Tepid trade growth since the 2008/2009 global financial crisis (GFC) has been partly attributed to sluggish demand from developed countries. However, data reveals that developing countries play a bigger role in holding back trade growth, while developed countries show quite robust import growth....

We show that traditional gravity variables play a significant role in explaining trade flows related to global value chain participation. We find evidence that cooperation costs - measured by linguistic and geographical proximity - are more relevant for trade that reflects cross-border...

This paper analyzes the link between international trade and exchange rate levels in the context of the global financial crisis (GFC) and the rise of global and regional value chains (GVCs). Using bilateral data for 72 economies over the 2001-2015 period, we find a positive relationship between...