This paper analyzes whether Chinese aid and other forms of official finance affect structural transformation in low- and-middle income countries. Specifically, we employ an instrumental variables (IV) approach to causally analyze the effect on the Economic Complexity Index of 98 recipient...

We review the literature on geoeconomics, defined as the field of study that links economics and geopolitics (power rivalry). We describe what geoeconomics is and which questions it addresses, focusing on five main subfields. First, the use of geoeconomic policy tools such as sanctions and...

We examine firm-level upgrading in Colombian manufacturing firms as a result of a high-skilled labor supply shock triggered by the Venezuelan exodus. Using a unique and confidential dataset from 2013 to 2019 and a shift-share instrumental variables approach, we find that the increased supply of...

Research about trade liberalization's impact on markups has focused on manufacturing due to data availability considerations. How do these effects vary across sectors? Which industries become more and less competitive as trade barriers are eliminated? We leverage firm-level tax records from the...

This note discusses recent developments in economic relations between Russia and China. China has become an essential economic partner for Russia since the invasion of Ukraine. Cut off from most Western economies, Russia today is heavily dependent on trade with China and actively pursues greater...

Using detailed global trade and novel Multi-Region Input–Output data, this paper examines the East African Community’s (EAC) global and regional integration through trade, global, and regional value chains (GVCs and RVCs). With surgical attention to detail, the first part of the paper...

The Draghi Report recommended actions to secure the long-term EU competitive position but did not discuss the challenges related to specific countries or regional groups, including those of Central and Eastern European (CEE) countries. While CEE economies remain focused on manufacturing,...

This study applies the Quadratic Almost Ideal Demand System (QUAIDS) to the Asian Development Bank's Multi-Region Input-Output (MRIO) dataset to estimate global demand and supply elasticities across intermediate vs. final, and domestic vs. foreign sectors. Using pooled data from 2021-2023,...

The introduction of the EU Carbon Border Adjustment Mechanism (CBAM) has triggered statistically significant negative stock market responses for firms within the EU. Comparing EU customers that have non-EU suppliers in CBAM-affected industries with their non- treated peers in the control group,...

On April 2, 2025, President Trump declared "Liberation Day", announcing broad tariffs to reduce trade deficits and revive U.S. industry. We analyze the long-term economic impacts of these tariffs through the lens of a trade model that features flexible tariff passthrough and endogenous trade...

Global powers increasingly use trade as a tool of geopolitical influence. But can trade also foster soft power? We provide novel evidence on this relationship by combining geo-referenced survey data from 22 African countries sourced from the Gallup World Poll with Chinese import data. Exploiting...

Taking German Cameroon as an example, this article uses the concept of the colonial intermediary to analyze Africans' role in colonial capitalism. While researchers have shown that the colonial state depended on Africans, the importance of African intermediaries in European trade has hardly been...

By providing a working definition of an expatriate colonial business, this article examines the role of the Woermann group's integration into and support of colonialism through trade, plantations, and logistics. Focusing on its activities in Cameroon and the pivotal role of the Woermann Linie...

In recent years, German colonialism has received growing public attention - a history long overshadowed by the World Wars. Due to its short-lived character, a long-term comparative view of German colonialism has not featured prominently in most accounts of European imperialism. This chapter...

How can a currency achieve more widespread international use? We study the internationalization of the Chinese renminbi (RMB) through the lens of a unique policy experiment in Argentina. In 2023, amid a severe dollar shortage, Argentina expanded a currency swap line with the People's Bank of...

After some 20 years, the negotiations on the EU Mercosur Association Agreement (EUMAA) were concluded in June 2019. Due to strong opposition by EU Member States as well as from trade unions and civil society organizations, in particular with respect to the lack of enforceable environmental...

While international trade can offer gains from specialization and access to a wider range of products, it is also closely interlinked with global environmental problems, above all, anthropogenic climate change. This survey provides a structured overview of the economic literature on the...

This Policy Brief explores the potential impact of forming a customs union between the European Union (EU) and key global partners (e.g. Canada, the UK, Mexico and Japan) as a strategic response to U.S. President Donald Trump's threatened tariffs. Using the GSIM partial equilibrium model, the...

We propose new ways to measure populism, using the Manifesto Project Database (1960-2019) as main source of data. We characterize the evolution of populism over 60 years and show empirically that it is significantly impacted by the skill-content of globalization. Specifically, imports of goods...

We evaluate how access to international transport infrastructure promotes trade and economic development. Exploiting the gradual unfolding of transcontinental rail freight connections between China and Europe, our empirical findings indicate increasing exports from connected cities, with...

The Draghi Report recommended actions to secure the long-term EU competitive position but did not discuss the challenges related to specific countries or regional groups, including those of Central and Eastern European (CEE) countries. While CEE economies remain focused on manufacturing,...

This study applies the Quadratic Almost Ideal Demand System (QUAIDS) to the Asian Development Bank's Multi-Region Input-Output (MRIO) dataset to estimate global demand and supply elasticities across intermediate vs. final, and domestic vs. foreign sectors. Using pooled data from 2021-2023,...

Global powers increasingly use trade as a tool of geopolitical influence. But can trade also foster soft power? We provide novel evidence on this relationship by combining geo-referenced survey data from 22 African countries sourced from the Gallup World Poll with Chinese import data. Exploiting...

How can a currency achieve more widespread international use? We study the internationalization of the Chinese renminbi (RMB) through the lens of a unique policy experiment in Argentina. In 2023, amid a severe dollar shortage, Argentina expanded a currency swap line with the People's Bank of...

After some 20 years, the negotiations on the EU Mercosur Association Agreement (EUMAA) were concluded in June 2019. Due to strong opposition by EU Member States as well as from trade unions and civil society organizations, in particular with respect to the lack of enforceable environmental...

Based on the analysis of the current state of international markets, the article reveals the main problematic issues of creating an effective strategy for companies to enter them. The criteria and approaches to the segmentation of international markets are also disclosed. Priority directions for...

We propose new ways to measure populism, using the Manifesto Project Database (1960- 2019) as main source of data. We characterize the evolution of populism over 60 years and show empirically that it is significantly impacted by the skill-content of globalization. Specifically, imports of goods...

This Policy Brief explores the potential impact of forming a customs union between the European Union (EU) and key global partners (e.g. Canada, the UK, Mexico and Japan) as a strategic response to U.S. President Donald Trump's threatened tariffs. Using the GSIM partial equilibrium model, the...

"The global economy's interconnectedness and the potential for supply chain disruptions were highlighted recently during Russia's war of aggression against Ukraine and the COVID-19 pandemic. Similarly, a possible future conflict between China and Taiwan could lead to substantial disruptions in...

The introduction of the EU Carbon Border Adjustment Mechanism (CBAM) has triggered statistically significant negative stock market responses for firms within the EU. Comparing EU customers that have non-EU suppliers in CBAM-affected industries with their non- treated peers in the control group,...

In recent years, German colonialism has received growing public attention - a history long overshadowed by the World Wars. Due to its short-lived character, a long-term comparative view of German colonialism has not featured prominently in most accounts of European imperialism. This chapter...