Global Manufacturing and International Supply Chains changed the way trade and international economics are understood today. The present essay builds on recent statistical advances to suggest new ways of looking at the demand and supply side approaches when Global Value Chains (GVCs) -...

This paper investigates the scope for international rules to address market failures in trade in natural resources and the associated international transactions of prospecting and investment in resource exploitation. We argue that several market failures are likely to have substantial costs....

This essay reviews the historical and ongoing role played by trade in sustained high growth and human development progress, and makes the case that the post-2015 development agenda should include considerations related to trade rules and supply-side capacity. Given the strong links between...

This paper examines empirically whether Aid for Trade (AfT) programmes and Foreign Direct Investment (FDI) inflows affect export upgrading and, if so, whether their effects are complementary or substitutable. Export upgrading entails export diversification (including overall export...

Geopolitical conflicts have increasingly been a driver of trade policy. We study the potential effects of global and persistent geopolitical conflicts on trade, technological innovation, and economic growth. In conventional trade models the welfare costs of such conflicts are modest. We build a...

Economic projections for the world economy, particularly in relation to the construction of Computable General Equilibrium (CGE) baselines, are generally rather conservative and take scant account of the wide range of possible evolutions authorized by the underlying economic mechanisms...

On the occasion of the 25th anniversary of the WTO, this paper re-estimates the impact of WTO accession on growth. Joining the multilateral trading system not only expands access to international markets but also requires commitment to domestic reforms. Tang and Wei (2009) showed that there is...