Download or read book Global Value Chains and the Exchange Rate Elasticity of Exports written by Swarnali Ahmed and published by International Monetary Fund. This book was released on 2015-11-30 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book World Development Report 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-19 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.

Download or read book Measuring and Analyzing the Impact of GVCs on Economic Development written by World Trade Organization and published by World Trade Organization. This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Global Value Chains in a Changing World written by Deborah Kay Elms and published by . This book was released on 2013 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Download or read book Global Value Chains in a Postcrisis World written by Olivier Cattaneo and published by World Bank Publications. This book was released on 2010 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book looks to address the following questions in a post-crisis world: How have lead firms responded to the crisis? Have they changed their traditional supply chain strategy and relocated and/or outsourced part of their production? How will those changes affect developing countries? What should be the policy responses to these changes?

Download or read book Global Value Chain Development Report 2021 written by Banque asiatique de développement and published by . This book was released on 2022-01-25 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A radical shift is underway in global value chains as they increasingly move beyond traditional manufacturing processes to services and other intangible assets. Digitization is a leading factor in this transformation, which is being accelerated by the coronavirus disease (COVID-19) pandemic. The Global Value Chain Development Report, the third of a biennial series, explores this shift beyond production. The report shows how the rise of services value chains offers a new path to development and how protectionism and geopolitical tensions, environmental risks, and pandemics are undermining the stability of global value chains and forcing their reorganization geographically. It is co-published by the WTO, the Asian Development Bank, the Research Institute for Global Value Chains at the University of International Business and Economics, the Institute of Developing Economies, and the China Development Research Foundation.

Download or read book Interconnected Economies Benefiting from Global Value Chains written by OECD and published by OECD Publishing. This book was released on 2013-05-28 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines how global value chains have evolved and the policy challenges they have created.

Download or read book Global Trade and the Dollar written by Ms.Emine Boz and published by International Monetary Fund. This book was released on 2017-11-13 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: We document that the U.S. dollar exchange rate drives global trade prices and volumes. Using a newly constructed data set of bilateral price and volume indices for more than 2,500 country pairs, we establish the following facts: 1) The dollar exchange rate quantitatively dominates the bilateral exchange rate in price pass-through and trade elasticity regressions. U.S. monetary policy induced dollar fluctuations have high pass-through into bilateral import prices. 2) Bilateral non-commodities terms of trade are essentially uncorrelated with bilateral exchange rates. 3) The strength of the U.S. dollar is a key predictor of rest-of-world aggregate trade volume and consumer/producer price inflation. A 1 percent U.S. dollar appreciation against all other currencies in the world predicts a 0.6–0.8 percent decline within a year in the volume of total trade between countries in the rest of the world, controlling for the global business cycle. 4) Using a novel Bayesian semiparametric hierarchical panel data model, we estimate that the importing country’s share of imports invoiced in dollars explains 15 percent of the variance of dollar pass-through/elasticity across country pairs. Our findings strongly support the dominant currency paradigm as opposed to the traditional Mundell-Fleming pricing paradigms.

Download or read book Geopolitics Supply Chains and International Relations in East Asia written by Etel Solingen and published by Cambridge University Press. This book was released on 2021-05-06 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: An accessible overview of political, economic, and strategic dimensions of global supply chains in a changing global political economy.

Download or read book Measuring Competitiveness in a World of Global Value Chains written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 2018-11-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: All common real effective exchange rate indexes assume trade is only in final goods, despite the growing presence of global supply chains. Extending effective exchange rate indexes to include such intermediate goods can imply radically different effective exchange rate weights, depending on the relative substitutability of goods in final demand and in production. Unfortunately, the effect of these shifts in weights are difficult to identify empirically because the two currencies most affected—the dollar and the renminbi—have moved closely together. As the renminbi becomes more flexible, however, it will be important to determine which assumptions are the most realistic.

Download or read book Global Value Chains written by Su Qingyi and published by Taylor & Francis. This book was released on 2024-01-31 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to help readers understand the status of the division of labour in global value chains, its impact on traditional research topics and to familiarise readers with the application of input-output methods in Global Value Chain (GVC) research. The book features a combination of practices in China and offers international comparisons. Chapters 1 to 4 discuss the measurement of global value chains, specifically the measurement of the location of production, the status of the division of labour and the risk of the GVC, as well as the GVC and the Domestic Value Chain (DVC). Chapters 5 to 8 focus on the applications of GVCs in the study of traditional topics such as the structure of international trade, the factor content of foreign trade, the real effective exchange rate and environmental pollution. This book will be a great read to students and scholars of statistics, economics, international trade and those interested in China’s economy in general.

Download or read book Changing Patterns of Global Trade written by Nagwa Riad and published by International Monetary Fund. This book was released on 2012-01-15 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Pakistan s Economy and Trade in the Age of Global Value Chains written by Asian Development Bank and published by Asian Development Bank. This book was released on 2022-02-01 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication examines the economy and trade of Pakistan in the context of global value chains (GVCs), or cross-border production networks. The report combines innovative analytical tools with the latest available data to explore Pakistan's involvement in GVCs. It produces indicators on factors including Pakistan's rate of GVC participation, the lengths of its GVC production, its patterns of specialization, and the price competitiveness of its exports. It draws on the Multiregional Input–Output database of the Asian Development Bank, the only time series of intercountry input–output tables to date that includes Pakistan and preliminary data for 2020.

Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Routledge. This book was released on 2005 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""

Download or read book Dollar Invoicing Global Value Chains and the Business Cycle Dynamics of International Trade written by Mr. David Cook and published by International Monetary Fund. This book was released on 2022-02-11 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent literature has highlighted that international trade is mostly priced in a few key vehicle currencies and is increasingly dominated by intermediate goods and global value chains (GVCs). Taking these features into account, this paper reexamines the relationship between monetary policy, exchange rates and international trade flows. Using a dynamic stochastic general equilibrium (DSGE) framework, it finds key differences between the response of final goods and GVC trade to both domestic and foreign shocks depending on the origin and ultimate destination of value added and the intermediate shipments involved. For example, the model shows that in response to a dollar appreciation triggered by a US interest rate increase, direct bilateral trade between non-US countries contracts more than global value chain oriented trade which feeds US final demand, and exports to the US decline much more when measured in gross as opposed to value added terms. We use granular data on GVCs at the sector level to document empirical evidence in favor of these key predictions of the model.

Download or read book Ensuring Quality to Gain Access to Global Markets written by Martin Kellermann and published by World Bank Publications. This book was released on 2019-04-09 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a modern world with rapidly growing international trade, countries compete less based on the availability of natural resources, geographical advantages, and lower labor costs and more on factors related to firms' ability to enter and compete in new markets. One such factor is the ability to demonstrate the quality and safety of goods and services expected by consumers and confirm compliance with international standards. To assure such compliance, a sound quality infrastructure (QI) ecosystem is essential. Jointly developed by the World Bank Group and the National Metrology Institute of Germany, this guide is designed to help development partners and governments analyze a country's quality infrastructure ecosystems and provide recommendations to design and implement reforms and enhance the capacity of their QI institutions.

Download or read book Uncovering Value Added In Trade New Approaches To Analyzing Global Value Chains written by Yuqing Xing and published by World Scientific. This book was released on 2015-07-13 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value chain trade has challenged economic implications of conventional trade statistics and transformed bilateral trade relationships into multilaterals. Conventional trade statistics exaggerate trade volumes and bilateral trade imbalances. It is imperative to measure trade in value-added and examine trade relations in the context of global value chains. This book is a collection of research papers on new approaches to measure trade in value added and the role of global value chains in modern international trade. It introduces the input output method for measuring trade and a direct approach for measuring the domestic value added of the People's Republic of China — the center of global assembly. In addition, it shows how to analyze trade relations in the context of global value chains.