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Fragmentation in Global Trade: Accounting for Commodities

Author

Listed:
  • Marijn A. Bolhuis
  • Mr. Jiaqian Chen
  • Benjamin R Kett

Abstract

We construct a new database which covers production and trade in 136 primary commodities and 24 manufacturing and service sectors for 145 countries. Using this new more granular data, we estimate spillover effects from plausible trade fragmentation scenarios in a new multi-country, multi-sector, general-equilibrium model that accounts for unique demand and supply characteristics of commodities. The results show fragmentation-induced output losses can be sizable, especially for Low-Income-Countries, although the magnitudes vary according to the particular scenarios and modelling assumptions. Our work demonstrates that not accounting for granular commodity production and trade linkages leads to underestimation of the output losses associated with trade fragmentation.

Suggested Citation

  • Marijn A. Bolhuis & Mr. Jiaqian Chen & Benjamin R Kett, 2023. "Fragmentation in Global Trade: Accounting for Commodities," IMF Working Papers 2023/073, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2023/073
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    Citations

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    Cited by:

    1. Norring, Anni, 2024. "The economic effects of geoeconomic fragmentation," BOFIT Policy Briefs 8/2024, Bank of Finland Institute for Emerging Economies (BOFIT).
    2. Jésus Fernández-Villaverde & Tomohide Mineyama & Dongho Song & Jesús Fernández-Villaverde, 2024. "Are We Fragmented Yet? Measuring Geopolitical Fragmentation and Its Causal Effects," CESifo Working Paper Series 11192, CESifo.
    3. Norring, Anni, 2024. "Geoeconomic fragmentation, globalization, and multilateralism," BoF Economics Review 2/2024, Bank of Finland.
    4. Aiyar, Shekhar & Ohnsorge, Franziska, 2024. "Geoeconomic Fragmentation and "Connector" Countries," MPRA Paper 121726, University Library of Munich, Germany.

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