The Global Forum website tries to keep track of the ever changing landscape of trade analysis, measurement of trade and trade statistics. The site keeps a database of links to over 150 relevant publications, reports, articles and speeches.
It is increasingly rare that a good or a service is entirely produced at one location and then exported to a final consumer. Rather, production of a good or even service involves an increasingly complex process with intermediate inputs and supporting activities sourced globally from wherever it is most efficient to do so. These complex international production arrangements have come to be known as global value chains (GVCs)...
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The paper focuses on systemically important jurisdictions in the global trade network, complementing recent IMF work on systemically important financial sectors. Using the IMF’s Direction of Trade Statistics (DOTS) database and network analysis, the paper develops a framework for ranking jurisdictions based on trade size and trade nterconnectedness indicators using data for 2000 and 2010. The results show a near perfect overlap between the top 25 systemically important trade and financial jurisdictions, suggesting that these ought to be the focus of risk-based surveillance on cross-border spillovers and contagion. In addition, a number of extensions to the approach are developed that can provide a better understanding of trade dynamics at the bilateral, regional, and global levels.
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The global crisis of 2008–09 and its ongoing aftershocks have focused attention on the possible risks associated with global interconnectedness. Absent a satisfactory theory and empirics on the relationships among interconnectedness, stability, and policies, however, following through on the calls in the Triennial Surveillance Review for ncorporating interconnectedness into the Fund’s policy and risk analysis is challenging.
This paper characterizes the architecture of cross-border trade and financial interconnectedness and points to how it might inform the Fund’s work.
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This note provides an overview of the theoretical and empirical literature in the implications of greater trade and financial integration for the volatility and sychronization of business cycles.
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New Opportunities and Strategies for Structural Transformation in developing countries
Justin Li
2011
When the World Institute for Development Economics Research (WIDER) was established in 1984 as the first research and training center of the United Nations University under the visionary leadership of then Secretary General Javier Pérez de Cuéllar, its mandate was set out quite clearly: ―To undertake multidisciplinary research and policy analysis on structural changes affecting the living conditions of the world's poorest people; To provide a forum for professional interaction and the advocacy of policies leading to robust, equitable and environmentally sustainable growth; and To promote capacity strengthening and training for scholars and government officials in the field of economic and social policy making.‖ Since then, WIDER has contributed enormously to the strengthening of the development knowledge.
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Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises—the 1997-98 Asian financial crisis and the 2008-09 great recession, financial crisis and collapse of global trade. Its success contradicts its characterization as an example of export-led growth and highlights the role of the state, particularly in maintaining and influencing investment…
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The current global crisis may change globalization itself, as both developed and developing countries adjust to global imbalances that contributed to the crisis. Will these changes help or hinder economic recovery and growth in South Asia? This is the focus of this paper. The three models of globalization--trade, capital, and economic management--may not be the same in the future...
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EThe growing internationalisation of the production of goods and services means that national economies are becoming more and more interconnected. This process of economic globalisation is characterised by increasing international trade and foreign direct investments, and by a growing role of multinational enterprises...
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Globalisation has become a popular and much discussed topic over the past two decades. International developments have major implications particularly for a small and open economy like the Netherlands. The recent financial and economic crisis illustrates the role the international economy plays for the Netherlands...
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Economic globalisation is characterised by increasing international trade, foreign investment and international outsourcing. For the Netherlands, this concerns activities by Dutch multinational firms abroad as well as foreign enterprises in the Netherlands. Not only do these cross-border activities have important economic consequences, they also raise a number of questions with respect to employment...
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This fifth edition of the Internationalisation Monitor describes recent developments in international trade in goods and services, foreign direct investment, multinational enterprises, and traffic and transport. In addition, four analytical chapters provide an in-depth analysis of enterprise dynamics and the role of (increasing) internationalisation in this respect.
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As the term is usually employed, "globalization" implies that not only has consumption been internationalized through cross-border trade in goods and services, but production also has been internationalized through foreign direct investment.1 In discussions relating to statistical indicators of globalization, it is commonly taken for granted that data on cross-border trade will be available, and so the attention is focused on information relating to the operations of direct investment enterprises, or affiliates…
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The global offshore corporate services (OCS) market includes a broad range of activities, from call and contact centers to business processes to software development. New, more knowledge-intensive services have started to be successfully offshored on a large scale in recent years, whether through outsourcing or through in-house operations. The increasing size, diversity and complexity of this market have generated opportunities for a growing number of developing countries, including in Latin America and the Caribbean…
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Jens Matthias Arnold
Beata Javorcik
Molly Lipscomb
Aaditya Mattoo
2010
Conventional explanations for the post-1991 growth of India’s manufacturing sector focus on goods trade liberalization and industrial de-licensing. We demonstrate the powerful contribution of a neglected factor: India’s policy reforms in services. The link between these reforms and the productivity of manufacturing firms is examined using panel data for about 4,000 Indian firms for the period 1993-2005...
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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…
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The media publish economic data on a daily basis. But who decides which statistics are useful and which are not? Why is housework not included in the national income, and why are financial data available in real time, while to know the number of people in employment analysts have to wait for weeks? Contrary to popular belief, both the availability and the nature of economic statistics are closely linked to developments in economic theory, the requirements of political decision-makers, and each country’s way of looking at itself...
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The Case of the Manufacturing Industry in Korea, Mexico and Turkey
Özlem Onaran
Catherine A. Milot
Yoto V. Yotov
2007
The aim of this paper is to analyze the changes in the wage share in manufacturing industry in Mexico, Turkey, and Korea in the era of globalization. The focus is on the one hand over the effects of globalization on the wage share , which are measured by the effects of international trade and FDI intensity of the economy. On the other hand, the process of opening up has been accompanied by major currency crises in most developing countries in the last decade, which has affected the wage share through exchange rate depreciation and economic recession...
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Non-equity modes of international production and development
UNCTAD
2011
Global foreign direct investment (FDI) inflows rose modestly by 5 per cent, to reach $1.24 trillion in 2010. While global industrial output and world trade are already back to their pre-crisis levels, FDI flows in 2010 remained some 15 per cent below their pre-crisis average, and nearly 37 per cent below their 2007 peak. UNCTAD predicts FDI flows will continue their recovery to reach $1.4–1.6 trillion, or the pre-crisis level, in 2011. They are expected to rise further to $1.7 trillion in 2012 and reach $1.9 trillion in 2013...
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