The decision of the United Kingdom (UK) to leave the European Union (EU) is unprecedented, especially considering the recent trend in the global economy toward economic integration. There is a multitude of research concerning the implications of economic integration; however, research in the...

International trade in manufacturing goods has risen strongly over the past decades, contributing to the expansion of global value chains (GVCs). This paper studies how two factors contributed to this rise since 1970: (i) declining "border effects" that are arguably related to the ICT revolution...

International trade in manufacturing goods has risen strongly over the past decades, contributing to the expansion of global value chains (GVCs). This paper studies how two factors contributed to this rise since 1970: (i) declining “border effects” that are arguably related to the ICT...

This paper studies the role of reduced barriers to international trade from two dimensions: (i) the implementation of Free Trade Agreements and (ii) declining "border effects". Our empirical estimates suggest that diminished border effects accounts for the bulk of the increase in international...

Since the onset of the ongoing United States (US)–People’s Republic of China (PRC) trade dispute in 2017, stakeholders and experts alike have expressed deep concerns that the tensions would come at a cost for the countries involved and the global economy. In this paper, we endeavor to...

In the last two years, the United States has reversed the post-World War II trend toward the lowering of trade barriers and a commitment towards multilateral free trade. Citing a need to “level the playing field” and hold trading partners accountable to their commitments, the current...

We offer a general equilibrium analysis of Brexit incorporating the state-of-the-art differences in productivity and firms' selection within manufacturing sectors à la Melitz (2003) and multinationals in services. Trade, output and average productivity diminish across most sectors in the UK and...

We examine the role of demand composition in explaining the trade collapse and recovery during the ongoing covid-19 crisis. We apply an import-intensity-adjusted measure of demand to examine import trends in 40 advanced and emerging economies over the period 1Q95 to 4Q20. We focus on the crisis...

In light of the unprecedented mutation of the COVID-19 pandemic into a global economic recession, the WTO projects world trade volume to plummet by a staggering 13 percent to 32 percent in 2020. This translates to large-scale losses in global output and employment, especially in trade-oriented...

The current study focuses on India's impressive merchandise export performance during the pandemic, as well as the country's performance in COVID-19-related products. As per the forecasting performed by employing ARIMA model. It was found that India’s export earning in FY 2021-22 is in-fact...