Deconstructing deglobalization: the future of trade is in intermediate services

Richard Baldwin, Rebecca Freeman and Angelos Theodorakopoulos

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This article contests the idea that the world has entered a post-globalization era. It argues that rapid globalization has evolved rather than ended. Even though the global goods trade-to-GDP ratio reached its zenith 15 years ago, the rapid rise of services trade has persisted and now accounts for one-fifth of international commerce. The paper makes a statistical and logical case that the future of trade lies in services trade—especially trade in intermediate services.

Keywords: deglobalization; intermediate services; intermediate trade; service-led development; services trade (search for similar items in EconPapers)
JEL-codes: F10 F13 F15 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2024-01-01
New Economics Papers: this item is included in nep-int and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Published in Asian Economic Policy Review, 1, January, 2024, 19(1), pp. 18 - 37. ISSN: 1832-8105

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http://eprints.lse.ac.uk/122847/ Open access version. (application/pdf)

Related works:
Journal Article: Deconstructing Deglobalization: The Future of Trade is in Intermediate Services (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:122847

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