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International trade and investment are key channels for closer economic integration and better material living standards. Empirical work has examined these links. Other work relates to the analysis and assessment of world trade and trade and payments relationships between the OECD and the rest of the world.
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29-Oct-2009
The collapse in world trade volumes at the end of 2008 and beginning of 2009 was exceptional by historical standards. This paper shows that world demand (to which trade has become more responsive in recent decades) can explain most of the collapse in world trade, but that tight credit conditions have likely amplified the short-term trade response.
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