Lendle, Simon Schropp, Pierre-Louis Vézina, 19 August 2012
Vox readers can download CEPR Discussion Paper 9094 for free here.
The 1967-75 Suez Canal closure: Lessons for trade and the trade-income link
James Feyrer, 23 December 2009
Does the removal of trade barriers increase trade? Does trade increase income? These questions are crucial for thinking about the impact of trade liberalisation and yet they are extremely difficult to answer. Ever since Smith and Ricardo, economists have firmly believed that trade increases income.
Explaining two trade busts: Output vs. trade costs in the Great Depression and today
Douglas L. Campbell, Christopher M. Meissner, Dennis Novy, David Jacks, 19 September 2009
If the world economy is now in “purgatory,” as Paul Krugman recently suggested on a TV talk show, global trade has gone to hell and not yet returned. Between July of 2008 and February of 2009, nominal world trade plummeted by 42%.
Revisiting the death of distance
David Jacks, 12 September 2009
Since Cairncross (1997), the notion of the “death of distance” has gained traction, both in the work of academics but more especially in the popular image of globalisation. Citing radical improvements in the cost and efficacy of long-distance communication and transportation, Cairncross depicts a world marked by the free movement of goods, people, and ideas.
The limits to offshoring
Wolfgang Keller, Stephen Yeaple, 17 March 2009
Offshoring is the movement of jobs to other countries. While this may raise overall welfare, it means lower employment opportunities and possibly lower wages domestically. Offshoring is the major cause for the decline in self-reported work life quality in many countries.
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- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
Cadot, de Melo, 16 June 2014
CEPR Policy Research
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- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche
- The economics of Scottish independence in an interdependent worldHughes Hallett
- Making city lights shine brighterYusuf, Leipziger
- The euro in the 'currency war'Bénassy-Quéré, Martin
- The roots of shadow bankingPerotti
- What’s wrong with Europe?Baldini, Manasse
- Corporate Finance Theory Symposium19 - 20 September 2014 / Cambridge / Judge Business School, Cambridge University
- International Trade, Finance, and Macroeconomics: Research Frontiers and Challenges for Policy18 - 19 December 2014 / The Bank of England, London / The Bank of England, Centre for Macroeconomics and CEPR