When it comes to global trade flows, the world is still far from flat. What kind of trade barriers explain the “missing trade” (Trefler 1995)? Economists have recognised that indirect barriers are more important than direct trade barriers (e.g. tariffs), but the precise nature of these barriers is still poorly understood (Anderson and van Wincoop 2004, Head and Mayer 2013).
Understanding the GATT’s wins and the WTO’s woes
Richard Baldwin, 5 June 2010
Information frictions and the law of one price: "When the states and the kingdom became united"
Claudia Steinwender, 16 January 2014
The dragon awakes: Is Chinese competition policy a cause for concern?
Mario Mariniello, 9 November 2013
Foreign businesses are increasingly realising that China has antitrust laws, and is not shy about using them. The Glencore/Xstrata merger in the spring was cleared only with conditions imposed by the Chinese Ministry of Commerce. In August, the Chinese National Development and Reform Commission imposed a record €82 million fine on milk powder producers for a price-fixing conspiracy.
Awakening the WTO
Hector R. Torres, 21 September 2013
Admitting that 'the present is just a snapshot in a journey' is disconcerting, so we feel better assuming that the current state of affairs will turn out to be permanent. Indulging in this mistake is common, and we also see it happening in multilateral institutions – particularly if they do not have a watchdog to keep them free from self-deception.
Offshoring and its effects on innovation in emerging economies
Ursula Fritsch, Holger Görg, 23 September 2013
Most empirical studies of the impact of outsourcing on firms look at industrialised countries. However, outsourcing is also common in emerging economies, and firms in middle-income countries split up their production processes similarly to firms in developed countries (see figures in Miroudot et al. (2009) on trade in intermediates).
Why does finance matter for trade? Evidence from new data
Marc Auboin, Martina Engemann, 3 December 2012
Academic interest in the role of trade finance has grown in the context of the financial crisis of 2008-09 and the subsequent economic downturn, just as policymakers’ interest was once caught by the Asian financial crisis (IMF 2003).
Global trade in services: Fear, facts, and offshoring
J. Bradford Jensen, 19 November 2012
Should the US, or indeed the EU, Japan, Canada, or Australia, fear increased trade in services? As the ‘Really Good Friends of Services’ discussions gain momentum in Geneva, it seems an important time to ask1.
Coping with loss: The impact of natural disasters on developing countries' trade flows
Jorge Andrade da Silva, Lucian Cernat, 9 February 2012
The European Commission has recently published its Trade and Development Communication, which underlines trade as one of the key drivers to support development, stimulate growth, and lift people out of poverty.
Import protection and the Great Recession
Chad P Bown, 29 August 2011
The global economic contraction of 2008-09 and the trade collapse stoked concern over a return to Great Depression-like economic conditions and autarkic government policies, including resort to new trade barriers (see Evenett 2011).
The value-added content of trade
Robert Johnson, Guillermo Noguera, 7 June 2011
Trade in intermediate inputs accounts for roughly two-thirds of international trade. This input trade reflects the increasing fragmentation of production processes across borders.1 It also creates two distinct challenges for measuring international interdependence.
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CEPR Policy Research
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- 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