The post world war II era has been characterized by unprecedented growth in the world economy and progressive reduction in barriers to international trade and investment. The objective of this study is to assess to what extent the observed growth and deepening international economic integration...

The post world war II era has been characterized by unprecedented growth in the world economy and progressive reduction in barriers to international trade and investment. The objective of this study is to assess to what extent the observed growth and deepening international economic integration...

Amidst the recovery from the impact of the COVID-19 pandemic, Russia’s war of aggression against Ukraine has resulted in new challenges to the global economy and to international trade. This report relies on detailed trade data to assess the impact of these two overlapping shocks on...

This paper builds on recent generalisations of theory and empirics of comparative advantage and establishes the relative importance of different sources of comparative advantage in explaining trade, with particular focus on policy and institutional factors. The broad policy and institutional...

The search for balanced, sustainable growth clearly involves the unwinding of large and persistent global imbalances. Much of the attention in the rebalancing debate has centred on how shifts in monetary and fiscal policies affect current account imbalances. This paper goes beyond macroeconomic...

This paper contributes new empirical evidence on the relationship between productivity and international trade. This is accomplished using an econometric approach that combines input-output and productivity data, which allows a more detailed tracking of the relationship between trade in...

With a growing integration via trade and investment, state-owned enterprises (SOEs) that have traditionally been oriented towards domestic markets increasingly compete with private firms in the global market place. Three principal questions emerge from the international trade perspective: (1)...

Although global value chains (GVCs) are often considered a defining feature of the current wave of globalisation, little is known about: i) what drives GVC participation; ii) what the benefits associated to growing participation are; or iii) how developing countries engage and benefit from GVCs....