The World Economy

1977 - 2025

Current editor(s): David Greenaway

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Volume 46, month 12, 2023

Green tech race? The US Inflation Reduction Act and the EU Net Zero Industry Act pp. 3420-3434

David Kleimann, Niclas Poitiers, André Sapir, Simone Tagliapietra, Nicolas Véron, Reinhilde Veugelers and Jeromin Zettelmeyer

Towards meaningful transparency at the WTO: Reinforcing the trade policy review mechanism pp. 3435-3454

André Brotto Reigado, Simon J. Evenett and Fernando Martin

Trade policy in a ‘double‐landlocked’ transition economy: Kyrgyzstan pp. 3455-3471

Prema‐chandra Athukorala and Hal Hill

Trade policy review of Singapore pp. 3472-3481

Shihao Zhou and Qu Feng

Heterogeneous trade agreements and adverse implications of restrictive rules of origin: Evidence from apparel trade pp. 3482-3510

Kaleb Abreha and Raymond Robertson

Are preferential agreements beneficial to EU trade? New evidence from the EU–South Korea treaty pp. 3511-3541

Beniamino Quintieri and Giovanni Stamato

Quantifying the costs of utilising regional trade agreements pp. 3542-3570

Kazunobu Hayakawa, Naoto Jinji, Nuttawut Laksanapanyakul, Toshiyuki Matsuura and Taiyo Yoshimi

Deep trade agreements and trade costs pp. 3571-3595

Yulin Hou

Deep trade agreements, production position distance and bilateral global value chain participation pp. 3596-3615

Zhaobin Fan, Sajid Anwar and Ying Zhou

Does the depth of trade agreements matter for trade in services? pp. 3616-3653

Amelie Guillin, Isabelle Rabaud and Chahir Zaki

Volume 46, month 11, 2023

Introduction to symposium supply chain trade in Africa: Retrospect and prospect pp. 3184-3191

Jaime de Melo and Marcelo Olarreaga

Sub‐Saharan Africa's participation in global value chains: 1995–2021 pp. 3192-3207

Michele Mancini, Aaditya Mattoo, Daria Taglioni and Deborah Winkler

An analysis of value chain trade in Africa pp. 3208-3230

Angella Montfaucon, Natnael Simachew Nigatu and Socrates Kraido Majune

Regional integration and services in African value chains: Retrospect and prospect pp. 3231-3258

Ben Shepherd

Integration of African countries in regional and global value chains: Static and dynamic patterns pp. 3259-3281

Emmanuel Mensah and Johannes Van Biesebroeck

Surges in participation in global value chains: Drivers and macroeconomic impacts in sub‐Saharan Africa pp. 3282-3300

Christian Hubert Ebeke

African firms in global value chains: What can we learn from firm‐level data in Cameroon and Côte d'Ivoire? pp. 3301-3324

Romaric Coulibaly, Heddie Moreno, Akiko Suwa‐Eisenmann and Nouhoum Traore

Digital connectedness and exports upgrading: Is sub‐Saharan Africa catching up? pp. 3325-3344

Joël Cariolle and Camille da Piedade

Services' trade in Africa: Structure and growth pp. 3345-3366

Andrea Ariu and Laura Ogliari

Trade and value chain participation: Domestic firms and FDI spillovers in Africa pp. 3367-3391

Bernard Hoekman and Marco Sanfilippo

The landscape of CO2 emissions across Africa: A comparative perspective pp. 3392-3418

Jaime de Melo and Jean‐Marc Solleder

Volume 46, month 10, 2023

Geopolitical conflicts, sanctions and international knowledge flows: EU–Russia collaboration during the Ukraine crisis pp. 2926-2949

Teemu Makkonen and Timo Mitze

Exposure to trade disruptions in case of the Russia–Ukraine conflict: A product network approach pp. 2950-2982

Erik Braun, Emese Braun, András Gyimesi, Zita Iloskics and Tamás Sebestyén

Trade‐induced reduction in unemployment of a high‐wage economy pp. 2983-2989

Richard Brecher and Zhihao Yu

The impact of the US–China trade war on domestic and multinational companies in China pp. 2990-2998

Joonhyung Lee and Duy Vu Nguyen

Labour market rigidity and trade margins pp. 2999-3025

Rishav Bista and W. Charles Sawyer

How do digital trade rules affect global value chain trade in services?—Analysis of preferential trade agreements pp. 3026-3047

Jie Wu, Zechu Luo and Jacob Wood

The heterogeneous effects of trade policy on trade resilience during the 2020 trade downturn pp. 3048-3056

Alessandro Nicita and Enxhi Tresa

Remittance flows and informal economies in post‐Soviet transition countries pp. 3057-3080

Jakhongir Kakhkharov and Nicholas Rohde

Measuring the input rank in global supply networks pp. 3081-3115

Armando Rungi, Loredana Fattorini and Kenan Huremović

The impacts of export VAT rebates on market switch and productivity: Firm‐level evidence from China pp. 3116-3135

Yu Gao, Yin He and Xiaopeng Yin

Trade development and agricultural productivity change: Evidence from China pp. 3136-3153

Yuan Ma, Bernhard Brümmer and Xiaohua Yu

The impact of financial development on house prices pp. 3154-3181

Sefa Awaworyi Churchill, Kris Ivanovski, Kwabena Mintah and Quanda Zhang

Volume 46, month 09, 2023

New challenges in international economics and finance pp. 2558-2563

Rebeca Jiménez‐Rodríguez and Maria Prats

Trade in times of uncertainty pp. 2564-2597

Anna Matzner, Birgit Meyer and Harald Oberhofer

Understanding digital services in GVCs: An extended gravity model through the lens of network analysis pp. 2598-2623

Leticia Blázquez, Carmen Díaz‐Mora and Belén González‐Díaz

The impact of climate change on international trade: A gravity model estimation pp. 2624-2653

Alejandra Martínez‐Martínez, Silviano Esteve‐Pérez, Salvador Gil‐Pareja and Rafael Llorca‐Vivero

The enhancing effect of imports of intermediate inputs on firms' exports pp. 2654-2683

Francisco Requena Silvente, Guadalupe Serrano and Raúl Mínguez

Productivity effects of trade in natural resources—comparison with mechanisms of technological specialisation pp. 2684-2706

Zuzanna Zarach and Aleksandra Parteka

Matrix completion of world trade: An analysis of interpretability through Shapley values pp. 2707-2731

Giorgio Gnecco, Federico Nutarelli and Massimo Riccaboni

How unilateral tariffs harm workers under oligopoly pp. 2732-2754

Jonas Rudsinske

Quantitative easing rules as a means to achieve optimal levels of structural reforms and government deficits in a monetary union pp. 2755-2779

Juan Cristóbal Campoy and Juan Negrete

Prudential regulation and bank solvency based on flexible distributions: An example for evaluating the impact of monetary policy pp. 2780-2807

Juan F. Rendón, Lina Cortés and Javier Perote

Tax effects on foreign direct investment—Just a rerouting pp. 2808-2834

Dmitry Erokhin

A new look to the tourism and economic growth nexus: A clustering and panel causality analysis pp. 2835-2856

Isabel P. Albaladejo, Juan Brida, María Isabel González‐Martínez and Verónica Segarra

How taste proximity affects consumer quality valuation of imported varieties: Evidence from the French food sector pp. 2857-2890

Francesco Guerra

Collective bargaining and technological innovation in the EU15: An analysis at establishment level pp. 2891-2924

Julimar da Silva Bichara, Sandro E. Monsueto and Ana I. Viñas

Volume 46, month 08, 2023

Intra‐ and extra‐regional trade costs: A comparative approach to Latin‐American performance pp. 2248-2284

Pedro Moncarz, Manuel Flores, Sebastián Villano and Marcel Vaillant

Import competition and firm productivity: Evidence from German manufacturing pp. 2285-2305

Richard Bräuer, Matthias Mertens and Viktor Slavtchev

Impact of International Investment Agreements on Japanese FDI: A firm‐level analysis pp. 2306-2334

Shujiro Urata and Youngmin Baek

Fiscal multipliers and structural economic characteristics: Evidence from countries in sub‐Saharan Africa pp. 2335-2360

Gabriel Temesgen Woldu and Izabella Szakálné Kanó

How special are special economic zones: Evidence from South Asia pp. 2361-2382

Aradhna Aggarwal

The effects of digital trade policies on digital trade pp. 2383-2407

Jeongmeen Suh and Jaeyoun Roh

Firms persistence under sanctions: Micro‐level evidence from Iran pp. 2408-2431

Iman Cheratian, Saleh Goltabar and Mohammad Reza Farzanegan

The COVID‐19 pandemic and trade in agricultural products pp. 2432-2455

William Ridley, Sherzod Akhundjanov and Stephen Devadoss

Another history of global financial markets: Local stock market integration since 1913 from a network perspective pp. 2456-2477

Cécile Bastidon, Michael Bordo, Antoine Parent and Marc Daniel Weidenmier

Do deep regional trade agreements strengthen anti‐corruption? A social network analysis pp. 2478-2513

Xingyuan Zhang, Rajeev Goel, Jiaming Jiang and Salvatore Capasso

Carbon monoxide and multi‐pollutants flow between China and India: A multiregional input–output model pp. 2514-2537

Yan Li, Yigang Wei, Hanxiao Xu, Huanwen Liu and Julien Chevallier

The international service trade effects of bilateral investment treaties pp. 2538-2555

Tingting Xiong and Hao Sun

Volume 46, month 07, 2023

The European Union and within‐country income inequalities. The case of the new member states pp. 1890-1939

Tomasz Serwach

International trade, intellectual property rights and the (un)employment of migrants pp. 1940-1966

Lucas Guichard and Ignat Stepanok

Firm‐level characteristics and the impact of COVID‐19: Examining the effects of foreign ownership and international trade pp. 1967-1998

Jacob Jordaan

The effect of institutions on the foreign direct investment‐growth nexus: What matters most? pp. 1999-2031

Chengchun Li, Sailesh Tanna and Baseerit Nissah

The foreign aid and remittance nexus: Evidence from South Asia pp. 2032-2053

Syed Ali Abbas, Eliyathamby A. Selvanathan and Saroja Selvanathan

Minimising COVID‐19 transmission cases: Do policies and institutions matter? pp. 2054-2079

Dessie Ambaw, Vutha Hing, Patrick Osakwe and Shandre Mugan Thangavelu

Do international investment agreements attract foreign direct investment in knowledge intensive industries? pp. 2080-2101

Shunya Ozawa

On the relationship between trade openness and government size pp. 2102-2133

Tushar Bharati, Mohammad Farhad and Michael Jetter

Features and evolution of the ‘Belt and Road’ regional value chain: Complex network analysis pp. 2134-2156

Yue Pu, Yunting Li and Jinjin Zhang

Let us misinvoice more? The effect of de jure capital controls on trade misinvoicing pp. 2157-2186

Mianshan Lai and Jia Hou

Spatially uneven pace of deindustrialisation within a country pp. 2187-2230

Kozo Kiyota

The rise of GCC‐East Asian trade: A cointegration approach to analysing trade relationships pp. 2231-2246

Emilie Rutledge and Efstathios Polyzos

Volume 46, month 06, 2023

International investment agreements and foreign direct investment: A survey pp. 1524-1565

Peter Egger, Alain Pirotte and Catharine Titi

How did Brexit impact EU trade? Evidence from real data pp. 1566-1581

Steven Buigut and Burcu Kapar

Optimum financial areas: Retooling the governance of global finance pp. 1582-1608

Geoffrey R. D. Underhill and Erik Jones

The role of the Belt and Road Initiative: New opportunity for Chinese exporters? pp. 1609-1647

Lingduo Jiang, Guofeng Zhang and Hang Zhang

Exposure to FDI and attitudes towards multinational enterprises: Do M&A matter? pp. 1648-1669

Chiara Franco, Giovanni Marin and Filomena Pietrovito

Emission reduction and value‐added export nexus at firm level pp. 1670-1710

Yuping Deng, Yanrui Wu and Helian Xu

Service trade restrictiveness and foreign direct investment—Evidence from greenfield FDI in business services pp. 1711-1758

Andre Jungmittag and Robert Marschinski

Who are pure exporters? pp. 1759-1781

Doungdao Mahakitsiri and Wisarut Suwanprasert

Cross‐country linkages between ASEAN and non‐ASEAN‐RCEP member states: A global VAR analysis pp. 1782-1814

Mala Raghavan, Faisal Khan, Sonia Kumari Selvarajan and Evelyn Devadason

Productivity effects of corporate income tax: Evidence from China pp. 1815-1842

Hongsheng Fang, Xufei Zhang and Lin Guo

Robustness and resilience of supply chains during the COVID‐19 pandemic pp. 1843-1872

Yasuyuki Todo, Keita Oikawa, Masahito Ambashi, Fukunari Kimura and Shujiro Urata

Declining long‐run income elasticities and the rise of cyclicality of trade: Evidence from Greece, 1995–2018 pp. 1873-1888

Nicholas‐Joseph Lazarou and Andreas Zervas

Volume 46, month 05, 2023

Geopolitical competition, globalisation and WTO reform pp. 1163-1188

Bernard Hoekman, Petros C. Mavroidis and Douglas Nelson

Intangible trade: Understanding the relationship between trade barriers and mode of supply in services sectors pp. 1189-1234

Tamar Khachaturian and Sarah Oliver

The challenging estimation of trade elasticities: Tackling the inconclusive Eurozone evidence pp. 1235-1263

Sascha Keil

The proximity‐concentration trade‐off with multi‐product firms: Are exports and FDI complements or substitutes? pp. 1264-1289

Jean‐Charles Bricongne, Sebastian Franco-Bedoya and Margarita Lopez Forero

Foreign direct investment and product quality in host economies pp. 1290-1318

Sajid Anwar and Sizhong Sun

The trade‐GDP ratio as a measure of openness pp. 1319-1332

Michael Bleaney and Mo Tian

Natural disasters, climate change, and structural transformation: A new perspective from international trade pp. 1333-1377

Ruohan Wu

The impact of COVID‐19 on international tourism flows to Italy: Evidence from mobile phone data pp. 1378-1407

Valerio Della Corte, Claudio Doria and Giacomo Oddo

Trade liberalisation and trade and capital flows: Evidence from China pilot free trade zones pp. 1408-1422

Te Bao, Yun Dai, Yanxiang Feng, Shuai Liu and Ruixin Wang

Exchange rate regimes and current account persistence pp. 1423-1443

Fu‐Min Tseng and Jyh‐Lin Wu

Internet penetration and multi‐product exporters: Firm‐level evidence from China pp. 1444-1470

Shuzhong Ma and Zengxi Hu

Do imports of intermediate inputs generate higher productivity? Evidence from Ecuadorian manufacturing firms pp. 1471-1521

Segundo Camino‐Mogro and Paul Carrillo‐Maldonado

Volume 46, month 04, 2023

Economic costs of the Russia‐Ukraine war pp. 874-886

Iana Liadze, Corrado Macchiarelli, Paul Mortimer‐Lee and Patricia Sánchez Juanino

War in Ukraine: The options for Europe's energy supply pp. 887-896

Christopher Aitken and Erkal Ersoy

Can Europe live without Russian natural gas? pp. 897-905

Ben McWilliams, Giovanni Sgaravatti, Simone Tagliapietra and Georg Zachmann

The effectiveness of embargoes: Evidence from Russia pp. 906-940

Anna Miromanova

Child labour and global value chains pp. 941-968

Cristian Ugarte, Marcelo Olarreaga and Gady Saiovici

Economic ideas and Taiwan's shift to export promotion in the 1950s pp. 969-990

Douglas A. Irwin

How to escape from the debt trap: Lessons from the past pp. 991-1016

Thomas Mayer and Gunther Schnabl

Economic sanction and global sourcing complexity: A cross‐country analysis pp. 1017-1050

Tran Manh Ha and Thang Doan

Epidemic outbreak and foreign direct investment fluctuation pp. 1051-1081

Zhen Yu, Yuankun Li and Jing Zhao

Corruption, tax reform and fiscal space in emerging and developing economies pp. 1082-1118

Hermann D. Yohou

Cultural institutes: Networks and determinants pp. 1119-1143

Steven Yamarik and Mariya Mileva

Bank‐intermediated trade finance and the intensive margin of African trade pp. 1144-1160

Eugene Bempong Nyantakyi

Volume 46, month 03, 2023

Designing ‘optimal’ sanctions on Russian imports pp. 498-531

Simon Schropp and Marinos Tsigas

The long‐term impact of trade protection pp. 532-559

Benjamin Liebman and Kasaundra Tomlin

Endogenous transport costs and international trade pp. 560-597

Kurt Hafner, Jörn Kleinert and Julia Spies

What drives most jumps in global crude oil prices? Fundamental shortage conditions, cartel, geopolitics or the behaviour of financial market participants pp. 598-618

Refk Selmi, Shawkat Hammoudeh and Mark E. Wohar

Effective GDP: A Cross‐Country Comparison pp. 619-652

Fahd Rehman and Russel Cooper

The impact of economic hardships on the intent to migrate: Micro‐level evidence from Venezuela pp. 653-680

Alberto Posso, Nicholas Bodanac and Facundo Palermo

Dynamic impacts of intermittent trade conflicts pp. 681-701

Ruohan Wu and Mario J. Miranda

The Chinese‐style macroeconomic control: The role of state‐owned enterprises pp. 702-725

Hongsheng Fang, Wen‐Quan Hu, Ruhua Shi and Xufei Zhang

Global value chains and female employment: The evidence from Vietnam pp. 726-757

Linh Thuy Pham and Yothin Jinjarak

Export structure, import demand elasticity and export stability pp. 758-790

Hua Zhou and Jiachen Fan

Exports and imports in Turkey: A regime‐switching approach pp. 791-834

Aysun Türkvatan

Internet and firms’ exports and imports: Firm level evidence from China pp. 835-872

Bing Li, Linyue Li, Rou Li and Yunsong Yue

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 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 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 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 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 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