Trade Diversion Effects From Global Tensions Higher Than We Think
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Trade Diversion Effects From Global Tensions Higher Than We Think
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Author : Mengqi Wang
language : en
Publisher: International Monetary Fund
Release Date : 2023-11-10
Trade Diversion Effects From Global Tensions Higher Than We Think written by Mengqi Wang 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 2023-11-10 with Business & Economics categories.
The paper builds a unique industry-level dataset by combining Mexico’s nationally sourced inputoutput data (INEGI) with cross-country sources (WIOD, UN Comtrade). Using this dataset to exploit higher supply linkages across a larger number of industries than what is available in cross-country sources, the paper estimates the trade diversion effect on Mexico’s exports to the U.S. from two episodes, with a focus on the first: the U.S.-China trade tension in 2018 and the U.S. sanctions on Russia in 2014. Difference-in-differences, local projections and few other empirical methodologies are used. For the first episode, the paper finds higher trade diversion effects than estimates in literature. Output tariff plays an important role, and there is some evidence of a positive impact through downstream tariffs. The effects are stronger when nationally sourced input-output data is used compared to those derived from cross-country sources. Importantly, the magnitude of trade diversion across industries does not depend on Mexico’s industry-level trade exposure to the U.S., but rather on the U.S. tariff changes on Chinese goods, the decrease in imports from China, product substitutability with Chinese products, and (weakly) on Mexico’s GVC integration. Similarly, for the second episode, the paper finds positive trade diversion effects. Overall, the findings suggest that trade diversion effect might be higher than previously thought and the proper accounting of dataset and supply linkages makes a difference.
The Dynamics Of Trade Integration And Fragmentation In Lac
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Author : Rafael Machado Parente
language : en
Publisher: International Monetary Fund
Release Date : 2024-12-13
The Dynamics Of Trade Integration And Fragmentation In Lac written by Rafael Machado Parente 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 2024-12-13 with categories.
Trade barriers and poor infrastructure play an important role in limiting trade integration in Latin America and the Caribbean (LAC). Closing half of the infrastructure gap between LAC and advanced economies could lift exports by 30 percent. Reducing import tariffs could boost LAC’s trade, but its responsiveness is lower than in other EMDEs, particularly in the long run, due to the region’s specialization in agricultural exports with inelastic demand and supply constraints like growing cycles and weather conditions. Amid deepening global trade tensions, LAC is well placed to withstand a mild trade fragmentation scenario, in which trade barriers are erected only among large economies. However, the region’s output losses could be sizable in more extreme scenarios, where the global economy splinters into competing economic blocs and LAC loses access to important markets. Boosting trade, including regional trade, could pay a double dividend of lifting growth in the region while mitigating risks from global fragmentation.
Mexico
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-11
Mexico written by International Monetary Fund. Western Hemisphere Dept. 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 2024-11 with categories.
Economic activity is decelerating, and inflation pressures are receding. The fiscal deficit is expected to register a substantial increase in 2024. Mexico maintains sizable buffers, a strong external position, and effective financial oversight. A range of supply-side reforms will be needed to catalyze lasting higher growth.
World Economic Outlook April 2024
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2024-04-16
World Economic Outlook April 2024 written by International Monetary 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 2024-04-16 with Business & Economics categories.
The latest World Economic Outlook reports economic activity was surprisingly resilient through the global disinflation of 2022–23, despite significant central bank interest rate hikes to restore price stability. Risks to the global outlook are now broadly balanced compared with last year. Monetary policy should ensure that inflation touches down smoothly, while a renewed focus on fiscal consolidation is needed to rebuild room for budgetary maneuver and to ensure debt sustainability. Structural reforms are crucial to revive medium-term growth prospects amid constrained policy space.
Limits To Regional Integration
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Author : Søren Dosenrode
language : en
Publisher: Routledge
Release Date : 2016-03-09
Limits To Regional Integration written by Søren Dosenrode and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-09 with Political Science categories.
Regionalization in general and regional integration in particular have taken place at a growing pace since the end of the Cold War, when states were set free from various security overlays. Regional integration is ’logical’ as it is supposed to advance wealth and peace. Still, the picture is far from clear and the process of regional integration is not automatic; disintegration takes place, as we saw in the cases of the Soviet Union, Yugoslavia and Czechoslovakia to mention a few. This is the case not only in states recently brought together but also in traditional states like Britain, The Netherlands and Spain where strong groups strive for independence. In some places regionalization is flourishing, but regional integration is not. Some regional integration projects like the North American Free Trade Agreement and Mercosur seem to stagnate. Certainly there are limits to regional integration. This comprehensive volume, written by high profiled academics, covers these themes by examining eleven cases ranging from the lack of integration in the Arctic and the Middle East, to ongoing or progressing integration in Europe to uncover what ’blocks’ regional integration, the results of which are used for developing new theoretical insights.
Limits To Regional Integration
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Author : Professor Søren Dosenrode
language : en
Publisher: Ashgate Publishing, Ltd.
Release Date : 2015-03-28
Limits To Regional Integration written by Professor Søren Dosenrode and has been published by Ashgate Publishing, Ltd. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-28 with Political Science categories.
This comprehensive volume, written by high profiled academics, covers themes within regional integration by examining eleven cases ranging from the lack of integration in the Arctic and the Middle East, to ongoing or progressing integration in Europe in an effort to uncover what ‘blocks’ regional integration. The results of this discussion are used for developing new theoretical insights.
Termites In The Trading System
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Author : Jagdish Bhagwati
language : en
Publisher: Oxford University Press
Release Date : 2008-07-14
Termites In The Trading System written by Jagdish Bhagwati and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-07-14 with Business & Economics categories.
Jagdish Bhagwati, the internationally renowned economist who uniquely combines a reputation as the leading scholar of international trade with a substantial presence in public policy on the important issues of the day, shines here a critical light on Preferential Trade Agreements, revealing how the rapid spread of PTAs endangers the world trading system. Numbering by now well over 300, and rapidly increasing, these preferential trade agreements, many taking the form of Free Trade Agreements, have re-created the unhappy situation of the 1930s, when world trade was undermined by discriminatory practices. Whereas this was the result of protectionism in those days, ironically it is a result of misdirected pursuit of free trade via PTAs today. The world trading system is at risk again, the author argues, and the danger is palpable. Writing with his customary wit, panache and elegance, Bhagwati documents the growth of these PTAs, the reasons for their proliferation, and their deplorable consequences which include the near-destruction of the non-discrimination which was at the heart of the postwar trade architecture and its replacement by what he has called the spaghetti bowl of a maze of preferences. Bhagwati also documents how PTAs have undermined the prospects for multilateral freeing of trade, serving as stumbling blocks, instead of building blocks, for the objective of reaching multilateral free trade. In short, Bhagwati cogently demonstrates why PTAs are Termites in the Trading System.
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
Mega Regional Trade Agreements
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Author : Thilo Rensmann
language : en
Publisher: Springer
Release Date : 2017-07-20
Mega Regional Trade Agreements written by Thilo Rensmann and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-20 with Law categories.
This book provides an in-depth analysis of "Mega-Regionals", the new generation of trans-regional free-trade agreements (FTAs) currently under negotiation, and their effect on the future of international economic law. The main focus centres on the EU-US Transatlantic Trade and Investment Partnership (TTIP), the Trans-Pacific Partnership (TPP) and the EU-Canada Comprehensive Economic and Trade Agreement (CETA), but the findings are also applicable to similar agreements under negotiation, such as the Regional Comprehensive Economic Partnership (RCEP).The specific features of Mega-Regional Trade Agreements raise a number of issues with respect to their potential effect on the current system of international trade and investment law. These include the consequences of Mega-Regionals for the most-favoured-nation (MFN) principle, their relation to the multilateral system of the World Trade Organization (WTO), their democratic legitimacy and their interaction with existing bilateral investment treaties (BITs).The book is intended for academics and practitioners working in the field of international economic law.
Bulletin Of The Atomic Scientists
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Author :
language : en
Publisher:
Release Date : 1969-02
Bulletin Of The Atomic Scientists written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1969-02 with categories.
The Bulletin of the Atomic Scientists is the premier public resource on scientific and technological developments that impact global security. Founded by Manhattan Project Scientists, the Bulletin's iconic "Doomsday Clock" stimulates solutions for a safer world.