The World Economy

1978 - 2025

Current editor(s): David Greenaway

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Volume 43, month 12, 2020

Rethinking international subsidy rules pp. 3104-3132

Bernard Hoekman and Douglas Nelson

Trade policymaking in Uruguay: Recent trends and challenges ahead pp. 3133-3141

Carmen Estrades and Manuel Flores

The impact of foreign direct investment on host country exports: A meta‐analysis pp. 3142-3183

Radovan Kastratovic

Technological spillovers from multinational firms pp. 3184-3202

Andrés Barge‐Gil, Alberto López and Ramón Núñez‐Sánchez

Do types of foreign capital matter for income equality? pp. 3243-3261

Inmee Baek and Andrew Chia

The importance of heterogeneity in determining the effects of preferential trade agreements on Foreign Direct Investment pp. 3262-3295

Norikatsu Hiraide, Leilei Shen and Peri Silva

South Korea’s outward direct investment and its dyadic determinants: Foreign aid, bilateral treaty and economic diplomacy pp. 3296-3313

Geonwoo Park and Heon Joo Jung

Endogenous cyclical corporate tax burden in China: The role of tax quotas and growth targets pp. 3314-3339

Hongsheng Fang, Minyuan He, Dandan Dang and Jun Zhang

Fiscal incentives and local tax competition: Evidence from China pp. 3340-3356

Yongzheng Liu, Hang Tai and Chenping Yang

The environmental effect of trade liberalization: Evidence from China's manufacturing firms pp. 3357-3383

Jingbo Cui, On Kit Tam, Bei Wang and Yan Zhang

Productivity of core infrastructure investment in China: An input–output approach pp. 3384-3406

Zhifeng Wang, Guiying Wu and Qu Feng

How trade and investment agreements affect bilateral foreign direct investment: Results from a structural gravity model

Henk Kox and Hugo Rojas‐Romagosa

Volume 43, month 11, 2020

The effects of services trade policies. Introduction to the special issue pp. 2826-2829

Peter Egger and Johannes Schwarzer

Foreign multinationals in service sectors: A general equilibrium analysis of Brexit pp. 2830-2859

María C. Latorre, Zoryana Olekseyuk and Hidemichi Yonezawa

Regulatory barriers to trade in services: A new database and composite indices pp. 2860-2879

Sebastian Benz, Janos Ferencz and Hildegunn Nordås

The value of market access and national treatment commitments in services trade agreements pp. 2880-2904

Philipp Lamprecht and Sébastien Miroudot

Firm heterogeneity in services trade: Micro‐level evidence from eight OECD countries pp. 2905-2931

Sebastian Benz, Dorothée Rouzet and Francesca Spinelli

Patterns of trade restrictiveness in online platforms: A first look pp. 2932-2959

Martina Francesca Ferracane and Erik van der Marel

Does economic globalisation affect income inequality? A meta‐analysis pp. 2960-2982

Philipp Heimberger

The contribution of granular and fundamental comparative advantage to European Union countries' export specialisation pp. 2983-3005

Juan de Lucio, Raúl Mínguez, Asier Minondo and Francisco Requena Silvente

Conform or challenge? Adjustment strategies of sanction‐torn companies pp. 3006-3024

Patrick Maximilian Weber and Beata Stępień

Optimism and pessimism: A cross‐country comparison pp. 3025-3038

Fahd Rehman

The labor market effects of the China Syndrome: Evidence from South Korean manufacturing pp. 3039-3087

Jaerim Choi and Mingzhi (Jimmy) Xu

Long‐term vision and economic development pp. 3088-3102

Oasis Kodila‐Tedika and Sherif Khalifa

Volume 43, month 10, 2020

Unemployment governance, labour cost and earnings management: Evidence from China pp. 2526-2548

Hamid Beladi, Chen Cheng, May Hu and Yuan Yuan

The impact of single windows on trade pp. 2549-2573

Inmaculada Martínez‐Zarzoso and Santiago Chelala

EMU and trade: A PPML re‐assessment with intra‐national trade flows pp. 2574-2599

Silviano Esteve‐Pérez, Salvador Gil‐Pareja, Rafael Llorca‐Vivero and José Antonio Martínez‐Serrano

The impact of monetary and tax policy on income inequality in Japan pp. 2600-2621

Farhad Taghizadeh‐Hesary, Naoyuki Yoshino and Sayoko Shimizu

Trade openness and the environmental Kuznets curve: Evidence from Chinese cities pp. 2622-2649

Zheng Fang, Bihong Huang and Zhuoxiang Yang

Sources of inequality in the Philippines: Insights from stochastic dominance tests for richness and poorness pp. 2650-2673

Maria Rebecca Valenzuela, Wing-Keung Wong and Zhen Zhen Zhu

Export diversification, margins and economic growth at industrial level: Evidence from Thailand pp. 2674-2722

Juthathip Jongwanich

The forward‐looking ability of the real exchange rate and its misalignment to forecast the economic performance and the stock market return pp. 2723-2741

Douglas Wong

Fending off waste from the west: The impact of China's Operation Green Fence on the international waste trade pp. 2742-2761

Adomas Balkevicius, Mark Sanctuary and Sigita Zvirblyte

What attracts foreign direct investment into autocratic states? Regime time horizon and institutional design pp. 2762-2784

Lin Cui and Chungshik Moon

New empirical evidence on CEE's stock markets integration pp. 2785-2802

Claudiu Boţoc and Sorin Anton

Performance estimation of a wind farm with a dependence structure between electricity price and wind speed pp. 2803-2822

Laura Casula, Guglielmo D'Amico, Giovanni Masala and Filippo Petroni

Volume 43, month 09, 2020

US–China rivalry: The macro policy choices pp. 2286-2314

Rodney Tyers and Yixiao Zhou

What goes around comes around: The effects of sanctions on Swedish firms in the wake of the Ukraine crisis pp. 2315-2342

Joakim Gullstrand

Financial globalisation and the labour share in developing countries: The type of capital matters pp. 2343-2374

Katharina van Treeck and Konstantin Wacker

Time, uncertainty and trade flows pp. 2375-2392

José Ansón, Jean‐François Arvis, Mauro Boffa, Matthias Helble and Ben Shepherd

Is the unemployment–inflation trade‐off still alive in the Euro Area and its member countries? It seems so pp. 2393-2410

Antonio Ribba

The trade facilitation impact of the Chinese diaspora pp. 2411-2436

Inmaculada Martínez‐Zarzoso and Robert Rudolf

Consumption and exchange rate uncertainty: Evidence from selected Asian countries pp. 2437-2462

Bernard Njindan Iyke and Sin-Yu Ho

Effects of cultural institutes on bilateral trade and FDI flows: Cultural diplomacy or economic altruism? pp. 2463-2489

Firat Demir and Hyeonjin Im

Industrial research and development and real exchange rate depreciation in a small open economy pp. 2490-2523

Saleh S. Tabrizy

Volume 43, month 08, 2020

The gravity model and trade in intermediate inputs pp. 2034-2049

Theresa Greaney and Kozo Kiyota

Financial literacy and support for free trade in the UK pp. 2050-2069

Beatrice Magistro

Industrial policy in the era of global value chains: Towards a developmentalist framework drawing on the industrialisation experiences of South Korea and Taiwan pp. 2070-2092

Jostein Hauge

The effect of border barriers to services trade on goods trade pp. 2093-2118

Nazire Nergiz Dincer and Ayça Tekin‐Koru

Does corruption boost or harm firms’ performance in developing and emerging economies? A firm‐level study pp. 2119-2152

Maria Martins, Jorge Cerdeira and Aurora Teixeira

Impacts of tangible and intangible elements of Aid for Trade on the globalisation of developing countries pp. 2153-2171

Hyo Won Lee and Youngwan Kim

Modelling the impact of non‐tariff measures on supply chains in ASEAN pp. 2172-2198

Mike Webb, Anna Strutt, John Gibson and Terrie Walmsley

Understanding the role of China's domestic market in the (unequal) growth of world economy pp. 2199-2221

Sunghoon Chung

US–Brazilian cotton policies pp. 2222-2236

Stephen Devadoss and Jeff Luckstead

Trade liberalisation and domestic brands: Evidence from China's accession to the WTO pp. 2237-2262

Xinghua Deng, Ran Jing and Zheng Liang

Dynamics of FII flows and stock market returns in a major developing country: How does economic uncertainty matter? pp. 2263-2284

Sangram Keshari Jena, Aviral Tiwari, Shawkat Hammoudeh and Muhammad Shahbaz

Volume 43, month 07, 2020

Friends like this: The impact of the US–China trade war on global value chains pp. 1776-1791

Haiou Mao and Holger Görg

The United Kingdom and the stability of the Euro area: From Maastricht to Brexit pp. 1792-1808

Nauro Campos and Corrado Macchiarelli

The not‐so‐generalised effects of the Generalized System of Preferences pp. 1809-1840

Emanuel Ornelas and Marcos Ritel

Networks of foreign affiliates: Evidence from Japanese micro‐data pp. 1841-1867

Francesca Spinelli, Dorothée Rouzet and Hongyong Zhang

Impact of commodity prices on exchange rates in commodity‐exporting countries pp. 1868-1906

Rebeca Jiménez‐Rodríguez and Amalia Morales‐Zumaquero

Global impact of loss of confidence in Asian emerging markets pp. 1907-1927

Roshen Fernando

Coups d'état and the foreign exchange market pp. 1928-1950

Hippolyte Balima

Foreign assistance and emigration: Accounting for the role of non‐transferred aid pp. 1951-1976

Mauro Lanati and Rainer Thiele

Labour market adjustment to third‐party competition: Evidence from Mexico pp. 1977-2006

Raymond Robertson, Timothy Halliday and Sindhu Vasireddy

The nature of trade, global production fragmentation and inflationary dynamics: Cross‐country evidence pp. 2007-2031

Hülya Saygılı

Volume 43, month 06, 2020

Inter‐country distancing, globalisation and the coronavirus pandemic pp. 1484-1498

Klaus Zimmermann, Gokhan Karabulut, Mehmet Bilgin and Asli Cansin Doker

Demand shifts and willingness to pay in applied trade models pp. 1499-1520

Terrie Walmsley and Peter Minor

The role of processing trade in exporters' responses to exchange rate: Evidence from China pp. 1521-1543

Yiqing Xie and Chao Song

Unconventional economic policies and sentiment: An international assessment pp. 1544-1591

Marie‐Helene Gagnon and Céline Gimet

Exchange rate fluctuations and quality composition of exports: Evidence from Swiss product‐level data pp. 1592-1618

Dario Fauceglia

Does foreign investment benefit the exporting activities of Vietnamese firms? pp. 1619-1646

Ha Van, Mark Holmes and Gazi Hassan

Foreign direct investment and inequality: Evidence from China's policy change pp. 1647-1664

Anders Johansson and Dan Liu

How renewable energy consumption lower global CO2 emissions? Evidence from countries with different income levels pp. 1665-1698

Kangyin Dong, Xiucheng Dong and Qingzhe Jiang

The determinants of international migration: Unbundling the role of economic, political and social institutions pp. 1699-1729

Imran Arif

Thresholds of financial development in the Euro area pp. 1730-1774

Vighneswara Swamy and Munusamy Dharani

Volume 43, month 05, 2020

What makes a successful exporter? An introduction pp. 1148-1150

Davide Castellani, Joze Damijan and Crt Kostevc

Foreign sourcing and exporting pp. 1151-1187

Juan A. Mañez, María E. Rochina‐Barrachina and Juan A. Sanchis Llopis

Board of directors and export spillovers: What is the impact on extensive margins of trade? pp. 1188-1215

Hans Lööf and Ingrid Viklund‐Ros

Services trade and credit frictions: Evidence with matched bank–firm data pp. 1216-1252

Francesco Bripi, David Loschiavo and Davide Revelli

Ready to export? The role of export readiness for superior export performance of small and medium‐sized enterprises pp. 1253-1276

Stephan Gerschewski, Joanna Scott‐Kennel and Elizabeth L. Rose

Firm‐level export duration: The importance of market‐specific ownership linkages pp. 1277-1308

Crt Kostevc and Katja Zajc Kejžar

Markups, import competition and exporting pp. 1309-1326

Mauro Caselli and Stefano Schiavo

Increasing market power in Slovenia: Role of diverging trends between exporters and non‐exporters pp. 1327-1345

Joze Damijan, Jozef Konings and Aigerim Yergabulova

Quality‐cum‐price sorting pp. 1346-1370

Ina C. Jäkel and Allan Sørensen

Firms' imports and quality upgrading: Evidence from Chinese firms pp. 1371-1397

Min Zhu and Chiara Tomasi

Export quality differentiation under credit constraints pp. 1398-1433

Andrea Ciani and Francesca Bartoli

Trade shocks, product mix adjustment and productivity growth in Italian manufacturing pp. 1434-1451

Maria Gabriela Ladu, Andrea Linarello and Filippo Oropallo

Coping with the crisis and export diversification pp. 1452-1481

Kaleb Girma Abreha, Valérie Smeets and Frédéric Warzynski

Volume 43, month 04, 2020

Sicken thy neighbour: The initial trade policy response to COVID‐19 pp. 828-839

Simon J. Evenett

Key sectors in input–output production networks: An application to Brexit pp. 840-870

Raffaele Giammetti, Alberto Russo and Mauro Gallegati

Capital controls and the location of industry pp. 871-891

Magnus Wiberg

Shipping cost and development of the landlocked developing countries: Panel evidence from the common correlated effects approach pp. 892-920

Ngoc Thien Anh Pham and Nicholas Sim

Poverty and the shadow economy: The role of governmental institutions pp. 921-947

Aziz N. Berdiev, James Saunoris and Friedrich Schneider

Foreign direct investment and civil violence in Sub‐Saharan Africa pp. 948-981

Ahsan Kibria, Reza Oladi and Sherzod Akhundjanov

The interest group theory of financial development in China: Openness and the role of interest groups pp. 982-999

Chengsi Zhang and Yueteng Zhu

Firms' efficiency and global value chains: An empirical investigation on Italian industry pp. 1000-1033

Mariarosaria Agostino, Emanuele Brancati, Anna Giunta, Domenico Scalera and Francesco Trivieri

Trade configurations in Asia: Assessing de facto and de jure regionalism pp. 1034-1058

Sasidaran Gopalan, Luu Nguyen Trieu Duong and Ramkishen Rajan

Political economy of the US–Mexican tomato trade agreement pp. 1059-1075

Stephen Devadoss and Elijah Kosse

Three decades of globalisation: Which countries won, which lost? pp. 1076-1102

Bernhard Gunter and Britni Wilcher

Measuring the spatial price differences in China with regional price parity methods pp. 1103-1146

Menggen Chen, Yan Wang and D.S. Prasada Rao

Volume 43, month 03, 2020

Globalisation: Recent traits and challenges pp. 530-533

Ana Cuadros and Javier Ordóñez

Financial market development in host and source countries and their effects on bilateral foreign direct investment pp. 534-556

Julian Donaubauer, Eric Neumayer and Peter Nunnenkamp

The role of FDI in structural change: Evidence from Mexico pp. 557-585

Henning Mühlen and Octavio Escobar

Mergers and acquisitions & trade: A global value chain analysis pp. 586-614

Federico Carril‐Caccia and Elena Pavlova

Global sourcing, productivity and export intensity pp. 615-643

Roger Bandick

Trading activities, productivity and markups: Evidence for Spanish manufacturing pp. 644-680

Juan A. Mañez, Consuelo Mínguez Bosque, Maria Engracia Rochina Barrachina and Juan A. Sanchis Llopis

Trade law and trade flows pp. 681-704

Salvador Gil‐Pareja, Rafael Llorca‐Vivero and Jordi Paniagua

A computable general equilibrium analysis of Brexit: Barriers to trade and immigration restrictions pp. 705-728

Gabriela Ortiz Valverde and Maria C. Latorre

Dissecting interbank risk using basis swap spreads pp. 729-757

Juan Angel Lafuente, Nuria Petit, Jesus Ruiz and Pedro Serrano

From carry trades to curvy trades pp. 758-780

Ferdinand Dreher, Johannes Gräb and Thomas Kostka

BRICS: How important is the exchange rate pass‐through? pp. 781-793

Rebeca Jiménez‐Rodríguez and Amalia Morales‐Zumaquero

The unconventional monetary policy of the European Central Bank: Effectiveness and transmission analysis pp. 794-809

Jose A. Zabala and Maria Prats

Inter‐firm R&D collaboration within and across national borders pp. 810-826

Terence Edwards, Ben Ferrett and Daniel Gravino

Volume 43, month 02, 2020

Reassessing the foreign ownership wage premium in Germany pp. 302-325

Hartmut Egger, Elke Jahn and Stefan Kornitzky

Immigration, uncertainty and macroeconomic dynamics pp. 326-354

Michael Donadelli, Luca Gerotto, Marcella Lucchetta and Daniela Arzu

Multilateral stability and efficiency of trade agreements: A network formation approach pp. 355-370

Nathalie Jorzik and Frank Mueller‐Langer

The effects of bilateral attitudes on imports pp. 371-387

Xiaohua Bao, Qing Liu, Larry Qiu and Daming Zhu

Welfare and trade elasticity with multinational production pp. 388-411

Pamela Bombarda and Stefania Marcassa

The income inequality, financial depth and economic growth nexus in China pp. 412-427

Sharon G. M. Koh, Grace Lee and Eduard Bomhoff

Does foreign direct investment expand the capability set in the host economy? A sectoral analysis pp. 428-457

Peter Kannen

Determinants shaping the international currency system: Where do currencies stand relative to their equilibria? pp. 458-483

Mária Širaňová and Manuel Duarte Rocha

The global value chain under imperfect capital markets pp. 484-505

Jaerim Choi

Financial integration and banking crisis. A critical analysis of restrictions on capital flows pp. 506-527

John Inekwe and Maria Rebecca Valenzuela

Volume 43, month 01, 2020

Trade and foreign direct investment‐related impacts of Brexit pp. 2-32

María C. Latorre, Zoryana Olekseyuk and Hidemichi Yonezawa

Tariffs and formation of free trade agreements networks pp. 33-59

Jung Hur and Larry Qiu

Innovation responses of Japanese firms to Chinese import competition pp. 60-80

Nobuaki Yamashita and Isamu Yamauchi

How innovation impacts firms' export survival: Does export mode matter? pp. 81-113

Meihong Dai, Haiyang Liu and Lingtao Lin

Bank credit, public financial incentives, tax financial incentives and export performance during the global financial crisis pp. 114-145

Luke Okafor, Mita Bhattacharya and Nicholas Apergis

International joint ventures and technology diffusion: Evidence from China pp. 146-169

Qing Liu, Ruosi Lu and Chao Yang

Non‐equivalent pass‐through of anti‐dumping duties, countervailing duties and import tariffs pp. 170-190

Dmitri Nizovtsev and Alexandre Skiba

The macroeconomics outcome of oil shocks in the small Eurozone economies pp. 191-211

Raphael Raduzzi and Antonio Ribba

Urban development, excessive entry of firms and wage inequality in developing countries pp. 212-238

Hamid Beladi, Chi‐Chur Chao, Mong Shan Ee and Daniel Hollas

The emergence of regional business cycle in Africa—a reality or myth? A Bayesian dynamic factor model analysis pp. 239-273

Oyeyinka S. Omoshoro‐Jones and Lumengo Bonga‐Bonga

How do manufacturing exports react to the real exchange rate and foreign demand? The Chilean case pp. 274-300

Jorge Fornero, Miguel A. Fuentes D. and Andres Gatty