In this paper we empirically examine the extent and properties of production sharing in Latin and North America as well as that in East Asia. In 2006, exports of parts and components from Latin and North America constituted 29.7% of the region’s exports of manufactured goods to the world. Both...

The rapid rise of trade in part of components –in the context of an increasingly important global production chain – is a key future of Asia's economic miracle. This paper aims at analyzing empirically what are key determinants of trade in parts and components. The focus is Latin America and...

This paper sets out a political economy model of strategic exchange rates, focusing in the importance of external lobbying. Applying it for the recent history of the Japanese yen, we show that pressure from the U.S. trade negotiators contributed to an appreciation of the Japanese yen, as well as...