Preferential Trade Agreements and Global Value Chains [electronic resource] : Theory, Evidence, and Open Questions / Michele Ruta.
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TextPublication details: Washington, D.C. : The World Bank, 2017Description: 1 online resource (25 p.)Subject(s): Deep And Shallow Trade Agreements | Global Value ChainsAdditional physical formats: Ruta, Michele: Preferential Trade Agreements and Global Value Chains: Theory, Evidence, and Open QuestionsOnline resources: Click here to access online Abstract: Preferential trade agreements today are more numerous and deeper than they were a quarter century ago. Do deep agreements promote countries' integration into global value chains? What are the economic mechanisms? How do countries choose their trade agreement partners? Would the undoing of deep agreements disrupt global value chains? What is the outlook for trade agreements and global value chains going forward? This paper reviews the small but growing literature on the role of deep agreements as the institutional underpinnings of global value chains. It discusses the available evidence and theoretical arguments, providing directions for future research in this area.
Preferential trade agreements today are more numerous and deeper than they were a quarter century ago. Do deep agreements promote countries' integration into global value chains? What are the economic mechanisms? How do countries choose their trade agreement partners? Would the undoing of deep agreements disrupt global value chains? What is the outlook for trade agreements and global value chains going forward? This paper reviews the small but growing literature on the role of deep agreements as the institutional underpinnings of global value chains. It discusses the available evidence and theoretical arguments, providing directions for future research in this area.
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