Global trade and payments data, although absolutely essential to an understanding of the pattern and direction of world commerce, are not completely unambiguous. Compilers of such data face numerous problems of definition and measurement of particular components of nations' aggregate external...

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...

We exploit proprietary information on severed correspondent banking relationships (due to the stricter enforcement of financial crime regulation) to assess how payment disruptions impede cross-border trade. Using firm-level export data from emerging Europe, we show that when local respondent...

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...

We study how terminated correspondent banking relationships affect international trade. Drawing on firm-level export data from emerging Europe, we show that when local banks lose access to correspondent services, their corporate clients experience significant export declines. This trade...