Global value chains in the current trade slowdown

Michael J Ferrantino, Daria Taglioni, 6 April 2014

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Global value chains (GVCs) involve trade in goods that have multiple production stages that take place in many different countries (that is, ‘production fragmentation’ or ‘slicing up the value chain’), and in which multiple imports and exports of intermediate goods are necessary to produce a final good, which may also be exported.

Topics: International trade
Tags: global value chains, great trade collapse, trade slowdown

Uncertainty and the Great Trade Collapse: New evidence

Dennis Novy, Alan Taylor, 19 March 2014

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When the Great Recession hit with full force in 2008, many countries experienced a sharp decline in their economic output. However, the accompanying decline in international trade volumes was even sharper, and almost twice as big.

Topics: Global crisis, International trade
Tags: global crisis, great trade collapse

Trade Prices and the Global Trade Collapse of 2008-2009

Gita Gopinath, Oleg Itskhoki, Brent Neiman, 30 September 2012

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URL: www.cepr.org/pubs/dps/DP9158.asp
Topics: Global crisis, International trade
Tags: great trade collapse, trade prices

The Great Trade Quantities Collapse

Gita Gopinath, Oleg Itskhoki, Brent Neiman, 28 July 2012

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One of the most unique and concerning features of the recent global recession was the sharp collapse in trade values (see Baldwin 2009).

Topics: Global crisis, International trade
Tags: great trade collapse

Estimating trade elasticities: Demand composition and the trade collapse of 2008–09

Matthieu Bussière, Fabio Ghironi, Giulia Sestieri, 14 February 2012

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Topics: International trade, Macroeconomic policy
Tags: great trade collapse, supply chains

South Korea’s temporary trade barriers before and during the crisis

Moonsung Kang, Soonchan Park, 4 September 2011

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During the global crisis there was a severe decline in trade known as the Great Trade Collapse (Baldwin 2009). As described by the OECD (2010) and WTO (2010), in 2009 world merchandise exports fell by 12% while world GDP fell by 2.5%. South Korea (hereafter, Korea) was no exception.

Topics: International trade
Tags: antidumping duties, global crisis, great trade collapse, murky protectionism, South Korea, temporary trade barriers

International trade finance practices

Pol Antràs, C Fritz Foley, 29 July 2011

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During the recent economic crisis, several practitioners claimed that financial constraints contributed to the large decline in global trade flows relative to gross domestic product. Some evidence collected in a survey conducted by the International Chamber of Commerce and in a survey conducted by the IMF and the Banker’s Association for Finance and Trade supported their claims.

Topics: International trade
Tags: great trade collapse, poultry, Trade finance

Dissecting the effect of credit supply on trade

Daniel Paravisini, Veronica E Rappoport, Philipp Schnabl, Daniel Wolfenzon, 27 July 2011

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One of the most striking aspects of the Great Recession was the Great Trade Collapse. According to the IMF Global Data Source, between the first quarter of 2008 and the first quarter of 2009 international trade fell by 15%, while real world GDP fell by 3.7%.

Topics: International trade
Tags: great trade collapse

Is protectionism dying?

Uri Dadush, Shimelse Ali, Rachel Esplin Odell, 7 June 2011

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Though countries enacted hundreds of protectionist measures during the global financial crisis, only a small part of world trade has been affected – just 0.8% between October 2008 and October 2009 (WTO 2011).

Topics: Global crisis, International trade
Tags: great trade collapse, international trade, protectionism

Recovery and beyond: Lessons for trade adjustment and competitiveness

Filippo di Mauro, Benjamin R. Mandel, 5 May 2011

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International trade is in the midst of recovery from its precipitous fall during the 2008-2009 global financial crisis (see Baldwin 2009). Are international markets for goods and services snapping back to their pre-crisis state or, alternatively, did the crisis give rise to long-lasting (even permanent) effects?

Topics: Global crisis, International trade
Tags: exchange-rate policy, great trade collapse, international trade

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