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After several decades of increasing global economic integration, the world is facing the risk of policy-driven geoeconomic fragmentation (GEF). This n...
This paper analyzes how the formation of Global Value Chains (GVCs) has affected the exchange rate elasticity of exports. Using a panel framework cove...
Cyclical or Structural?
This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on a...
Opportunities and Risks of Transport Corridors
China proposed the Belt and Road Initiative in 2013 to improve connectivity and cooperation on a transcontinental scale. This study, by a team of Worl...
This paper focuses on the coordination problem among borrowing countries imposing controls on capital infl ows. In a simple model of capital flows and...
As governments resort to industrial policies to achieve economic and non-economic objectives, the number of subsidies implemented each year has more t...
This paper studies the relationship between trade policy and food prices. We show that, when individuals are loss averse, governments may use trade po...
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