Trade, policy, and food security (original) (raw)
Related papers
Global Value Chains After the COVID-19 Crisis
2021
Global Trade and Innovation Policy Alliance 1 Authors Hubertus Bardt, German Economic Institute (IW), Germany, bardt@iwkoeln.de Stephen Ezell, Information Technology and Innovation Foundation, USA, sezell@itif.org Tomas Flores, Libertad y Desarrollo, Chile, tflores@lyd.org Natalia González, Libertad y Dessarollo, Chile, ngonzalez@lyd.org Chris Hattingh, Free Market Foundation, South Africa, chrishattingh@fmfsa.org Sean Randolph, Bay Area Council Economic Institute, USA, sean@bayareacouncil.org Giacomo Bandini, Competere, Italy, gbandini@competere.eu
COVID-19 and International Trade: Examining the Pandemic's Impact on Globalization
American Journal of Humanities and Social Sciences Research (AJHSSR), 2023
The COVID-19 pandemic has had a profound impact on the global economy and has significantly disrupted international trade. This paper aims to examine the ways in which the pandemic has affected globalization and the international trade system. The study includes an analysis of the impacts of COVID-19 on trade flows, international supply chains, and the functioning of global value chains. The paper also explores the measures taken by governments to support international trade and assesses the effectiveness of these measures. Additionally, the study provides insights into the potential long-term effects of the pandemic on globalization and international trade. The findings of this research contribute to a better understanding of the COVID-19 pandemic's impact on international trade and inform policymakers, businesses, and researchers about the challenges and opportunities that lie ahead.
World Bank: Rural Development (Topic), 2020
This paper analyzes the impact of Covid-19 and uncooperative trade policies on world food markets. It quantifies the initial shock due to the pandemic under the assumption that products that are more labor intensive in production are more affected through workers' morbidity and containment policies. It then estimates how escalating export restrictions to shield domestic food markets could magnify the initial shock. The analysis shows that, in the quarter following the outbreak of the pandemic, the global export supply of food could decrease between 6 and 20 percent and global prices increase between 2 and 6 percent on average. Escalating export restrictions would multiply the initial shock by a factor of 3, with world food prices rising by up to 18 percent on average. Import food dependent countries, which are in large majority developing and least developed countries, would be most affected.
Disruptions in global value chains due to COVID-19: stylized facts and policy lessons
The Philippine Review of Economics, 2021
This paper provides an early assessment of global value chains (GVCs) amid the disruptive effects of COVID-19 on world trade. Using the Asian Development Bank’s updated Multiregional Input-Output Table, key indicators were estimated to identify important stylized facts about the contraction of GVC activities in 2020. Econometric models were also estimated to analyze the disruptive effect of COVID-19 outbreaks and stringent containment measures on GVC trade. The input-output analysis confirms that all major economic sectors suffered large losses, especially services. However, the bulk of the decline in overall GVC trade can still be traced to lower backward transactions in manufacturing. On the aggregate level, stronger backward GVC participation was associated with relatively milder contraction while the opposite was observed for forward participation. The regressions showed that positive growth of GVC trade was less likely in sectors with relatively larger exposure to foreign downs...
COVID-19 AND GLOBAL VALUE CHAINS: A REVIEW OF EMERGING LITERATURE
The Covid-19 pandemic has had an unprecedented impact on the world by accounting for more than 100 million cases and over two million lost lives, while also hitting the economies very hard by leading disruptions in production chains and international trade, rising unemployment rates and substantial contractions in GDPs. A review of recent literatures reveals that global value chains has played a central role on transmitting and amplifying the devastating global economic impacts of the Covid-19 pandemic. Considering the shocking experience of the Covid-19 pandemic that manifests the necessity of achieving robustness and resilience of supply chains, together with the ongoing trade tensions; it is likely that global value chains in a post-pandemic world will be subject to a reconfiguration in terms of renationalization, regionalization and supplier diversification.
Economic and Social Effects of the COVID-19 Pandemic and the Future of Global Value Chains
Economic and Social Upgrading in Global Value Chains, 2022
The COVID-19 crisis is unique in many respects and, as the IMF (2021, p. 43) puts it: "a crisis like no other". A global economic contraction occurred that was unprecedented in its speed and depth. Support packages were put together in some parts of the world that also dwarfed anything seen up to that point. Also, the massive differences in how countries, sectors and people were affected by the crisis is unusual in many respects. What is already visible is that national government policies are playing a significant role during the pandemic and its impact on social groups. In this comment, we will briefly assess the impacts of the COVID-19 pandemic up to now (July 2021) and discuss possible future trends for the reorganization of global value chains (GVCs). First, we will give an overview of the pandemic's economic and social effects as well as various policy responses by governments and international organizations. Second, we will discuss the effects of the pandemic on GVCs as well as different scenarios of further restructuring dynamics in GVCs. To conclude, we will argue that although the COVID-19 pandemic might not fundamentally alter the current globalization model, it could serve as a catalyst for already ongoing changes.
International Trade in the Context of the COVID-19 Pandemic
Igi-global, 2021
This chapter overviews the relationship between international trade and the WTO law, international trade strategy, as well as labour standards, human rights, and the public health in the context of the COVID-19 pandemic crisis. It is stated that the most effective way to overcome the crisis is timely and effective information-sharing since informed community can make better decisions on trade issues. The urgency of effective measures and implementation of new WTO regulations are believed to be vital for providing fair trade in the present circumstances. The right trade policies would not only revive the trade and recover the time lost to the crisis but would also shift toward a more sustainable and inclusive future. The author claims that, in view of the pandemic, the efforts of policymakers and business leaders to find ways to achieve trade balance should imply greater coherency between trade, labour standards, public health, and human rights objectives.
The role of global value chains in the impact of the Covid-19 pandemic on the world economy
2020
The biggest problem that this health crisis has presented is the strong impact it has had on the world economy. As never before, another phenomenon, the COVID-19 pandemic, has come to put world trade at serious risk. This article aims to expose that. The magnitude of the health crisis is a consequence of the development of the current economic growth model and the role that Global Value Chains, as a fundamental part of the structure of the economic growth model, have had on the impact that this health crisis has had on the worldwide economy. Neoliberalism, Covid-19 pandemic, Global Value Chains Resumen El mayor problema que esta crisis sanitaria ha presentado es el fuerte impacto que ha tenido sobre la economía mundial. Como nunca antes otro fenómeno, la pandemia por COVID-19, ha llegado a poner en grave riesgo el comercio mundial. Este artículo pretende, exponer que la magnitud de la crisis sanitaria es consecuencia del desarrollo del modelo de crecimiento económico actual y el pap...
Export Restrictions During the Food Crisis and Covid-19 Pandemic
2020
Although export restriction was applied since the 1920s-30s and is regulated under WTO laws, scholars and lawyers alike have labelled it as an “under-regulated” or “legally-deficient” issue to date. This paper examines this issue by analyzing key provisions – applicable to the world food 2007-08 and Covid-19 pandemic crises – particularly Articles XI and XX of GATT1994 and Article 12 of Agreement on Agriculture 1995. The finding revealed that export restriction, irrespective of its legal status, may be justifiably applied by Members if it satisfies such exemptions or exceptions as, inter alia, temporary application for preventing or relieving critical shortage, necessity for human health or life protection, exhaustible natural resource preservation, and essentialness to acquisition or distribution in short supply. However, key legal concepts such as necessity, preventing or relieving, critical shortage, essentialness, exhaustible natural resources, and short supply remain undefined in WTO laws, thus posing many legal questions on the measures’ legitimacy during the two crises. Moreover, the transparency objective in such measures remains remote from its expected success since related provisions lack operational substance and enforcement mechanisms. Reforms have been proposed at WTO since 2008 to limit the Members’ ability to adopt such measures and promote more transparency, yet they failed to earn agreement. The paper suggests three policy reforms: developing more specifics in controversial legal terms in separate protocols or side agreements, considering inverse-exception in extraordinarily challenging circumstances, and regulating the hidden culprit – export tax. Keywords: Export restrictions or prohibitions, WTO, GATT 1994, and Agreement on Agriculture 1994
Sustaining Trade during COVID-19 Pandemic: Establishing a Conceptual Model Including COVID-19 Impact
Sustainability
The conceptual research aims to identify antecedents conducive to bilateral trade during the COVID-19 pandemic. Considering the relevance of bilateral trade for foreign policy and economy studies, there is a need for a renewed framework in times of extreme economic instability. As international commerce is essential for improving the country’s economy, we have examined how economic distance, population, trade percentage of GDP, exchange rate, and political changes interconnect and relate to COVID-19, influencing trade flows. This conceptual paper illustrates the likely impact of COVID-19 on international trade by exploring pandemics’ effects on standard trading parameters such as GDP, distance, policy stability, and population. We model the resulting shock as a multifaceted variable reflected in capital underutilization, manufacturing output decline, international trade costs inflation, production costs inflation, decrease in demand for certain services and shift from everyday needs...