IDEAS home Printed from https://ideas.repec.org/p/pas/papers/2024-8.html
   My bibliography  Save this paper

The Global Trade Slowdown: Nominal or Real?

Author

Listed:
  • Prema-chandra Athukorala

Abstract

This paper revisits the contemporary debate on the deglobalization of merchandise trade using a new dataset that captures changes in the price structure of manufacturing trade associated with the decline in prices of information technology (IT) equipment. There is strong evidence that continued growth in world trade, both in absolute (value) terms and relative to GDP, has remained obscured by the frequent reliance on trade measured at current rather than constant prices. Continuing downward adjustment in the prices of manufactures trade within GVCs has significantly reshaped the price structure of global trade. When appropriately measured in real terms, there is strong evidence that world trade has regained its upward trend following the significant dip during the GFC owing to the dynamism of trade rooted in global production sharing.

Suggested Citation

  • Prema-chandra Athukorala, 2024. "The Global Trade Slowdown: Nominal or Real?," Departmental Working Papers 2024-8, The Australian National University, Arndt-Corden Department of Economics.
  • Handle: RePEc:pas:papers:2024-8
    as

    Download full text from publisher

    File URL: https://acde.crawford.anu.edu.au/sites/default/files/publication/acde_crawford_anu_edu_au/2024-08/acde_td_athukorala_2024_08.pdf
    Download Restriction: no
    ---><---

    More about this item

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F60 - International Economics - - Economic Impacts of Globalization - - - General

    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:pas:papers:2024-8. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Prema-chandra Athukorala (email available below). General contact details of provider: https://edirc.repec.org/data/asanuau.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.