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.
Sourcing foreign inputs to improve firm performance
Maria Bas, Vanessa Strauss-Kahn, 14 July 2014
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.
Risks and opportunities of participation in global value chains
Gary Gereffi, Xubei Luo, 14 June 2014
The African Development Bank, OECD Development Centre, and the United Nations Development Programme became the latest international development organisations to use the global value chain (GVC) framework in examining Africa’s potential integration into GVCs in the 2014 African Economic Outlook: Global Value Chains and Africa’s Industrialisation (AfDB, OECD, and UNDP 2014).
Economic integration agreements and the location of vertical FDI
Juan Blyde, Alejandro Graziano, Christian Volpe Martincus, 13 May 2014
Production processes are becoming increasingly fragmented. Many goods that were manufactured in single countries are now sliced in different bundles assigned to plants around the globe, giving rise to what is commonly known as global value chains (GVCs).
Global Value Chains: ‘Factory World’ is emerging
Bart Los, Marcel Timmer, Gaaitzen de Vries, 11 May 2014
To measure international fragmentation of production processes, we introduce a generalisation of Feenstra and Hanson’s (1999) ‘broad’ offshoring measure (Los et al. 2014).
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.
Global value chains in the current trade slowdown
Michael J Ferrantino, Daria Taglioni, 6 April 2014
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.
Measuring competitiveness in a world with global value chains
Michele Ruta, Mika Saito, Jarkko Turunen, 11 October 2013
Since December 2012, the yen has depreciated sharply against the euro and the dollar. Traditional economic reasoning would view this a simple gain of Japanese competitiveness vis-à-vis the US and Eurozone.
Global value chain governance in the era of mega FTAs and a proposal of an international supply-chain agreement
Michitaka Nakatomi, 15 August 2013
As the Doha Round of trade negotiations under the WTO continues to stagnate, mega FTAs – such as the Trans-Pacific Partnership (TPP), the economic partnership agreement between Japan and the EU, and the Transatlantic Trade and Investment Partnership between the US and the EU – will likely play the leading role in trade rulemaking for some time to come.
- 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
Cadot, de Melo, 16 June 2014
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- 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