The Global Trade Slowdown: Nominal or Real?

Prema-chandra Athukorala

Departmental Working Papers from The Australian National University, Arndt-Corden Department of Economics

Abstract: This paper revisits the contemporary debate on the deglobalization of merchandise trade using a new dataset that captures changes in the price structure of manufacturing trade associated with the decline in prices of information technology (IT) equipment. There is strong evidence that continued growth in world trade, both in absolute (value) terms and relative to GDP, has remained obscured by the frequent reliance on trade measured at current rather than constant prices. Continuing downward adjustment in the prices of manufactures trade within GVCs has significantly reshaped the price structure of global trade. When appropriately measured in real terms, there is strong evidence that world trade has regained its upward trend following the significant dip during the GFC owing to the dynamism of trade rooted in global production sharing.

JEL-codes: F14 F41 F60 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2024
New Economics Papers: this item is included in nep-ict and nep-int
References: Add references at CitEc
Citations:

Downloads: (external link)
https://crawford.anu.edu.au/sites/default/files/20 ... hukorala_2024_08.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pas:papers:2024-8

Access Statistics for this paper

More papers in Departmental Working Papers from The Australian National University, Arndt-Corden Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Prema-chandra Athukorala ().