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Preferential Trade Agreements and Global Value Chains : Theory, Evidence, and Open Questions

Ruta, Michele - 2017

Preferential trade agreements today are more numerous and deeper than they were a quarter century ago. Do deep agreements promote countries' integration into global value chains? What are the economic mechanisms? How do countries choose their trade agreement partners? Would the undoing of deep...

Persistent link: https://www.econbiz.de/10012948008

The dynamics of capital flow episodes

Friedrich, Christian; Guérin, Pierre - 2016

This paper proposes a novel methodology for identifying episodes of strong capital flows based on a regime-switching model. In comparison with the existing literature, a key advantage of our methodology is to estimate capital flow regimes without the need for context- and sample-specific...

Persistent link: https://www.econbiz.de/10011438852

Cheap but flighty : how global imbalances create financial fragility

Ahnert, Toni; Perotti, Enrico - 2015

We analyze how a wealth shift to emerging countries may lead to instability in developed countries. Investors exposed to expropriation risk are willing to pay a safety premium to invest in countries with good property rights. Domestic intermediaries compete for such cheap funding by carving out...

Persistent link: https://www.econbiz.de/10011304762

Monetary policy independence and the strength of the global financial cycle

Friedrich, Christian; Guérin, Pierre; Leiva-Léon, Danilo - 2020 - Last updated: June 5, 2020

We propose a new strength measure of the global financial cycle by estimating a regimeswitching factor model on cross-border equity flows for 61 countries. We then assess how the strength of the global financial cycle affects monetary policy independence, which is defined as the response of...

Persistent link: https://www.econbiz.de/10012243375

Horizontal Depth : A New Database on the Content of Preferential Trade Agreements

Hofmann, Claudia - 2017

1958 and 2015, which reflects the entire set of preferential trade agreements in force and notified to the World Trade … World Trade Organization mandate and in four leading areas outside the current World Trade Organization mandate: competition …

Persistent link: https://www.econbiz.de/10012962302

Non-Tariff Measures and the World Trading System

Ederington, Josh - 2017

With the success of the World Trade Organization and its predecessor, the General Agreement on Tariffs and Trade, in … literature on non-tariff measures in the world trading system. It provides a set of stylized facts based on available data on non … measures in the trade literature with a focus on the rules and institutions that govern non-tariff measures in the world …

Persistent link: https://www.econbiz.de/10012969264

Deep Trade Agreements and Vertical FDI : The Devil is in the Details

Osnago, Alberto - 2017

agreements and of vertical foreign direct investment to test the theory. Consistent with the model, the analysis finds evidence … implication of the model is specific to the so-called ?property rights? theory of the multinational firm, the findings provide …

Persistent link: https://www.econbiz.de/10012970742

Depreciations Without Exports? Global Value Chains and the Exchange Rate Elasticity of Exports

Ahmed Hannan, Swarnali - 2017

This paper analyzes how the exchange rate elasticity of exports has changed over time and across countries and sectors, and how the formation of global value chains has affected this relationship. The analysis uses a panel framework covering 46 countries over the period 1996-2012, and first...

Persistent link: https://www.econbiz.de/10012971261

Deep Trade Agreements and Global Value Chains

Laget, Edith - 2018

, but the impact varies by income group. Provisions outside the current mandate of the World Trade Organization (investment … under the current World Trade Organization mandate (tariff reduction and customs facilitation) drive the effect of trade …

Persistent link: https://www.econbiz.de/10012912338

How Much Will the Belt and Road Initiative Reduce Trade Costs?

Soyres, François de - 2018

shipment times and trade costs. For the world, the average reduction in shipment time will range between 1.2 and 2.5 percent …

Persistent link: https://www.econbiz.de/10012909447