To understand the longer term consequences of natural disasters for global value chains, this paper examines trade in the automobile and electronic sectors after the 2011 earthquake in Japan. Contrary to widespread expectations, the analysis shows that the shock did not lead to reshoring,...

Preferential trade agreements today are more numerous and deeper than they were a quarter century ago. Do deep agreements promote countries' integration into global value chains? What are the economic mechanisms? How do countries choose their trade agreement partners? Would the undoing of deep...

Preferential trade agreements today are more numerous and deeper than they were a quarter century ago. Do deep agreements promote countries' integration into global value chains? What are the economic mechanisms? How do countries choose their trade agreement partners? Would the undoing of deep...

Preferential trade agreements have become deeper over time, often encompassing policy areas that go beyond traditional trade policy, such as investment, competition, and intellectual property rights protection. In the literature, a prominent argument why countries sign "deep" agreements is to...

In the first two months of 2021, the production of COVID-19 vaccines has suffered setbacks delaying the implementation of national inoculation strategies. These delays have revealed the concentration of vaccine manufacture in a small club of producer nations, which in turn has implications for...

This paper analyzes how the exchange rate elasticity of exports has changed over time and across countries and sectors, and how the formation of global value chains has affected this relationship. The analysis uses a panel framework covering 46 countries over the period 1996-2012, and first...