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

The WTO and the world trading system ‘post Bali’ – Part 2

Gary Horlick interviewed by Viv Davies, 31 Jan 2014

World-leading trade lawyer, Gary Horlick, talks to Viv Davies about the 2013 WTO Bali ministerial conference and the post-Bali agenda. Horlick discusses food security, agriculture and whether mega regional trade agreements pose a threat to the future of the WTO. They also discuss the potential benefits of the post-Bali agenda for developing countries and the ‘trade transforming’ effect of SMEs and the internet. The interview was recorded in January 2014.

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See Also

Simon J Evenett, Alejandro Jara , Building on Bali: A Work Programme for the WTO, A Vox eBook, 18 December 2013.

Editor’s note: This is the second in a two-part series of Vox Talk interviews on the WTO ‘post Bali’. Part 1, posted last week, featured Alejandro Jara.

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Topics: Global governance, International trade
Tags: Bali package, megaregionals, regional trade agreements, supply chains, trade, WTO

The WTO and the world trading system ‘post Bali’ – Part 1

Alejandro Jara interviewed by Viv Davies, 25 Jan 2014

Alejandro Jara talks to Viv Davies about the 2013 WTO Bali ministerial conference and the recent Vox report, ‘Building on Bali’, co-edited with Simon Evenett. Jara presents his views on the post-Bali agenda, mega regional trade agreements and trade protectionism. They also discuss the extent to which the ‘global value chain revolution’ has changed the nature and focus of international trade and trade agreements. Jara concludes by presenting policy recommendations for the way forward. The interview was recorded in January 2014.

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See Also

Simon J Evenett, Alejandro Jara , Building on Bali: A Work Programme for the WTO, A Vox eBook, 18 December 2013.

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Topics: Global governance, International trade
Tags: Bali package, megaregionals, regional trade agreements, supply chains, trade, WTO

Multilateralising 21st-century regionalism

Richard Baldwin, 20 January 2014

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Trade and trade agreements used to be relatively simple. Trade primarily meant trade in ‘made-here-sold-there’ goods, so 20th-century regional and multilateral trade agreements dealt primarily with barriers to goods crossing borders – especially tariffs. For governments, the key purpose of trade and trade agreements was to help their firms sell things.

Topics: Global governance, International trade
Tags: global value chain, harmonisation, megaregionals, network effects, regional trade agreements, supply chains, trade, WTO

Why high-income places manufacture high-quality products

Jonathan Dingel, 21 December 2013

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The well-known Linder hypothesis (1961) posits that profitably exporting a product requires robust demand for that product in the exporter's home market. Since higher-income consumers tend to purchase higher-quality products, Linder conjectured that demand by local consumers causes high-income countries to produce and export high-quality products.

Topics: International trade
Tags: economic geography, quality specialisation, trade

Global value chains, interdependence, and the future of trade

Pascal Lamy, 18 December 2013

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Today, the expansion of global value or production chains means that most products or services are assembled with inputs from many countries. We may still think in terms of Ricardo’s world of trade between nations, but in reality most trade now takes place within globe-spanning multinational companies and their suppliers.

Topics: International trade
Tags: Bali, Doha, global supply chains, mega-regional negotiations, trade, WTO

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