Measuring trade in value added in the new industrial economy: statistical implications

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Measuring trade in value added in the new industrial economy: statistical implications

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Escaith, Hubert

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Hubert Escaith

Abstract

Vertical integration of production processes at international level and the resulting fragmentation of the value chains increasingly question the relevance of traditional trade indicators. Intermediate productions are increasingly offshored within these global value chains, giving place to what is known as "trade in tasks". The paper presents some experiences of alternative measures of international trade in terms of the value added generated by this process. The strength with which the concept of value added has imposed itself as the yardstick for the measurement of international trade has very fruitful analytical implications in the context of national accounts. A second part shows how the international statistical system has responded to the obvious risk of obsolescence by launching a series of joint initiatives in order to adapt all the instruments of the statistician’s “tool-box”: classifications, balance of payments and national accounts manuals. Conclusions highlight the remaining challenges, as well as the divergences that persist among the groups of experts in relation to the proposed reforms and their normative and practical impacts.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 14454.

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Date of creation: Jun 2008
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Handle: RePEc:pra:mprapa:14454

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Find related papers by JEL classification:
O24 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth

This paper has been announced in the following NEP Reports:

NEP-ACC-2009-04-13 (Accounting & Auditing)
NEP-ALL-2009-04-13 (All new papers)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Robert E. Lipsey, 2008. "Measuring the Location of Production in a World of Intangible Productive Assets, FDI, and Intrafirm Trade," NBER Working Papers 14121, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Hummels, David & Ishii, Jun & Yi, Kei-Mu, 2001. "The nature and growth of vertical specialization in world trade," Journal of International Economics, Elsevier, vol. 54(1), pages 75-96, June. [Downloadable!] (restricted)
Other versions:
- David Hummels & Jun Ishii & Kei-Mu Yi, 1999. "The nature and growth of vertical specialization in world trade," Staff Reports 72, Federal Reserve Bank of New York. [Downloadable!]
Brian Wixted & Norihiko Yamano & Colin Webb, 2006. "Input-Output Analysis in an Increasingly Globalised World: Applications of OECD’s Harmonised International Tables," OECD Science, Technology and Industry Working Papers 2006/7, OECD, Directorate for Science, Technology and Industry. [Downloadable!]

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Escaith, Hubert, 2009. "Trade Collapse, Trade Relapse and Global Production Networks: Supply Chains in the Great Recession," MPRA Paper 18274, University Library of Munich, Germany. [Downloadable!]
Escaith, Hubert, 2009. "Trade Collapse, Trade Relapse and Global Production Networks: Supply Chains in the Great Recession," MPRA Paper 18433, University Library of Munich, Germany. [Downloadable!]

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