IDEAS home Printed from https://ideas.repec.org/p/zbw/wtowps/ersd202211.html
   My bibliography  Save this paper

The future of global value chains and the role of the WTO

Author

Listed:
  • Dadush, Uri

Abstract

Disruptions to global value chains (GVCs) - caused by conflicts, natural disasters, and accidents that close transport routes - and that affect specific regions or sectors, are not unusual. However, in recent years and amid the Covid-19 pandemic, they have become more frequent and severe. High profile, sizeable, and repeated disruptions raise pressing questions: Is the breakdown in many GVCs a temporary glitch, or a permanent phenomenon? Have GVCs become endemically more accident prone, and why? And if so, are firms going to rely less on them? If a sustained withdrawal from GVCs occurs, how will business models be reshaped, and what will be the consequences for growth and inflation? How will the global trading system be affected? In short, policymakers want to know, what is the future of GVCs? Persistent and severe GVC disruption is a recent phenomenon and hard data needed to analyze its consequences on trade and investment flows are still scarce. Given the available evidence, which is mainly conceptual and anecdotal, and the reigning uncertainty, the note suggests some pointers on how GVCs might evolve and how the WTO could respond.

Suggested Citation

  • Dadush, Uri, 2022. "The future of global value chains and the role of the WTO," WTO Staff Working Papers ERSD-2022-11, World Trade Organization (WTO), Economic Research and Statistics Division.
    • Handle: RePEc:zbw:wtowps:ersd202211
    DOI: 10.30875/25189808-2022-11
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/263141/1/1814405399.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.30875/25189808-2022-11?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Gary Clyde Hufbauer & Megan Hogan & Yilin Wang, 2022. "For inflation relief, the United States should look to trade liberalization," Policy Briefs PB22-4, Peterson Institute for International Economics.
    2. Uri Dadush, 2022. "Is the post-war trading system ending?," Policy Contributions 47269, Bruegel.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Norring, Anni, 2024. "Geoeconomic fragmentation, globalization, and multilateralism," BoF Economics Review 2/2024, Bank of Finland.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Marek Dabrowski, 2024. "The Risk of Protectionism: What Can Be Lost?," JRFM, MDPI, vol. 17(8), pages 1-24, August.
    2. Giuseppe Celi & Dario Guarascio & Jelena Reljic & Annamaria Simonazzi & Francesco Zezza, 2022. "The Asymmetric Impact of War: Resilience, Vulnerability and Implications for EU Policy," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 57(3), pages 141-147, May.
    3. Comisión Nacional de los Mercados y la Competencia (CNMC), 2023. "Guide. Competition against inflation: How competition and efficient regulation help protect the purchasing power of consumers," Colección Estudios de Mercado G-2022-02_ENG, Comisión Nacional de los Mercados y la Competencia (CNMC).
    4. Dario Guarascio & Jelena Reljic & Giacomo Cucignatto & Giuseppe Celi & Annamaria Simonazzi, 2023. "Between a rock and a hard place. Long-term drivers of EU structural vulnerability," Working Papers in Public Economics 237, Department of Economics and Law, Sapienza University of Roma.
    5. Maurice Obstfeld, 2022. "Global Economic Recovery in the Face of COVID-19," Chapters, in: Lili Yan Ing & Dani Rodrik (ed.), New Normal, New Technologies, New Financing, chapter 3, pages 22-37, Economic Research Institute for ASEAN and East Asia (ERIA).

    More about this item

    Keywords

    global value chains; supply chain resilience; reshoring; WTO; globalization;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:wtowps:ersd202211. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/wtoerch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.