Views on Africa’s growth prospects have jumped from utter pessimism to extreme enthusiasm. The latter has been centre-stage with the US–Africa Summit hosted in Washington DC from 4–6 August 2014, with the participation of top political and business leaders.
African growth looking forward
Marco Annunziata, 16 August 2014
Why the US and EU are failing to set information free
Susan Ariel Aaronson, 14 July 2014
Tim Berners-Lee, the architect of the World Wide Web, taught us that the internet we have is a function of the choices we (users, companies, policymakers, etc.) make about information flows. For example, in 1995, Berners-Lee chose not to patent his work on the World Wide Web because he feared patenting it could limit its universality and openness. He continues to advocate this.
Topics: EU policies, Global governance, International trade
Tags: data protection, EU, free trade agreements, Human rights, Information, information technology, internet, national security, privacy, technology, trade, US, WTO
Sourcing foreign inputs to improve firm performance
Maria Bas, Vanessa Strauss-Kahn, 14 July 2014
Should trade policy fight or promote imports of intermediate inputs? While several studies have shown the recent increase in imports of intermediate goods, their role in shaping domestic economies is not yet completely understood. Following the work of Feenstra and Hanson (1996), a large literature focuses on the impact of imported intermediate inputs on employment and inequality.
Connecting Brazil to the world
Patricia Ellen, Jaana Remes, 12 July 2014
Despite a decade of rapid growth and falling poverty rates, Brazil has failed to match the global average for income growth – let alone to achieve the kind of impressive gains posted by other rapidly transforming emerging economies.
Mega-regionals and the mega-mess: A way out
Jayant Menon, 9 June 2014
Jagdish Bhagwati (1991) famously described the maze of overlapping free trade agreements (FTAs) as akin to a ‘spaghetti bowl’. Several decades later, with the rise of mega-regionals like the Regional Comprehensive Economic Partnership and the Trans-Pacific Partnership (TPP), the fragmentation of the world trade system more closely resembles a jigsaw puzzle.
Topics: Global governance, International trade
Tags: free trade agreements, mega-regionals, multilateralisation of preferences, reciprocity, Regional Comprehensive Economic Partnership, trade, trade liberalisation, Trans-Pacific Partnership, WTO
Migrant networks and trade: The Vietnamese boat people as a natural experiment
Christopher Parsons, Pierre-Louis Vézina, 23 May 2014
Immigrants potentially foster international trade by reducing trade costs. Such frictions are quantitatively large, especially for poor countries (Anderson and van Wincoop 2004), and recent research has singled out information costs in particular as inhibiting trade flows (Chaney 2011, Allen 2012, Steinwender 2013).
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
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
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.
Sustainable growth requires a long-term focus
Pascal Lamy, Ian Goldin, 28 March 2014
Just when we thought high-frequency trading couldn’t get any faster, a US communications company is developing a high-speed laser network between the New Jersey data centres of the New York Stock Exchange and the NASDAQ stock exchange, to shave an additional few nanoseconds off high-frequency trading times.
Topics: Environment, Financial markets, Global crisis, International trade
Tags: climate change, corporate governance, environment, global crisis, growth, high-frequency trading, mark-to-market accounting, short-termism, trade
Waste of effort? International environmental agreements
Derek Kellenberg, Arik Levinson, 1 March 2014
To address environmental problems that span national borders, countries have negotiated more than 1,000 international environmental agreements (IEAs). But do they work? According to most theoretical economic models, because of free-rider problems IEAs cannot reduce pollution much below business-as-usual levels (Barrett 1994, 1997; Carraro and Siniscalco 1993; Finus and Maus 2008).
- Secular stagnation: Facts, causes, and cures – a new Vox eBookTeulings, Baldwin
- Can large primary surpluses solve Europe’s debt problem?Eichengreen, Panizza
- The unrecognised benefits of grade inflationBoleslavsky, Cotton
- The US manufacturing base is surprisingly strongMoran, Oldenski
- Long-term damage of the US court’s Argentinian debt rulingFrankel
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- 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