The Millennium Round of MTNs, which was stillborn in Seattle, was supposed to have initiated wide-sweeping changes to the world's trading system. This paper deals with the impact on the German economy of some changes that might have been forthcoming from proposed liberalization strategies. It...

The recent literature on the duration of trade has predominantly analyzed the determinants of trade flow durations using Cox proportional hazards models. The purpose of this paper is to show why it is inappropriate to analyze the duration of trade with continuous-time models such as the Cox...

The objective of this paper is twofold. First, against the background of an existing empirical literature on the duration of trade which has found that international trade is often of strikingly short duration, we aim to establish whether or not EU imports from the rest of the world also are...

Aiming to explore how the survival of trade flows has evolved over time, we analyze a rich data set of detailed imports to individual EU15 countries from 140 non-EU exporters, covering the period 1962-2006. We find that short duration is a persistent characteristic of trade throughout the...

The European Union (EU) is becoming more inward looking and more hesitant towards globalization. This paper examines recent transformations in EU's economic policies, with a focus on international trade and industrial policy. It argues that these changes reflect the EU's response to the evolving...

The paper examines why ‘globaphobia’ seems to be more prevalent among labour in the United States than in Europe. It argues that globalization has generated more wealth, but also more income inequality and adjustment problems, in America than in Europe. In the United States, the median voter...

For Africa, a regional customs union is unlikely to realise net welfare gains (in the sense of trade creation dominating trade diversion) which cannot be attained through unilateral trade liberalization. Unilateral reform has often failed in Africa, however. A regional customs union tied to...

We develop a model where trade liberalization leads to skill-biased technological change, which in turn raises the relative return to skilled labour. As firms get access to a larger market, they have incentives to choose a more skill-intensive technology because a lowering of variable costs...

This paper evaluates firms' exporting responses to BRI and considers their heterogeneity in ownership types, product types, regional origin and trade mode. This is done by analyzing firm-product-destination level customs data from 2011 to 2015 in a gravity model framework. Our empirical results...

Chinese investment abroad has grown significantly in connection with the Belt and Road Initiative. This article tries to answer two questions: first, what considerations gave birth to the BRI? And second, what are the project's economic effects in terms of capital flows and international trade?...