Deep Trade Agreements and Firm Ownership in GVCs

Peter Egger and Gerard Masllorens

No 10321, Policy Research Working Paper Series from The World Bank

Abstract: This paper focuses on the effect of preferential trade agreements and their depth on firm ownership, in particular, along global value chains. It measures shareholder-affiliate ownership links at the country-sector-pair level to discern between vertical and horizontal links. The findings show that preferential trade agreements boost vertical international investment links (both backward and forward) while reducing horizontal investment. Deep preferential trade agreements stimulate investment particularly for sector pairs, where a high input specificity prevails.

Date: 2023-02-27
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Related works:
Journal Article: Deep Trade Agreements and Firm Ownership in GVCs (2024)
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