Die globale Konjunktur bricht als Folge der Coronavirus-Pandemie ein. Um die Ausbreitung der Neuinfektionen einzudämmen und einer Überlastung des Gesundheitswesens entgegenzuwirken, kommt es mittlerweile in vielen Ländern zu Einschränkungen der Bewegungsfreiheit und einem weitgehenden...

The COVID-19 virus has spread to 215 countries, virtually covering all areas of the world, and has plunged the world in a health emergency. The virus and the infection control measures by governments have an enormous, worldwide economic impact: when countries are connected by trade in goods,...

As the economy and our daily life return to a "new-normal" in the midst of Covid-19, the possibility of a second wave leaves lots of uncertainty about future developments. To understand indications about the impact of the pandemic on economic performance in different countries across the world,...

Die Corona-Pandemie hat die Weltwirtschaft im ersten Halbjahr 2020 in eine tiefe Rezession gestürzt. Mit der schrittweisen Lockerung der Shutdown-Maßnahmen setzte spätestens im Sommer überall die Erholung ein. In Deutschland wird die Wirtschaftsleistung im Jahresdurchschnitt voraussichtlich...

Die deutsche Wirtschaft erholte sich im dritten Quartal überraschend schnell vom Shutdown im Frühjahr. Im Herbst nahm jedoch das Infektionsgeschehen wieder spürbar an Fahrt auf, so dass im November erneut ein Shutdown verhängt wurde. Allerdings dürften die unmittelbaren wirtschaftlichen...

This study assesses the simultaneous openness hypothesis that trade modulates foreign direct investment (FDI) to induce positive net effects on total factor productivity (TFP) dynamics. Twenty-five countries in Sub-Saharan Africa and data for the period 1980 to 2014 are used. The empirical...

In this paper, we develop a multi-country open economy extension of the famous Big Push model for a closed economy by Murphy et al. (1989). We show under which conditions the global economy in our model is caught in a poverty trap, characterised by a low-income equilibrium from which an escape...

Rules-based trade is under attack and the WTO is at risk of marginalization. The COVID-19 pan-demic and its detrimental effects on public health, global supply- and value chains and industrial production, have brought back national export restrictions and stopped the free flow of goods and...

Shifting geopolitical sands: competition, cooperation or conflict? The 50th anniversary of the World Economic Forum coincides with a period of profound global change. These events prompted the Forum to draw on its network of diverse experts - heads of leading global think tanks and research...

This article is the first that quantifies the impact of single windows (SWs) on international trade globally. SWs function as a single point of entry and exit of the goods traded internationally and are therefore intended to facilitate trade. Using a structural gravity model for a panel of 176...

Entrepôts are hubs that facilitate trade between various origins and destinations. We study the role these hubs, and the networks they form, play in international trade. Using novel data, we trace the paths of containerized goods entering the United States. We show that the majority of trade is...

It seems that the "globalization" has failed. Instead, a rising number of people in the Western world prefer old nationalist and protectionist policies. One reason may be the challenge by structural change. Main goal of this paper is to find out if any structural change and any spread of income...

In order to ensure transparency and to keep abreast of trade policies in support of sustainability, the WTO Committee on Trade and Environment (CTE) mandated the WTO Secretariat to compile and collate all environment-related measures notified to WTO. The database also includes...

In light of the unprecedented mutation of the COVID-19 pandemic into a global economic recession, the WTO projects world trade volume to plummet by a staggering 13 percent to 32 percent in 2020. This translates to large-scale losses in global output and employment, especially in trade-oriented...

We examine if international trade improves labor market integration of immigrants in Sweden. Immigrants participate substantially less than natives in the labor market. However, trading with a foreign country is expected to increase the demand for immigrants from that country. By hiring...

This paper studies the relationship between Asia’s economic engagements in Africa and individual African nations’ participation in global value chains (GVC) over the past two decades. We find that while overall exports from Africa to Asia are still highly concentrated in resource-intensive...

The COVID-19 virus has spread to 215 countries, virtually covering all areas of the world, and has plunged the world in a health emergency. The virus and the infection control measures by governments have an enormous, worldwide economic impact: when countries are connected by trade in goods,...

The growth of Foreign Direct Investment (FDI) in developing countries over the last decade has attracted an intense academic and policy-oriented interest for its determinants. Despite the gravity model being considered a useful tool to approximate bilateral FDI flows, the literature has seen a...

We use the World Input-Output Database and build on Wang et al. (2013) gross exports decomposition to analyze the bilateral trade relation between Mexico and the United States from a value added perspective. Once we take into account that gross commercial flows are clouded by failing to account...

We evaluate the effect of exchange rate misalignments on the balance of trade and the role that global value chain participation plays in this effect for 11 new European Union member states. Using heterogeneous panel cointegration methods, we first estimate the real equilibrium exchange rate and...

This paper studies the role of the exchange rate regime for trade of new products. It first provides VAR evidence that a rise in external productivity shifts trade away from new products and more so in fixed regimes. Then, it presents a model with firm dynamics in line with this evidence. We...

As China's opening-up grows wider under the Belt and Road Initiative, the exploration and construction of free trade ports have received increasing attention. In 2018, China's first free trade port was settled in Hainan instead of Shanghai. In 2019, after the Lingang New Area of China (Shanghai)...

There are debates regarding the effect of globalization on national economies, and whether or not trade openness has a significant positive or negative influence on economic expansion and development. Thus, this study is aimed at investigating the relationship between trade globalization and...

We present a unified dynamic framework to study the interconnections between international trade and business cycle models. We prove an aggregate equivalence between a competitive, representative firm model that has aggregate production externalities and dynamic trade models that feature...