The Global Trade Slowdown: A New Normal?

Author(s)/Editor(s) Edited by Bernard HOEKMAN
Publisher CEPR Press
Publication Date June 2015
Links eBook

Table of Contents

Part One: Introduction
Trade and growth - end of an era? (Bernard Hoekman)
1 World trade and production: A long-run view (Douglas A Irwin)

Part Two: Determinants of the slowdown
2 The global trade slowdown (Cristina Constantinescu, Aaditya Mattoo and Michele Ruta)
3 Recent slowdown in global trade: Cyclical or structural? (Emine Boz, Matthieu Bussière and Clément Marsilli)
4 Does the post-Crisis weakness of global trade solely reflect weak demand? (Patrice Ollivaud and Cyrille Schwellnus)
5 The power of the few in determining trade accelerations and slowdowns (Guillaume Gaulier, Gianluca Santoni, Daria Taglioni and Soledad Zignago)

Part Three: GVCs, gravity and peak trade
6 Global value chains and the trade-income relationship: Implications for the recent trade slowdown (Byron Gangnes, Alyson C Ma and Ari Van Assche)
7 World trade and income remain exposed to gravity (Hubert Escaith and Sébastien Miroudot)
8 A value-added trade perspective on recent patterns in world trade (Paul Veenendaal, Hugo Rojas-Romagosa, Arjan Lejour and Henk Kox)
9 On the gravity of world trade's slowdown (Matthieu Crozet, Charlotte Emlinger, Sébastien Jean)

Part Four: East Asian perspectives and the China factor
10 The relationship between trade and economic growth and a slowdown of exports in Korea (Taeho Bark)
11 Growth and structural change in trade: Evidence from Japan (Koji Ito and Ryuhei Wakasugi)
12 The global trade slowdown: Lessons from the East Asian electronics industry (Willem Thorbecke)
13 China's trade flows: Some conjectures (Menzie D Chinn)
14 Trade impact of China's transition to the 'new normal' (Jiansuo Pei, Cuihong Yang and Shunli Yao)

Part Five: Policy perspectives
15 Crisis-era trade distortions cut LDC export growth by 5.5% per annum (Simon J. Evenett and Johannes Fritz)
16 Trade growth prospects: An African perspective (Ottavia Pesce, Stephen Karingi and Isabelle Gebretensaye)
17 'Peak trade' in the steel sector (Simon J. Evenett and Johannes Fritz)
18 Supporting the micro-multinationals to help achieve peak trade (Usman Ahmed, Brian Bieron and Hanne Melin)
19 Bold political leadership and vision can unlock global trade growth (Amgad Shehata)

* Full Text in English.