Hummels, David; Ishii, Jun; Yi, Kei-Mu - Federal Reserve Bank of New York - 1999
Dramatic changes are occurring in the nature of international trade. Production processes increasingly involve a … market countries we estimate that vertical specialization accounts for up to 30 percent of world exports, and has grown as … with the fact that trade barriers (tariffs and transportation costs) are incurred repeatedly as goods-in-process cross …