This paper takes a first look at the trade effects of China's Belt and Road Initiative, also referred to as the New Silk Road, on the 71 countries potentially involved. The initiative consists of several infrastructure investment projects to improve the land and maritime transportation in the...

Do regional trade agreements negatively impact non-members? This paper revisits this long-standing trade policy question using firm-level data and detailed information on the content of trade agreements. Differently from the conventional view on trade diversion, the analysis identifies a...

Participation in global value chains is a key element in the industrialization strategies of many developing nations. This paper investigates the role of services liberalization in promoting participation in global value chains. Using the gravity framework, it examines the impact of services...