Mercado, Rogelio; Das, Sanchita Basu; Jacildo, Ryan - 2022
This paper assesses the covariation between GVCs and MNCs with US dollar share in trade invoicing for Asia and Pacific … explain the region’s high share of exports and imports invoiced in the US dollar. The results show that Asia and Pacific … invoiced in US dollar. In addition, Asia and Pacific economies with more MNCs usually have a significantly higher share of …