The network origins of the gains from trade (VOX)

Much has been written about the opportunities and threats arising from the international fragmentation of production processes. This column introduces a novel theoretical approach to track down the different, sometimes conflicting, ways in which shocks spread through global value chains. It suggests that what matters most is not a country’s access to the technologies and markets of its direct trading partners, but its exposure to changes in the larger production network.

https://voxeu.org/article/network-origins-gains-trade

Maarten Bosker, Bastian Westbrock

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