This paper explores the impact of vertical specialization on world trade within the framework of the O-ring theory of …, the sector in which vertical specialization is most prominent. It appears that vertical specialization adds to total world …

important questions about the resilience of the global economy to such shocks. The World Trade Report 2021 explores the basic … dependent on a limited number of importers, exporters and sectors. The World Trade Report 2021 shows that a more open, inclusive … economic resilience so that the world is better prepared to deal with future crises. …

This paper quantifies the extent of preferential trade as a share of total world trade in different regions of the … world and for two periods. Results show that: i) preferential trade represented 40% of world trade in the period 1988 … shares in Asia and Oceania (around 4 per cent) and average values in the rest-of-the-world (Eastern Europe and Africa); iv …

The world is changing with extraordinary rapidity, driven by many influences, including shifts in production and … consumption patterns, continuing technological innovation, new ways of doing business and, of course, policy. The World Trade … world trade. One of the most significant drivers of change is technology. Not only have revolutions in transport and …