The great trade collapse of 2020 and the amplification role of global value chains

Simone Cigna and Lucia Quaglietti

Economic Bulletin Boxes, 2020, vol. 5

Abstract: The world economy is facing an unprecedented shock, and as the impact of the pandemic unfolds, world trade will be hit particularly hard. Global value chain linkages are likely to magnify the impact. This box assesses the effects of disruptions associated with the COVID-19 pandemic and provides estimates of the impact on world trade. We find that GVC spillovers could significantly amplify the decline in world trade. JEL Classification: F31, F41, F60

Keywords: Covid-19; Global value chains; World Trade (search for similar items in EconPapers)
Date: 2020-07
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbbox:2020:0005:2

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