Assessing the Extent of Trade Fragmentation

Justin Pierce and David Yu

No 2023-11-03, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Globalization increased steadily for decades following the end of World War II, with trade as a percentage of global GDP rising from 20 percent in the early post-war period to nearly 60 percent just before the Global Financial Crisis (GFC) (Aiyar et al., 2023). Since the GFC, however, this move toward globalization has stalled, and recent events—U.S.-China trade tensions, the Covid-19 pandemic, and the Russian invasion of Ukraine—have raised the prospect of a reversal.

Date: 2023-11-03
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2023-11-03

DOI: 10.17016/2380-7172.3387

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