Work

Deconstructing Deglobalization: The Future of Trade is in Intermediate Services

Year: 2023

Type: article

Abstract: This article contests the idea that the world has entered a post‐globalization era. It argues that rapid globalization has evolved rather than ended. Even though the global goods trade‐to‐GDP ratio reached its zenith 15 years ago, the rapid rise of services trade has persisted and now accounts for one‐fifth of international commerce. The paper makes a statistical and logical case that the future of trade lies in services trade—especially trade in intermediate services.

Source: Asian Economic Policy Review

DOI: 10.1111/aepr.12440

Authors: Richard Baldwin, Rebecca Freeman, Angelos Theodorakopoulos

Institutions: Center for Economic and Policy Research, Bank of England, London School of Economics and Political Science, Aston University

Language: English

Topic: Global trade and economics

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: hybrid

Estimated APC paid: $2,580

Funder: Economic and Social Research Council