How Far Has Globalization Gone? A Tale of Two Regions
IMF Working Papers, December 8, 2023
Source details
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- How Far Has Globalization Gone? A Tale of Two Regions
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Bibliographic details
- Authors: Rodolfo Campos, Samuel Pienknagura, Jacopo Timini
- Published: December 8, 2023
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9798400261190.001
Authors and publication
- By Rodolfo Campos, Samuel Pienknagura, Jacopo Timini
- December 8, 2023
- IMF Working Paper No. 2023/255
- Pages: 32
- Volume: 2023
- Issue: 255
- DOI: https://doi.org/10.5089/9798400261190.001
- Stock No: WPIEA2023255
- ISBN: 9798400261190
- ISSN: 1018-5941
Research question and approach
- Study focus:
- Evolution of trade globalization in a set of countries in Latin America (mostly the largest ones) and Asia over the past 25 years.
- Methodology:
- Rely on structural gravity models.
- Estimate a proxy of trade globalization that captures the ease of trading internationally with respect to trading domestically.
- Quantify economic implications using simulations of a multi-sector trade model.
Key empirical findings
- Regional comparison:
- The evolution of trade globalization since the mid-1990s has been similar between Latin America and Asia, but very heterogeneous within each region.
- Sectoral patterns:
- Trade globalization has been particularly strong in agriculture, mining and manufacturing.
- Trade globalization has lagged in services.
- Within-region heterogeneity:
- Heterogeneity within regions is associated with trade policy instruments, including tariffs, non-tariff measures, WTO membership, and trade agreements.
- Model simulation outcomes:
- Simulations point to heterogeneous long-term impacts of globalization on GDP—some countries exhibiting substantial gains and others experiencing large losses.
- No single sector plays a preponderant role in driving these heterogeneous GDP outcomes.
Subject areas and keywords
- Subject: Agricultural sector, Economic sectors, Globalization, International trade, Manufacturing, Tariffs, Taxes, Trade policy
- Keywords: Agricultural sector, Asia, Asia and Pacific, Caribbean, Global, Globalization, globalization process, globalization trend, IMF working paper 23/255, Latin America, Manufacturing, model point, Structural gravity, Tariffs, Trade, trade globalization, Trade policy
Availability and formats
- Formats: PDF and other formats available via IMF eLibrary.
- Options noted on page: Download PDF; More Formats on IMF eLibrary; Order a Print Copy; Create Citation.
Source: IMF Working Papers — "How Far Has Globalization Gone? A Tale of Two Regions", Rodolfo Campos, Samuel Pienknagura, Jacopo Timini, December 8, 2023.
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- Working Paper