The trade collapse that followed the recent financial crisis has led to a renewed interest on the measurement issues affecting international merchandise trade statistics in the new globalized economy. The international fragmentation of industrial production blurs the concept of country of origin and calls for the production of new statistics on the domestic content of exports...
This paper aims to develop a storyline for the WPGI/CIIE work on global value chains (GVCs) for the PWB of 2011-2012, by bringing together the empirical evidence and analytical research on GVCs and analyzing new policy issues. The objective of the WPGI activities on GVCs is to develop policy relevant analysis and provide analytical support for the policy discussion in the CIIE. The work on GVCs will be undertaken in close coordination with the work on ‘New Sources of Growth’ given the complementarities between the two projects…
The past decades have witnessed a rapid globalisation of economic activity which has significantly changed the outlook of the world economy. International production, trade and investments are increasingly organised within so-called global value chains (GVCs) where the different stages in the production process are located across different economies. Until now, GVCs have been largely discussed from a conceptual and theoretical view, but empirical work on international fragmentation has stayed a bit behind…
Special Topic: Services' Contribution to Manufacturing
The U.S. International Trade Commission’s latest update in this series of reports presents results on the economic effects on the U.S. economy of removing significant U.S. import restraints, including U.S. tariffs and tariff-rate quotas on certain agricultural products, textiles and apparel, and other manufactured products.
The Commission estimates that liberalization of all significant import restraints quantified in this update would increase annual U.S. welfare by $1.1 billion by 2017.
The eighth update also features a special topic chapter on the role of services in manufacturing, which explores trends in U.S. manufacturers’ use of services and the contribution of services to manufacturing output and productivity.
From trade in goods to trade in tasks
The geographical fragmentation of production has created a new trade reality. Often referred to as global value chains or vertical specialization, this fragmentation deepens the interdependency of trade relations and has many implications for how we understand trade policy. This book sheds light on the nature of this interdependency, and the contribution of trade to national economies. It illustrates the conjunction of technical, institutional and political changes that led to the emergence of production and trade networks in East Asia…