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The New Globalisation: SMEs and International Trade – The Supply Chain is as Important as Direct Exports
The disproportionately small share of exports from Small and Medium Enterprises (SMEs) is a cause of concern in modern trade policy. For developed...
Prosperity and Resilience: Diverse Production and Comparative Advantage in Modern Economies
A common version of trade theory suggests that countries will specialise in a limited number of products. Using the example of David Ricardo from...
Services Trade Needs to be Taken as Seriously as Goods Trade
Services constitute at least a quarter of total trade. Between 2009 and 2019 global services trade increased by nearly 50%, compared to 18% for goods...
Free Trade Agreements Have Limited Impact (Because Manufactured Goods are a Perfect Market)
Free Trade Agreements between two or more countries or parties have been the centrepiece of international trade policy since the formation of the...
Regulating the Globalisation of Data: Which Model Works Best?
Novel flows that define the future of globalisation require new regulatory approaches, which are likely to differ between countries. So too for...
What is Wrong with the German Economy? The Case for Openness to Technology and Human Capital
Advanced economies like Germany need to focus more on attracting foreign high-skilled labour and become better at importing foreign technology and...
No, China Does Not Make Everything!
China is now the world’s leading manufacturer, with goods exports rising from $63 billion in 1990 to $2.5 trillion in 2018. The popular assumption...
Digital Futures for Europe
By Meelis Kitsing, Professor and Rector, Estonian Business School. There isn’t one model for success in the digital future; there are...
Covid-19 and the Danger of Self-sufficiency: How Europe’s Pandemic Resilience was Helped by an Open Economy
During the Covid-19 pandemic, Europe has benefitted strongly from being an open economy that can access goods and services from other parts of the...
Global Trade Today is Global Value Chains
In the last 25 years global value chains have come to dominate global trade in a way surprisingly little discussed or understood. To meet the policy...