Why the US and EU are failing to set information free

Susan Ariel Aaronson, 14 July 2014

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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

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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.

Topics: International trade
Tags: employment, exports, global value chains, imports, Inequality, Intermediate inputs, outsourcing, productivity, trade, wages

Connecting Brazil to the world

Patricia Ellen, Jaana Remes, 12 July 2014

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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.

Topics: Development, International trade, Productivity and Innovation
Tags: Brazil, development, global value chains, globalisation, growth, MERCOSUR, openness, productivity, trade

Mega-regionals and the mega-mess: A way out

Jayant Menon, 9 June 2014

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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

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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).

Topics: International trade, Migration
Tags: migrant networks, trade, US exports, Vietnam

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

Sustainable growth requires a long-term focus

Pascal Lamy, Ian Goldin, 28 March 2014

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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

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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).

Topics: Environment, International trade
Tags: environment, trade, waste

How the euro synchronised EZ cycles

Ayako Saiki, Sunghyun Henry Kim, 2 February 2014

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Prior to the introduction of the euro, the topic of whether the Eurozone fulfils the conditions for an optimum currency area was highly debated (e.g. Bayoumi and Eichengreen 1992).

Topics: EU institutions, International finance, International trade
Tags: business cycles, East Asia, euro, eurozone, optimum currency area, supply chains, trade

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