Global Value Chains are a dominant feature of today's global economy, yet their analysis is still incipient from an empirical perspective. Building on a recent OECD-WTO database and the results of an on-going research at WTO, the present essay contributes at filling this gap. The effective...

The paper analyses the interindustry spillover effects of bilateral trade conflicts using the example of the 2018-2019 China-USA bilateral trade war. Empirical results are produced using a new heuristic method based on hypothetical extraction and substitution in an International Input-Output...

The world’s economy did not suffer de-globalisation after the 2008-2009 Global Crisis, but entered a phase of "New Normal". While trade-income elasticity has been returning to its pre-1990s long-term values, the world is much more open to trade today than it was 25 years ago. We show that part...

This background paper provides a general picture of the characteristics and dynamics of Global Value Chains (GVC) in the Commonwealth countries. The main building blocks of the empirical analysis are based on a measure of inter-industrial linkages between and across between 43 of the 53...