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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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In India, the price of onions is an election issue, so ubiquitous are they in the nation’s cooking. Regularly, around the world, poor consumers face extra hardship as the prices of basic foodstuffs seesaw. Global food security is an area CGD has worked on for many years, and back in mid-2008, we tried to help figure out a solution to the skyrocketing price of a major staple.
The world will struggle to achieve the goals of ending extreme poverty and hunger by 2030 unless there is a sharp increase in agricultural productivity in Africa. Across sub-Saharan Africa, most people live in rural areas and rely on agriculture for their livelihoods; most of them are poor and many are hungry. Could genetically modified organisms (GMOs) help to address some of the causes contributing to Africa’s lagging agricultural productivity? Our answer is a qualified maybe.
There is no question that the “mega-regional” trade deals in the Pacific and across the Atlantic are big. If completed and implemented, they will cover a large portion of global trade and investment. This paper examines the TPP text to identify provisions that are more or less development-friendly, especially for Vietnam, which is the poorest signatory to the deal by far. It concludes with with recommendations for US and EU policymakers that would mitigate potential negative effects for developing countries and for the multilateral trading system, including rules of origin that minimize trade diversion.
There has been an unfortunate tendency in this year’s US presidential campaign to make trade policy an “us against them” story. It is true that the US government does not do enough to compensate those who lose from trade, or to help individuals and industries adjust to the changes that more open markets bring. But rhetoric pitting poor people in the United States against even poorer people elsewhere helps neither.
The Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership, if completed and implemented, will cover a large portion of global trade and investment, but they will exclude the majority of developing countries. American and European negotiators also want these deals to be “gold standard” agreements that establish the new rules of trade for a new century. The biggest concern arising from these mega-regional agreements is that they will undermine the rules-based multilateral trading system.