A Portrait of Trade in Value Added Over Four Decades
In: NBER Working Paper No. w22974
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In: NBER Working Paper No. w22974
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Working paper
In: NBER Working Paper No. w21070
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In: IMF Working Paper No. 15/199
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In: American economic review, Band 102, Heft 3, S. 407-411
ISSN: 1944-7981
Cross-border production chains tend to include geographically proximate countries. This suggests that increases in fragmentation should be largest among nearby trading partners, and thus may serve to localize gross trade. Using data on gross and value added trade from 1970-2009, we present three results supporting this conjecture. First, value added to export ratios are lower and falling more rapidly within geographic regions than between them. Second, gross trade travels shorter distances from source to destination than value added trade, and this gap is growing over time. Third, bilateral value added to export ratios have fallen most among nearby trading partners.
In: Journal of international economics, Band 86, Heft 2, S. 224-236
ISSN: 0022-1996
In: NBER Working Paper No. w18186
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In: FEDS Working Paper No. 2023-75
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In: Oxford development studies, Band 51, Heft 4, S. 455-475
ISSN: 1469-9966
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In: American economic review, Band 101, Heft 3, S. 308-312
ISSN: 1944-7981
A common view is that cross-border vertical linkages played a key role in the 2008–2009 collapse of global trade. This paper presents two accounting results from a global input-output framework that shed light on this channel. We feed in observed changes in final demand and find that trade in final goods fell by twice as much as trade in intermediate goods. Nevertheless, intermediate goods account for more than two-fifths of the trade collapse. We also find that vertical specialization trade fell 13 percent, while value-added trade fell by 10 percent, because declines in demand were largest in highly vertically-specialized sectors.
In: IMF Working Papers, S. 1-45
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How do global supply chain linkages modify countries' incentives to impose import protection? Are these linkages empirically important determinants of trade policy? To address these questions, this paper introduces supply chain linkages into a workhorse terms-of-trade model of trade policy with political economy. Theory predicts that discretionary final goods tariffs will be decreasing in the domestic content of foreign-produced final goods. Provided foreign political interests are not too strong, final goods tariffs will also be decreasing in the foreign content of domestically-produced final goods. The paper tests these predictions using newly assembled data on bilateral applied tariffs, temporary trade barriers, and value-added contents for 14 major economies over the 1995-2009 period. There is strong support for the empirical predictions of the model. The results imply that global supply chains matter for trade policy, both in principle and in practice.
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