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Launching Export Accelerations in Latin America and the World
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ISBN: 1475585640 9781475585643 1475585500 9781475585506 Year: 2017 Publisher: Washington, D.C. International Monetary Fund

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Abstract

This paper investigates the determinants of sustained accelerations in goods and services exports. Strong predictors of export takeoffs include domestic and structural indicators such as lower macroeconomic uncertainty, improved quality of institutions, a depreciated exchange rate, and agricultural reforms. Lower tariffs, participation in global value chains and diversification also contribute to initiating export accelerations. The paper also finds heterogeneity, with somewhat different triggers for Latin America and the Caribbean, as well as for goods and services. Finally, despite the lack of a robust effect on output, export surges tend to be associated with lower post-acceleration unemployment and income inequality.


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The Impact of Trade Agreements in Latin America using the Synthetic Control Method
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ISBN: 1475585721 9781475585728 Year: 2017 Publisher: Washington, D.C. : International Monetary Fund,

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The paper employs synthetic control method (SCM) to determine the impact of trade agreements for 64 Latin American country pairs in the period 1989-1996. The results suggest that trade agreements have markedly boosted exports in Latin America, on an average by 76.4 percentage points over ten years. However, there is variation across countries and agreements. The export gains due to trade agreements are lower than the world average comprising 104 country pairs in the period 1983-1995.


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World trade in services
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ISSN: 10185941 ISBN: 1475590172 9781475590173 1475589883 9781475589887 Year: 2017 Publisher: Washington, District of Columbia [Washington, D.C.]

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Using a newly constructed dataset on trade in services for 192 countries from 1970 to 2014, this paper shows that services currently constitute one-fourth of world trade and an increasingly important component of global production. A detailed analysis of patterns and stylized facts reveals that exports of services are not only gaining strong momentum and catching up with exports of goods in many countries, but they could also trigger a new wave of trade globalization. Research applications of the trade in service dataset on structural transformation, resilience, labor reallocation, and income distribution are outlined.


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Price and income elasticity of Indian exports
Authors: --- ---
ISBN: 1513508741 1513597205 1513548670 9781513508740 9781513597201 9781513548678 Year: 2015 Publisher: [Washington, D.C.] International Monetary Fund

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This paper estimates the short-term and long-run price and income elasticity of Indian exports, and investigates the role of supply-side bottlenecks in shaping India’s export demand relationship. We use disaggregated export volume data for 45 Indian industries over the period 1990-2013, as well as industry-specific international relative prices, for estimation. Our results indicate that Indian exports are sensitive to international relative-price competitiveness, world demand, and energy shortages. In addition, binding supply-side constraints (notably energy shortages) dampen price responsiveness in the short-term.

Promoting growth in Sub-Saharan Africa
Authors: --- --- ---
ISBN: 1557759669 9781451935011 1451935013 9781557759665 1462382533 1451983522 Year: 2000 Publisher: Washington, D.C.

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Africa is the world’s poorest continent, but amid all the bad news, there is hope for change. This pamphlet examines the lessons to be learned from some of the more successful economies south of the Sahara, and discusses a policy framework to promote sustainable economic growth and reduce poverty across the region.


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Assessing the Fragility of Global Trade : The Impact of Localized Supply Shocks Using Network Analysis
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ISSN: 10185941 ISBN: 1475584156 9781475584158 1475578512 9781475578515 Year: 2017 Publisher: Washington, D.C. : International Monetary Fund,

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Anecdotal evidence suggests the existence of specific choke points in the global trade network revealed especially after natural disasters (e.g. hard drive components and Thailand flooding, Japanese auto components post-Fukushima, etc.). Using a highly disaggregated international trade database we assess the spillover effects of supply shocks from the import of specific goods. Our goal is to identify inherent vulnerabilities arising from the composition of a country’s import basket and to propose effective mitigation policies. First, using network analysis tools we develop a methodology for evaluating and ranking the supply fragility of individual traded goods. Next, we create a country-level measure to determine each country’s supply shock vulnerability based on the composition of their individual import baskets. This measure evaluates the potential negative supply shock spillovers from the import of each good.

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