Over the past decade, sound macroeconomic policies and an improved business environment have helped generate relatively strong GDP growth. Investments in infrastructure are improving connectivity and trade integration has been facilitated by lower tariffs. Simplification in opening of...

Many studies discuss the "de-industrialization" or "servicification" of economies in both developed and developing countries. Such studies rely on statistics that distinguish a manufacturing from a service sector. But in the age of global value chains (GVCs), it becomes increasingly difficult to...

This study empirically investigates the association between economic institutions and global value chain (GVC) participation, through forward linkages, backward linkages, and GVC participation for 13 MENA countries. The study uses a panel data estimation method controlling for time and country...

Many studies discuss the “de-industrialization” or “servicification” of economies in both developed and developing countries. Such studies rely on statistics that distinguish a manufacturing from a service sector. But in the age of global value chains (GVCs), it becomes increasingly...

This chapter begins with an overview of the impact of the COVID-19 pandemic on economies of Asia generally, before turning to its impact on supply chains specifically, using the medical equipment sector as a case study to illustrate the practical complexities. It then considers the pandemic’s...

Capital control policies have consequences for economic growth and international trade. Using data on 99 countries from 1995 to 2014, we find evidence that the effect of capital controls on trade vary across industries that have differing levels of external financing and asset tangibility. For...

Widespread supply disruptions in the wake of the COVID-19 pandemic and the Russian Federation’s large-scale aggression against Ukraine have raised concerns among policy makers that globalised value chains expose domestic production to shocks from abroad. This paper uses new indicators of...

Policy makers are increasingly grappling with the stability implications of global value chains (GVCs), as widespread supply shortages following the COVID-19 pandemic and the Russian Federation’s large-scale aggression against Ukraine have disrupted the economic recovery and contributed to...

A possible re-election of Donald Trump as US president in November 2024 could entail a significant upheaval for the world trading order, if he fulfills his announcements to raise tariffs, mainly in order to reduce the US trade deficit. Such steps would not only have a negative effect on the...

This paper conducts an in-depth mapping of global value chain (GVC) vulnerabilities, using granular product-level trade data to identify vulnerable products with limited suppliers and substitutability. The study reveals that, in OECD countries, approximately 8% of foreign-sourced intermediate...