Global Value Chains And The Exchange Rate Elasticity Of Exports
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Global Value Chains And The Exchange Rate Elasticity Of Exports
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Author : Mrs.Swarnali Ahmed Hannan
language : en
Publisher: International Monetary Fund
Release Date : 2015-11-30
Global Value Chains And The Exchange Rate Elasticity Of Exports written by Mrs.Swarnali Ahmed Hannan and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-30 with Business & Economics categories.
This paper analyzes how the formation of Global Value Chains (GVCs) has affected the exchange rate elasticity of exports. Using a panel framework covering 46 countries over the period 1996-2012, we first find some suggestive evidence that the elasticity of real manufacturing exports to the Real Effective Exchange Rate (REER) has decreased over time. We then examine whether the formation of supply chains has affected this elasticity using different measures of GVC integration. Intuitively, as countries are more integrated in global production processes, a currency depreciation only improves competitiveness of a fraction of the value of final good exports. In line with this intuition, we find evidence that GVC participation reduces the REER elasticity of manufacturing exports by 22 percent, on average.
Global Value Chains And The Exchange Rate Elasticity Of Exports
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Author : Swarnali Ahmed
language : en
Publisher: International Monetary Fund
Release Date : 2015-11-30
Global Value Chains And The Exchange Rate Elasticity Of Exports written by Swarnali Ahmed and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-30 with Business & Economics categories.
This paper analyzes how the formation of Global Value Chains (GVCs) has affected the exchange rate elasticity of exports. Using a panel framework covering 46 countries over the period 1996-2012, we first find some suggestive evidence that the elasticity of real manufacturing exports to the Real Effective Exchange Rate (REER) has decreased over time. We then examine whether the formation of supply chains has affected this elasticity using different measures of GVC integration. Intuitively, as countries are more integrated in global production processes, a currency depreciation only improves competitiveness of a fraction of the value of final good exports. In line with this intuition, we find evidence that GVC participation reduces the REER elasticity of manufacturing exports by 22 percent, on average.
Global Value Chains In A Changing World
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Author : Deborah Kay Elms
language : en
Publisher:
Release Date : 2013
Global Value Chains In A Changing World written by Deborah Kay Elms and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
A collection of papers by some of the world's leading specialists on global value chains (GVCs). It examines how GVCs have evolved and the challenges they face in a rapidly changing world. The approach is multi-disciplinary, with contributions from economists, political scientists, supply chain management specialists, practitioners and policy-makers. Co-published with the Fung Global Institute and the Temasek
Depreciations Without Exports Global Value Chains And The Exchange Rate Elasticity Of Exports
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Author : Swarnali Ahmed Hannan
language : en
Publisher:
Release Date : 2017
Depreciations Without Exports Global Value Chains And The Exchange Rate Elasticity Of Exports written by Swarnali Ahmed Hannan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
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 finds evidence that the elasticity of manufacturing export volumes to the real effective exchange rate has decreased over time. The paper then examines whether the formation of supply chains has affected this elasticity using different measures of global value chain integration. Intuitively, as countries are more integrated in global production processes, a currency depreciation only improves the competitiveness of a fraction of the value of final goods exports. In line with this intuition, the analysis finds evidence that the rise of participation in global value chains explains on average 40 percent of the fall in the elasticity, and that corrections of the real effective exchange rate for participation in global value chains do not present the same decreasing pattern in elasticity.
Global Value Chains And External Adjustment Do Exchange Rates Still Matter
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Author : Gustavo Adler
language : en
Publisher: International Monetary Fund
Release Date : 2019-12-27
Global Value Chains And External Adjustment Do Exchange Rates Still Matter written by Gustavo Adler and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-27 with Business & Economics categories.
The paper explores how international integration through global value chains shapes the working of exchange rates to induce external adjustment both in the short and medium run. The analysis indicates that greater integration into international value chains reduces the exchange rate elasticity of gross trade volumes. This result holds both in the short and medium term, pointing to the rigidity of value chains. At the same time, greater value chain integration is associated with larger gross trade flows, relative to GDP, which tends to amplify the effect of exchange rate movements. Overall, combining these two results suggests that, for most countries, integration into global value chains does not materially alter the working of exchange rates and the benefits of exchange rate flexibility in facilitating external adjustment remain.
Changing Patterns Of Global Trade
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Author : Nagwa Riad
language : en
Publisher: International Monetary Fund
Release Date : 2012-01-09
Changing Patterns Of Global Trade written by Nagwa Riad and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-09 with Business & Economics categories.
Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.
Singapore S Export Elasticities
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Author : Ms.Elif Arbatli
language : en
Publisher: International Monetary Fund
Release Date : 2016-03-07
Singapore S Export Elasticities written by Ms.Elif Arbatli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-07 with Business & Economics categories.
Singapore is one of the world’s most open economies, with the size of its trade reaching about 350 percent of its GDP. With the rise of highly diversified cross-border production networks, Singapore has come to play an integral role in the global supply chain with heavy reliance on foreign contents in its exports and production. It has also successfully moved up the value chain, exporting goods with high sophistication and economic complexity. Against this backdrop, in this paper, using disaggregate industry/product level trade data, we revisit Singapore’s export elasticities and find that growing participation in global production chains and rising export complexity are important determinants.
Measuring And Analyzing The Impact Of Gvcs On Economic Development
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Author : World Trade Organization
language : en
Publisher: World Trade Organization
Release Date : 2017
Measuring And Analyzing The Impact Of Gvcs On Economic Development written by World Trade Organization and has been published by World Trade Organization this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Political Science categories.
This report is about a huge contribution to our deepening understanding of what the global economy really means and how it is changing. The report helpfully distinguishes elements of an economy that are tradable and the large set that are non-tradable. Clearly the tradables set is expanding with the support of enabling technology. The report argues that connectivity in the networks that define the evolving architecture of GVCs is important. This Global Value Chain Development Report is the result of intensive and detailed work in assembling and analyzing data on the structure of economies and on how they are linked. It creates a much clearer picture of evolving patterns of independence. It also presents a much clearer picture of comparative advantage. --Publisher description.
Handbook On Global Value Chains
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Author : Stefano Ponte
language : en
Publisher: Edward Elgar Publishing
Release Date : 2019
Handbook On Global Value Chains written by Stefano Ponte and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Business & Economics categories.
Global value chains (GVCs) are a key feature of the global economy in the 21st century. They show how international investment and trade create cross-border production networks that link countries, firms and workers around the globe. This Handbook describes how GVCs arise and vary across industries and countries, and how they have evolved over time in response to economic and political forces. With chapters written by leading interdisciplinary scholars, the Handbook unpacks the key concepts of GVC governance and upgrading, and explores policy implications for advanced and developing economies alike. p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 10.0px Arial}
Depreciations Without Exports
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Author : Swarnali Ahmed
language : en
Publisher:
Release Date : 2015
Depreciations Without Exports written by Swarnali Ahmed and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Devaluation of currency categories.
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 finds evidence that the elasticity of manufacturing export volumes to the real effective exchange rate has decreased over time. The paper then examines whether the formation of supply chains has affected this elasticity using different measures of global value chain integration. Intuitively, as countries are more integrated in global production processes, a currency depreciation only improves the competitiveness of a fraction of the value of final goods exports. In line with this intuition, the analysis finds evidence that the rise of participation in global value chains explains on average 40 percent of the fall in the elasticity, and that corrections of the real effective exchange rate for participation in global value chains do not present the same decreasing pattern in elasticity.