The World Economy

1977 - 2023

Current editor(s): David Greenaway

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Volume 46, month 02, 2023

Rethinking regional integration in Africa for inclusive and sustainable development: Introduction to the special issue pp. 304-311

Andy McKay, Olawale Ogunkola and Haji Hatibu Semboja

Nigeria and the AfCFTA as a two‐level game pp. 312-327

Bruce Irving Byiers and Sean Woolfrey

The trade effects of the African Continental Free Trade Area: An empirical analysis pp. 328-345

Alemayehu Geda and Addis Yimer

Linking Southern Africa to South Africa's exports: New opportunities for regional value chains pp. 346-362

Karishma Banga and Neil Balchin

Competitiveness and diversification of services exports in sub‐Saharan Africa pp. 363-381

Maureen Were and Maureen Odongo

Services trade policy and industry performance in African economies pp. 382-395

Matteo Fiorini, Bernard Hoekman and Dennis Quinn

Regional integration and non‐tariff barriers to Intra‐Sub‐Saharan Africa trade pp. 396-414

Ebo Turkson, Abena D. Oduro, Priscilla Twumasi Baffour and Peter Quartey

Effects of import taxes on intra‐African trade: New evidence from a case study of Malawi's imports pp. 415-436

Chinyamata Chipeta and Angella Faith Montfaucon

Cementing regional integration or building walls? Competition, cartels and regional integration in the cement industry in Africa pp. 437-452

Simon Roberts, Witness Simbanegavi and Thando Vilakazi

Infrastructure and intra‐regional trade in Africa pp. 453-471

Verena Tandrayen‐Ragoobur, Patrice Ongono and Jiong Gong

Catalysing regional integration in Africa: The role of infrastructure pp. 472-495

Chuku Chuku, Anthony Simpasa and Akpan Ekpo

Volume 46, month 01, 2023

The electric vehicle revolution: Critical material supply chains, trade and development pp. 2-26

Benjamin Jones, Viet Nguyen‐Tien and Robert J. R. Elliott

Revisiting the nexus between globalisation and the shadow economy: Untying the influences of de jure versus de facto globalisation pp. 27-54

Aziz N. Berdiev, Brandon Gomes and James W. Saunoris

Can labour market institutions mitigate the China syndrome? Evidence from regional labour markets in Europe pp. 55-84

Jan‐Luca Hennig

Foreign firm characteristics, labour market restrictions and FDI spillovers: Evidence from Moldova pp. 85-119

Shawn W. Tan and Dea Tusha

Is price undertaking a more friendly protection policy than an anti‐dumping duty? pp. 120-134

Cheng-Hau Peng, Hong Hwang and Kuo‐Feng Kao

Does it matter where you invest? The impact of foreign direct investments on domestic job creation and destruction pp. 135-152

Bin Ni, Hayato Kato and Yang Liu

Does servicification of manufacturing increase the GVC activities of firms? Case of India pp. 153-181

Ketan Reddy, Subash Sasidharan and Shandre Thangavelu

Trade in health products and population health: A long‐run relation pp. 182-207

Ayona Bhattacharjee and Rupa Chanda

Real exchange rate shocks and new product margins in the export market pp. 208-235

Chin Hee Hahn and Ju Hyun Pyun

Income distribution and unequal gains from trade pp. 236-255

Bo Gao and Bin Qiu

Covid‐19 in America: Global supply chain reconsidered pp. 256-275

Christine Ngoc Ngo and Huong Dang

Foreign demand shocks, product switching, and export product quality: Evidence from China pp. 276-301

Han Wu, Jie Li and Yu Zhao

Volume 45, month 12, 2022

Moving ideas across borders: Foreign inventors, patents and FDI pp. 3652-3678

Ana Cuadros, Antonio Navas and Jordi Paniagua

The impact of employment protection on FDI at different stages of economic development pp. 3679-3714

Sulistiyo K. Ardiyono and Arianto Patunru

Multinationals and domestic total factor productivity: Competition effects, knowledge spillovers and foreign ownership pp. 3715-3750

Ioannis Bournakis, Sotiris Papaioannou and Marina Papanastassiou

The trade impact of the COVID‐19 pandemic pp. 3751-3779

Xuepeng Liu, Emanuel Ornelas and Huimin Shi

Global value chains and the CPTPP pp. 3780-3832

Pao‐Li Chang and Phuong T. B. Nguyen

Does antidumping drive exporters out of the market? Some evidence from Brazil pp. 3833-3857

Bruno Mazzucco and Mauricio Bittencourt

U.S.‐South America trade and the J‐Curve: An asymmetric analysis pp. 3858-3872

Mohsen Bahmani‐Oskooee, Augustine C. Arize and Ebere Ume Kalu

How does TRIPs compliance affect the economic growth of developing countries? Application of the Synthetic Control method pp. 3873-3906

Pamela J. Smith and Sebastian J. Anti

U.S.–China trade war and corporate reallocation: Evidence from Chinese listed companies pp. 3907-3932

Haoyuan Ding, Kees G. Koedijk, Tong Qi and Yanqing Shen

State aid in government procurement pp. 3933-3946

Xiaoyong Cao, Jiong Gong and Guoqiang Tian

Manufacturing capital utilisation, firm dynamics and wage inequality pp. 3947-3970

Chi‐Chur Chao, May Hu and Xuan Nguyen

Volume 45, month 11, 2022

Cutting Russia's fossil fuel exports: Short‐term economic pain for long‐term environmental gain pp. 3314-3343

Maksym Chepeliev, Thomas Hertel and Dominique van der Mensbrugghe

Estimating the economic effects of sanctions on Russia: An Allied trade embargo pp. 3344-3383

Kornel Mahlstein, Christine McDaniel, Simon Schropp and Marinos Tsigas

Korea's trade policy and performance in turbulent times pp. 3384-3397

Moonsung Kang and Innwon Park

The European Union's withdrawal of trade preferences for Cambodia pp. 3398-3419

Kiyoyasu Tanaka

The multilateral trade policy of the Arab league countries: An empirical investigation pp. 3420-3450

Atika Benaddi and Peri Silva

Supply spillovers during the pandemic: Evidence from high‐frequency shipping data pp. 3451-3474

Diego A. Cerdeiro and András Komáromi

COVID‐19, trade collapse and GVC linkages: European experience pp. 3475-3506

Katja Zajc Kejžar, Alan Velić and Joze Damijan

On COVID‐19 pandemic and China’s foreign trade pp. 3507-3533

Jing Fang, Jinghua Ou and Shujie Yao

Pace of structural change and inter‐sectoral relative price: The case of India and China pp. 3534-3558

Subhasankar Chattopadhyay

China's impact on regional employment: Propagation through input–output linkages and co‐location patterns pp. 3559-3601

Shuhei Kainuma and Yukiko Saito

Opportunity equality and development: Rural income mobility and city size in China pp. 3602-3624

Binkai Chen, Dan Liu and Ming Lu

Investment incentives and leverage: Evidence from China’s accelerated depreciation policy pp. 3625-3649

Lexin Zhao and Hongsheng Fang

Volume 45, month 10, 2022

The nexus between natural disasters, supply chains and trade—Revisiting the role of preferential trade agreements in disaster risk reduction pp. 3002-3030

Risti Permani and Xing Xu

Learn German, Buy German? Language‐learning opportunities abroad and exports pp. 3031-3058

Omar Martin Fieles‐Ahmad and Matthias Huber

Long‐run effects of trade liberalisation on local labour markets: Evidence from South Africa pp. 3059-3079

Paulo Bastos and Nicolas Santos

Explaining the global landscape of foreign direct investment: Knowledge capital, gravity, and the role of culture and institutions pp. 3080-3108

Sophie Therese Schneider and Konstantin Wacker

On the trade effects of bilateral SPS measures in developed and developing countries pp. 3109-3145

Fabio Santeramo and Emilia Lamonaca

COVID‐19, services trade and greenfield investment in ASEAN+6 pp. 3146-3168

Anirudh Shingal

Backcasting world trade growth using data reduction methods pp. 3169-3191

Amélie Charles and Olivier Darné

Are capital inflow bonanzas a common precursor to banking crises? A categorical data analysis pp. 3192-3223

Saktinil Roy and David Kemme

Can money buy friendship?—Evidence from the US and China’s competition for influence through foreign aid pp. 3224-3245

Huanhuan Zheng and Chen Li

COVID‐19 test‐kit trade and trade policy: Implications for developing countries pp. 3246-3268

Long Vo and Thai-Ha Le

Trade policy in a sovereign Palestinian State: What are the options in a final settlement? pp. 3269-3293

Johanes Agbahey, Khalid Siddig, Harald Grethe and Jonas Luckmann

Producer service foreign direct investment and pollution in China pp. 3294-3311

Bo Chen, Han Wang and Jishun Zhou

Volume 45, month 09, 2022

Manufacturing and service‐sector productivity in Turkey: A perspective from firm‐level data pp. 2698-2723

Nazire Nergiz Dincer, Barry Eichengreen and Ayça Tekin‐Koru

Trade liberalisation and the extensive margin of differentiated goods: Evidence from China pp. 2724-2747

Johannes Van Biesebroeck, Yingting Yi and Elena Zaurino

What drives updates of inflation expectations? A Bayesian VAR analysis for the G‐7 countries pp. 2748-2765

Joscha Beckmann, Ansgar Belke and Irina Dubova

Exploring the driving mechanism and the evolution of the low‐carbon economy transition: Lessons from OECD developed countries pp. 2766-2795

Bolin Yu, Debin Fang, Andrew N. Kleit and Kun Xiao

Quality of imported intermediates, innovation behaviour and markups: Firm‐level evidence from China pp. 2796-2819

Xianhai Huang, Yi Wang, Zhujun Zhu and Xueyin Song

The heterogeneous effects of trade agreements with labour provisions pp. 2820-2853

Jacopo Timini, Nicola Cortinovis and Fernando López Vicente

Geographic politics, loss aversion and trade policy: The case of cotton in China pp. 2854-2881

Wenshou Yan and Kaixing Huang

Do political relations affect exports to China? Evidence from the ‘Quad’ pp. 2882-2901

Vishesh Agarwal and Jane Golley

Exchange rates and foreign direct investment: Evidence from Chinese firm‐level data pp. 2902-2923

Shi Li and Hironobu Nakagawa

Fiscal transfers and economic convergence: Evidence from China pp. 2924-2949

Guanchun Liu, Jianbo Song and Chengsi Zhang

China's anti‐corruption campaign and outward foreign direct investment by state‐owned enterprises pp. 2950-2976

Zhen Qi, Tristan Kenderdine, Tingfeng Tang and Qiren Liu

The impact of trade preferences removal: Evidence from the Belarus Generalized System of Preferences withdrawal pp. 2977-3000

Hinnerk Gnutzmann and Arevik Gnutzmann‐Mkrtchyan

Volume 45, month 08, 2022

Global value chains, trade shocks and jobs: An application to Brexit pp. 2338-2369

Hylke Vandenbussche, William Connell and Wouter Simons

The determinants of air cargo flows and the role of multinational agreements: An empirical comparison with trade and air passenger flows pp. 2370-2393

Katrin Oesingmann

When does foreign direct investment lead to inclusive growth? pp. 2394-2427

Hyojung Kang and Jorge Martinez‐Vazquez

The effects of restrictive measures on cross‐border investment: Evidence from OECD and emerging countries pp. 2428-2477

Amara Zongo

Modelling global value chains: From trade costs to policy impacts pp. 2478-2509

Ben Shepherd

Bilateral servicification in global value chains and deep trade agreements pp. 2510-2531

Carmen Díaz‐Mora, Erena García‐López and Belén González‐Díaz

Free trade agreements partnership and value chain linkages: Evidence from China pp. 2532-2559

Dazhong Cheng, Jian Wang and Zhiguo Xiao

Network‐adjusted market share and the currency denomination of trade pp. 2560-2592

Davide Arioldi, Luigi Ventura and Mark Witte

Financial structure and earnings manipulation activities in China pp. 2593-2621

Muhammad Kaleem Khan, Yixuan Qin and Chengsi Zhang

How Central Asia to Escape from trade isolation?: Policy targeted scenarios by CGE modelling pp. 2622-2648

Inkyo Cheong and Valijon Turakulov

Merchandise export diversification strategy for Tanzania: Promoting inclusive growth, economic complexity and structural change pp. 2649-2695

Christian Estmann, Bjørn Bo Sørensen, Benno Ndulu and John Rand

Volume 45, month 07, 2022

The West’s Teeth: IMF conditionality during the Cold War pp. 2034-2051

Ariel Akerman, João Paulo Pessoa and Leonardo Weller

To default or not? The aftermath of sovereign defaults and IMF programs in economic crises pp. 2052-2083

Tuomas Malinen and Olli Ropponen

Does the belt and road initiative stimulate Chinese exports? Evidence from micro data pp. 2084-2100

Holger Görg and Haiou Mao

Structural change and trade openness in sub‐Saharan African countries pp. 2101-2134

Kabinet Kaba, Justin Yifu Lin and Mary‐Françoise Renard

Profit‐raising entry under oligopolistic trade with endogenous input prices pp. 2135-2164

Robin Naylor and Christian Soegaard

Globalisation, economic uncertainty and labour market regulations: Implications for the COVID‐19 crisis pp. 2165-2187

Jianchun Fang, Giray Gözgör and James H. Nolt

Curse of friendship: IMF programme, friendship with the United States and foreign direct investment pp. 2188-2221

Chungshik Moon and Byungwon Woo

Productivity and wage effects of firm‐level upstreamness: Evidence from Belgian linked panel data pp. 2222-2250

Benoît Mahy, Francois Rycx, Guillaume Vermeylen and Mélanie Volral

Heterogeneous impact of import competition on firm organisation: Evidence from Japanese firm‐level data pp. 2251-2269

Toshiyuki Matsuura

How trade affects pandemics? Evidence from severe acute respiratory syndromes in 2003 pp. 2270-2283

Faqin Lin, Xiaosong Wang and Mohan Zhou

Revisiting economic effectiveness of foreign aid: The case of Japanese aid to China pp. 2284-2304

Jing Shao and Maojun Wang

Development aid and illicit capital flight: Evidence from Nepal pp. 2305-2336

Sven Steinkamp and Frank Westermann

Volume 45, month 06, 2022

International trade and labour market integration of immigrants pp. 1650-1689

Magnus Lodefalk, Fredrik Sjöholm and Aili Tang

Does economic globalisation promote economic growth? A meta‐analysis pp. 1690-1712

Philipp Heimberger

Determinants of regional trade agreement utilisation: Evidence from multiple import countries in Asia pp. 1713-1736

Kuo‐I Chang, Kazunobu Hayakawa, Nuttawut Laksanapanyakul, Dionisius Narjoko, Ju Hyun Pyun and Francis Quimba

Monetary policy regimes: A global assessment pp. 1737-1772

Harsha Paranavithana, Rodney Tyers, Leandro Magnusson and Florian Schiffmann

Foreign direct investment and onshore employment dynamics: Evidence from German firms with affiliates in the Czech Republic pp. 1773-1829

Konstantin Koerner, Michael Moritz and Johannes Schäffler

Undercurrents in the world economy: Evolving global investment flows in the South pp. 1830-1855

Lucía Gómez, Päivi Oinas and Ronald Sean Wall

Multi‐product firms, product quality heterogeneity and trade liberalisation pp. 1856-1875

Sisi Yin, Yunshu Gao and Bo Gao

Foreign direct investment and regional innovation: Evidence from China pp. 1876-1909

Haiwei Jiang, Yousha Liang and Shiyuan Pan

Economic performance in Africa: The role of fragile financial system pp. 1910-1936

John Nkwoma Inekwe

The impact of conflict and political instability on banking crises in developing countries pp. 1937-1977

Rasmane Ouedraogo, Montfort Mlachila, Windemanegda Sandrine Sourouema and Ali Compaoré

Belt and road initiative and Chinese cross‐border mergers and acquisitions pp. 1978-1996

Chi Zhang, Ivan T. Kandilov and Mark D. Walker

Effects of exchange rates and invoiced currencies on trade: Evidence from South Korea pp. 1997-2031

Makoto Shimizu and Joon‐Heon Song

Volume 45, month 05, 2022

Trade in Small Arms and Light Weapons: Are embargoes effective? pp. 1336-1361

Adelaide Baronchelli, Raul Caruso and Roberto Ricciuti

Global value chain participation and its impact on industrial upgrading pp. 1362-1385

Kailan Tian, Erik Dietzenbacher and Richard Jong‐A‐Pin

Threshold effects of openness on real and nominal effective exchange rates in emerging and developing economies pp. 1386-1408

Helena Glebocki Keefe and Sujata Saha

UK trade in the time of COVID‐19: A review pp. 1409-1446

Jun Du and Oleksandr Shepotylo

Technical regulation and trade: Export quality matters pp. 1447-1476

Hea-Jung Hyun and Yong Joon Jang

Endogenous transport price, R&D spillovers, and trade pp. 1477-1500

Kazuhiro Takauchi and Tomomichi Mizuno

The impact of free trade agreements on Middle East and North Africa exports of intermediate and final goods pp. 1501-1527

Adriana Cardozo, Inmaculada Martínez‐Zarzoso and Paula L. Vogler

An account of the exporter wage gap: Wage structure and composition effects across the wage distribution pp. 1528-1563

José Groizard, Xisco Oliver and María Sard

Multinational firms and human capital investment: A dynamic knowledge‐capital model pp. 1564-1586

Xin Wang

The pro‐competitive effects of foreign firm entry: Evidence from the Korean retail sector pp. 1587-1613

Kyung In Hwang

Cross‐border M&As and the performance of Chinese acquiring firms pp. 1614-1647

Wenli Sun and Dan Xie

Volume 45, month 03, 2022

On the sensitivity of trade costs to services trade restrictions† pp. 592-607

Sven Blank and Peter Egger

Drivers of financial globalisation: The role of informational frictions pp. 608-636

Florian Haelg

Demand and supply exposure through global value chains: Euro‐Mediterranean countries during COVID pp. 637-656

Rym Ayadi, Giorgia Giovannetti, Enrico Marvasi, Giulio Vannelli and Chahir Zaki

Be good to thy neighbours: A spatial analysis of foreign direct investment and economic growth in sub‐Saharan Africa pp. 657-701

Yao-Yu Chih, Ruby P. Kishan and Andrew Ojede

Trade agreements and participation in global value chains: Empirical evidence from Latin America pp. 702-738

Eduardo Sanguinet, Augusto Mussi Alvim and Miguel Atienza

Financial development and natural resources: The dynamics of China’s outward FDI pp. 739-762

Ling Feng, Lulan Ge, Zhiyuan Li and Ching‐Yi Lin

Intellectual property rights and trade: The exceptional case of GMOs pp. 763-811

Pamela Smith and Xiangwen Kong

Industrial plans, export destinations and product quality pp. 812-840

Jiemiao Dong, Yinxia Mi and Zhuangxiong Yu

The U.S.‐Canadian trade and exchange rate uncertainty: Asymmetric evidence from commodity trade pp. 841-866

Mohsen Bahmani‐Oskooee and Hanafiah Harvey

Trade, conflict and informality: Evidence from the South Sudanese civil war pp. 867-894

Jakob Rauschendorfer and Ben Shepherd

Trade direction, market access and regional wage inequality: An explanation based on asymmetric trade costs pp. 895-913

Linhui Yu, Sai Wang, Jinwen Cheng and Lihong Yang

Global macroeconomic impacts of demographic change pp. 914-942

Weifeng Liu and Warwick McKibbin

Volume 45, month 02, 2022

COVID‐19, trade and trade policy pp. 338-341

David Greenaway and Douglas Nelson

Trade policy responses to the COVID‐19 pandemic crisis: Evidence from a new data set pp. 342-364

Simon Evenett, Matteo Fiorini, Johannes Fritz, Bernard Hoekman, Piotr Lukaszuk, Nadia Rocha, Michele Ruta, Filippo Santi and Anirudh Shingal

Who sends me face masks? Evidence for the impacts of COVID‐19 on international trade in medical goods pp. 365-385

Kazunobu Hayakawa and Kohei Imai

Do stock markets play a role in determining COVID‐19 economic stimulus? A cross‐country analysis pp. 386-408

Muhammad Shafiullah, Usman Khalid and Sajid M. Chaudhry

COVID‐19, public procurement regimes and trade policy pp. 409-429

Bernard Hoekman, Anirudh Shingal, Varun Eknath and Viktoriya Ereshchenko

COVID‐19 and tourism: What can we learn from the past? pp. 430-444

Martina Aronica, Pietro Pizzuto and Caterina Sciortino

Simulating the trade effects of the COVID‐19 pandemic: Scenario analysis based on quantitative trade modelling pp. 445-467

Eddy Bekkers and Robert Koopman

How COVID‐19 vaccine supply chains emerged in the midst of a pandemic pp. 468-522

Chad Bown and Thomas J. Bollyky

How COVID‐19 travels in‐ and outside of value chains and then affects the stock market: Evidence from China pp. 523-538

Peter Egger and Jiaqing Zhu

Cling together, swing together: The contagious effects of COVID‐19 on developing countries through global value chains pp. 539-560

Stefan Pahl, Clara Brandi, Jakob Schwab and Frederik Stender

Pandemic trade: COVID‐19, remote work and global value chains pp. 561-589

Alvaro Espitia, Aaditya Mattoo, Nadia Rocha, Michele Ruta and Deborah Winkler

Volume 45, month 01, 2022

A multi‐country analysis of austerity policies in the European Union pp. 4-35

Oscar Bajo‐Rubio and Antonio G. Gómez‐Plana

Commitment behaviour in the World Trade Organization's Trade Facilitation Agreement pp. 36-75

Russell Hillberry and Carlos Zurita

The ‘Forgotten’ middle class: An analysis of the effects of globalisation pp. 76-110

Regina Pleninger, Jakob de Haan and Jan-Egbert Sturm

Does more finance lead to longer crises? pp. 111-135

Clément Mathonnat, Alexandru Minea and Marcel Voia

Convex vacancy creation costs and on‐the‐job search in a global economy pp. 136-175

Christian Holzner and Mario Larch

Experience and market signals in export entry decisions pp. 176-199

Beverly Mendoza

Internationalisation of education and its effect on economic growth and development pp. 200-219

Mamta Chowdhury

International capital markets and domestic employment: Evidence from worldwide publicly listed large firms pp. 220-250

Fangfang Hou, Elisabetta Magnani and Xinpeng Xu

Intra‐regional spillovers from Nigeria and South Africa to the rest of Africa: New evidence from a FAVAR model pp. 251-275

Oyenyinka Sunday Omoshoro‐Jones and Lumengo Bonga‐Bonga

Prevalence of SOEs and intergenerational income persistence: Evidence from China pp. 276-291

Haichao Fan, Zheng Fang, Bihong Huang and Mohan Zhou

The hedge asset for BRICS stock markets: Bitcoin, gold or VIX pp. 292-316

Syed Jawad Hussain Shahzad, Elie Bouri, Mobeen Ur Rehman and David Roubaud

Dependence structure between oil and other commodity futures in China based on extreme value theory and copulas pp. 317-335

Saiful Izzuan Hussain and Steven Li