Currently, global value chains (GVCs) are increasingly shaping the global economy, covering a growing share of international trade, GDP, and employment globally. Global trade is impacted by the emergence of GVCs in areas as diverse as commodities, electronics, and business service outsourcing,...

The COVID-19 crisis can turn into the biggest emerging market (EM) crisis ever. EMs observed the financial shock first, with the tightening global financial conditions. They will soon experience the full wrath of the perfect storm with possibly much larger spill-back effects for the global...

This article examines exchange rate pass-through into prices of internationally traded goods in the case of a small emerging open market economy such as Turkey. In this study, we provide empirical evidence on complete pass-through in export prices in Turkey using aggregate data on the...

In this paper I survey and reinterpret the extensive literature on Europe's Great Depression. I argue that Europe could not exploit her vast economic potential after 1918, because the war had not yet come to an end - indeed it did not end before 1945. Both, domestic and international...

In this paper we examine the changing nature of Japan's commercial policy over the last 25 years while reviewing Japan's changing structure of trade, FDI and economy that underlay policy changes. We argue that until the late 1990s Japan adopted a two-track approach of relying on multilateral...

This paper aims to understand and examine one of the domestic determinants of Brazilian foreign trade policy strategies from 1995 to 2010, focusing on the articulation of its trade policy with its foreign policy at large. Thus, the role of multilateralism and regionalism in Brazilian foreign...

The objective of the present paper is to analyze the Trade Defence Policy of the BICs, in the last 15 years, with emphasis to similarities and contrasts. The paper starts with the exam of the main issues of trade defence regulation as established in the GATT and the WTO. Then it moves to the...

In this paper we examine the changing nature of Japan's commercial policy over the last 25 years while reviewing Japan's changing structure of trade, FDI and economy that underlay policy changes. We argue that until the late 1990s Japan adopted a two-track approach of relying on multilateral...

Ethiopia is currently involved in a number of international trade negotiations which will have a far-reaching impact on the Ethiopian economy. Negotiations take place both at the multilateral level (Ethiopia's accession to the World Trade Organisation) and inter-regionally (Economic Partnership...

Over the years, the substantive content of international investment agreements (IIAs) has shifted to reflect political change and to respond to lessons learnt in investor-state dispute settlement (ISDS). With a focus on eight IIAs, selected with a view to geographical representativeness, this...