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Globalization And Trade Flows: What You See Is Not What You Get!

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Executive Summary

The trade collapse that followed the recent financial crisis has led to a renewed interest on the measurement issues affecting international merchandise trade statistics in the new globalized economy. The international fragmentation of industrial production blurs the concept of country of origin and calls for the production of new statistics on the domestic content of exports, with a view of estimating trade in value added. This paper discusses the various issues related to the concepts of "Goods for processing" and "Intra-firm trade" in trade statistics, and provides an overview of the method of analyzing the impact of the fragmentation of production in international value chains.

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