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Economic Research Papers on Trade



De-Risking Impact Investing De-Risking Impact Investing
Neil Gregory, World Economics, June 2016
Despite great investor interest in impact investing, actual investment flows have remained modest. This is largely due to insufficient investment opportunities which offer a financially sustainable risk-return balance. A focus on de-risking impact investments can enable ... More


Can Intra-Regional Trade Act as a Global Shock Absorber in Africa? Can Intra-Regional Trade Act as a Global Shock Absorber in Africa?
Zuzana Brixiova, Qingwei Meng & Mthuli Ncube, World Economics, September 2015
The global financial crisis and the subsequent uneven recovery have underscored the need for Africa’s resilience to output and other shocks originated in the rest of the world. A comparison of two regional economic communities – the East African Community (EAC) and the ... More


The Link Between Money and Nominal Spending The Link Between Money and Nominal Spending: A Look at Historical UK Data Through the Lens of Quantity Theory
Ryland Thomas, World Economics, June 2014
The recent financial crisis has reignited interest in the role of money and credit in driving economic activity. This article takes a broad overview of the historical data available for assessing the link between money, credit and activity, using the quantity theory of ... More


Flowing Together or Flowing Apart Flowing Together or Flowing Apart: The relation between FDI and ODA flows to Argentina and Brazil
José María Larrú Ramos & Martha Carro Fernández, World Economics, March 2014
At a time when international institutions and governments rethink the structure of development financing, the analysis of the relationship between different capital flows becomes significant. Given the relevance assigned by international institutions to the potential co ... More


Why India is Vulnerable to Portfolio Investment Movements Why India is Vulnerable to Portfolio Investment Movements: Analysis of capital flows between India and the United States
Mandira Sarma, World Economics, December 2013
This paper analyses the trend of capital flows between India and the US during 2000–2012. The US is a major source of foreign capital in India, through both direct and portfolio investment. During this period, portfolio investment from the US to India dominated over dir ... More


The Value of Value Added The Value of Value Added: Measuring global engagement with gross and value-added trade
William Powers, World Economics, December 2012
As production has become more globally integrated, imported components account for a rising share of the value of exports. Many countries may contribute inputs to a good, and the final assembler may capture only a small share of the product’s value. Official trade stati ... More


Global Value Chains, International Trade Statistics and Policymaking in a Flattening World Global Value Chains, International Trade Statistics and Policymaking in a Flattening World
Alejandro Jara & Hubert Escaith, World Economics, December 2012
The raise of global production networks since the 1980s changed the way we understand international trade and has profound repercussions on development policies and the conduct of global governance. New comparative advantages allow large developing countries to leap-fro ... More


Global Financial Crisis, Protectionism and Current Account Deficit Global Financial Crisis, Protectionism and Current Account Deficit: South Africa on the brink?
Peter Draper, Andreas Freytag & Sebastian Voll, World Economics, June 2011
The recent financial and economic crisis, and the resurgence in the popularity of emerging markets has raised fears in these economies of a resumption in capital flight or a sudden stop of capital inflows. The latter, in particular, is intensively discussed in South Afr ... More


Sub-Saharan Africa Sub-Saharan Africa: Outlook and challenges
Veronica Kalema, World Economics, June 2011
Sub Saharan Africa’s (SSA’s) growth bounced back to 5% in 2010 following a slowdown to 2.8% in 2009 because of the GFC. Moreover, SSA’s 5-plus growth rate is sustainable. Improvements in domestic fundamentals due to better economic management and improved political stab ... More


The European Union’s Trade Policies and Africa’s Exports The European Union’s Trade Policies and Africa’s Exports
Olayinka Idowu Kareem, World Economics, June 2011
An important determinant of the sustainability of growth in Africa is the extent to which the continent can exploit the opportunities available from trade. Trade barriers exist to key African exports, which make it difficult for the continent to take advantage of the gr ... More


Trade Out of Poverty Trade Out of Poverty
Peter Lilley, Clare Short, Sir Menzies Campbell & Michael Hastings, World Economics, June 2011
Integration into the world economy has proven a powerful means for countries to promote economic growth, development, and poverty reduction, and therefore governments need to have a renewed focus on trade policy towards developing countries to help improve the lives of ... More


Towards New Thinking in Economics Towards New Thinking in Economics: Terry Barker on structural macroeconomics, climate change mitigation, the relevance of empirical evidence and the need for a revised economics discipline
Şerban Scrieciu, World Economics, March 2011
Terry Barker is a leading British economist in macroeconomics, climate economics and empirical analysis. For over 45 years, he has been involved in research at Cambridge on economic theory and applied economics, in areas such as: trade theory and space and time economic ... More


Communist China’s Capitalism Communist China’s Capitalism: The highest stage of capitalist imperialism
Kenneth Austin, World Economics, March 2011
This article explains the contemporary Chinese–American economic relationship as an ironic variant of the classical theory of capitalist imperialism. Communist China is the modern world’s great imperial power (exporter of surplus savings). China exports its savings by u ... More


Trade and Growth in the Post-Crisis World Trade and Growth in the Post-Crisis World
Ronald U. Mendoza, World Economics, December 2010
Countries that have most successfully used trade as part of a high growth strategy tend to exhibit a distinct trading pattern that maximises learning. The evidence points to three main strategies: first, trading itself matters, as firms learn from a larger market; secon ... More


The Collapse of Global Trade The Collapse of Global Trade: What a tangled web we weave
Ann Spehar, World Economics, September 2010
A unique feature of the financial crisis is the unprecedented collapse in global world trade. The objective of this paper is to explain some of that collapse as a move towards protectionism triggered not by nationalistic interests but by ‘competing’ objectives among tra ... More


The Temptation for Protectionism and American Trade Policy The Temptation for Protectionism and American Trade Policy
Robert Carbaugh & Tyler Prante, World Economics, September 2010
The Great Recession of 2007–2009 originated in the United States and quickly spread throughout the economies of Canada and Europe. Soon these countries imported fewer goods produced by emerging countries and the crisis became global. International trade collapsed at a p ... More


Vietnam: From Transitional State to Asian Tiger? Vietnam: From Transitional State to Asian Tiger?: Issues of the Vietnamese economic transformation experience
F. Gerard Adams & Anh Le Tran, World Economics, June 2010
Putting aside the legacy of its unique history, Vietnam has achieved an excellent growth record. But it is still far behind the leading East Asian economies. We consider the Vietnamese growth strategy in light of the controversies about ‘accumulation vs assimilation’ an ... More


Weapons Exports Weapons Exports: The bogus moral dilemma
Samuel Brittan, World Economics, June 2003
The commonly held view that an ethical approach to arms sales is desirable but ‘unaffordable’ because jobs and exports are at stake is challenged by Samuel Brittan. He argues that it arises from a failure to understand the circular flow of income, the fallacy of a ‘l ... More


Can Africa Catch Up? Can Africa Catch Up?
Arne Bigsten, World Economics, June 2002
The trend towards globalization of the last few decades has been manifested in the sustained growth of world trade and flows of investment and technology. For most regions this growing integration has led to rapidly growing per capita incomes, while Africa has stagna ... More


The Black Economy - Benefit frauds or tax evaders? The Black Economy - Benefit frauds or tax evaders?
Jim Thomas, World Economics, March 2000
One answer to the question "How Rich are We?" is to compare levels of National Income either across countries or for a single country over time. However, the relevance of this approach depends on how accurately National Income measures the output of goods and services ... More