Pandemic Trade : Covid-19, Remote Work and Global Value Chains
This paper studies the trade effects of Covid-19 using monthly disaggregated trade data for 28 countries and multiple trading partners from the beginning of the pandemic to June 2020. Regression results based on a sector-level gravity model show th...
| Main Authors: | , , , , |
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| Format: | Working Paper |
| Language: | English |
| Published: |
World Bank, Washington, DC
2021
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/843301610630752625/Pandemic-Trade-Covid-19-Remote-Work-and-Global-Value-Chains http://hdl.handle.net/10986/35023 |
| Summary: | This paper studies the trade effects of
Covid-19 using monthly disaggregated trade data for 28
countries and multiple trading partners from the beginning
of the pandemic to June 2020. Regression results based on a
sector-level gravity model show that the negative trade
effects induced by Covid-19 shocks varied widely across
sectors. Sectors more amenable to remote work contracted
less throughout the pandemic. Importantly, participation in
global value chains increased traders’ vulnerability to
shocks suffered by trading partners, but it also reduced
their vulnerability to domestic shocks. |
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