A changing global economy

Emile van Ommeren

Chapter Chapter 2 in Pro Trade, Against Competition, 2025, pp 18-40 from Edward Elgar Publishing

Abstract: Chapter 2 (‘A changing global economy’) presents the conventional wisdom on who benefits and who loses from trade policy, which actors have the most influence in the decision-making process, and how these political dynamics are affected by three different types of international trade: comparative advantage-based trade, intra-industry trade (IIT), and trade in global value chains (GVCs). In this regard, I notice that scholars generally agree that powerful companies, over the past decades, have become less likely to lobby for trade protection due to the emergence IIT and trade in GVCs. Yet, I show that many protectionist measures were surprisingly advocated by multinational companies, which confronts the trade policy literature with a major puzzle. Moreover, I demonstrate that existing approaches cannot offer a comprehensive account for empirical patterns observed.

Keywords: Globalization; Intra-industry trade; Global value chains; Intra-firm trade; Political mobilization; Trade restrictions (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035350216
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