This paper assesses the covariation between GVCs and MNCs with US dollar share in trade invoicing for Asia and Pacific economies. Using the Boz et al. (2020) dataset, the empirical analysis exploits cross-sectional heterogeneities that could explain the region’s high share of exports and...

This paper assesses the covariation between global value chains (GVCs) and multinational corporates (MNCs) with US dollar share in trade invoicing for Asia and Pacific economies.Using the Boz et al. (2020) dataset, the empirical analysis exploits cross-sectional heterogeneities that could...

"The US government has long sought investment opportunities for US companies in developing countries. But the results have been mixed: firms have preferred to invest in the industrial world and developing-world leaders have not always welcomed foreign investment. Violence and the presence of...

Thomas M. Larkin examines the Hong Kong-based Augustine Heard & Company, the most prominent American trading firm in treaty-port China, to explore the ways American elites at once made and were made by British colonial society

The U.S. dollar plays a key role in international trade invoicing along two complementary dimensions. First, most U.S. exports and imports are invoiced in dollars; second, trade flows that do not involve the United States are often invoiced in dollars, a fact that has received relatively little...