Purpose – The purpose of this paper is to examine patterns and determinants of trade among developing countries (South-South trade), with emphasis on the role of production sharing in global economic integration of the Southern economies. Design/methodology/approach – The paper begins with...

The rapid rise in global fragmentation - foreign investment, global supply chains, and 'production sharing' - is fundamentally reshaping the multilateral trading system. This paper uses a simple economic modeling framework to understand how the global fragmentation phenomenon may reshape the...

The half century leading up to the crisis of 2008-2009 was the best such period in world economic history, especially in the Asia Pacific. Peace and relative economic stability permitted unprecedented liberalization, economic integration, and advances in productivity and growth. But the...

The concept of globalization refers to the growing interdependence of countries, resulting from the increasing integration of trade, finance, investments, labor markets and ideas in one global marketplace. The most important elements of this process are the international trade and the...

A populist backlash to globalization has ushered in nationalist governments and challenged core features of the liberal international order. Although startling in scope and urgency, the populist wave has been developing in declining regions of wealthy countries for some time. Trade, offshoring,...

The post Second World War liberal trade order has been a driver of global economic growth and rising average per capita incomes. This order confronts increasing opposition, reflecting concerns about adjustment costs and distributional effects of globalization, and the ability to pursue national...

Trade regulation may never have been in more flux than it is now. Other than the emergence of ‘megaregionals' (such as the Transatlantic Trade and Investment Partnership-TTIP or the Trans-pacific Partnership-TPP) and the difficulties in finalizing the Doha Development Agenda, increased...

We discuss the role of the dispute settlement mechanism (DSM) of the World Trade Organization (WTO) in the context of a complex characterization of globalization. The dispute settlement mechanism (DSM) of the World Trade Organization (WTO) is at present a controversial exercise at the...

The raise of global value chains, closely knitting together firms from many different countries, changed the nature of trade and the relevance of established models and corresponding statistical indicators. What was initially an innovation in business management became so successful that it...