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Trade is an important driver of economic growth around the world. CGD’s research focuses on how trade policies can support poverty reduction and economic growth in developing economies by promoting market access that opens the door to foreign investment and job creation.
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The Trump administration has imposed a number of entry restrictions through executive order, justifying them on national security grounds. But one additional set of concerns regards the economic costs of tightening visa restrictions, which can be considerable even when looking solely at temporary visitors. While the current bans would likely have a limited economic impact on the US through reduced tourist and business travel, the extension of restrictions could carry increasingly heavy economic costs.
We’ve spent the past year focusing on beyond aid approaches to promoting gender equality worldwide, through discussions on how to improve outcomes for women and girls in areas ranging from migration to UN peacekeeping forces. Next we’re looking at how trade agreements can help to ensure they benefit women and men equally, whether they participate in the economy as wage workers, farmers, or entrepreneurs. That might take both carrots and sticks—because, at the moment, women are all too likely to lose out.
The benefits of global trade are numerous and well-documented, but trade channels can still be made more inclusive for women entrepreneurs and wage workers. Incorporating pre-ratification conditions into the trade agreement negotiation process to remove legal barriers against women’s equal participation in the economy (and therefore equal advantages from trade), as well as instituting follow-up enforcement mechanisms, can help to ensure trade benefits women and men more equally going forward.
This paper discusses selected issues in the analysis of trade misinvoicing. It starts by examining various motives for the misdeclaration of trade activities. It is argued that the broad range of incentives to fake customs declarations provides an important challenge for the empirical assessment of the extent of trade misinvoicing. After analyzing the costs and benefits of different empirical approaches to quantifying trade misinvoicing, the accuracy and reliability of estimation results reported in the literature are reviewed. It is shown that quantitative findings are heavily dependent on the underlying assumptions in the empirical analysis, making estimation results on trade misinvoicing practices largely a matter a faith.
The UK Government has today published a white paper on its broad approach to Brexit—what ’s missing though is a commitment to developing countries on the UK’s trade policy. Having emphasised trade at the heart of its economic strategy on international development, it now needs to commit to providing “duty free quota free” access for developing countries, or risk damaging investment and trade over the next two years and beyond.
Since mid-2016, a new wave of political developments in advanced countries has been shaking Latin America. This latest assessment of the Latin American Committee on Financial Issues (CLAAF) examines how the anti-globalist movement sweeping the West will affect macroeconomic trends in Latin America.
Kudos to Finland in 2016 for ascending to the top spot in CGD’s annual Commitment to Development Index, our ranking of how a country’s policies help or hinder development. Other countries of note this year include France, New Zealand and Austria. We just published the latest rankings, and I discuss them, their implications, and the political landscape that could affect them in our latest CGD Podcast with Owen Barder, senior fellow and director of CGD Europe, which produces the Index.