Can Vertical Specialization Explain the Growth of World Trade?

By Kei-Mu Yi. Journal of Political Economy, 2003

1,441 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/aa63e943b43edfc2a7b38994532ce8365bcde439

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Citations in the corpus

Nonparametric Counterfactual Predictions in Neoclassical Models of International Trade (2017, background): “An old idea in general equilibrium theory is that it is often simpler to analyze the competitive equilibrium of a neoclassical model with production by studying instead a fictitious endowment economy in which consumers directly exchange factor services: see, e.g., Taylor (1938); Rader (1972); and Ma”
Fragmentation and parts and components trade: Comparison between East Asia and Europe (2007, background): “6 For the concept of magnification effect, see Yi (2003) .”
Import Demand Elasticities and Trade Distortions (2004, neutral): “In a world where a significant share of growth in world trade is explained by vertical specialization (Yi, 2003), the fact that imports are treated as inputs into the GDP function — rather than as final consumption goods as in most of the previous literature — seems an attractive feature of this…”
Accounting for the growth of MNC-based trade using a structural model of U.S. MNCs (2006, neutral): “As Yi (2001) points out, while most observers attribute the rapid growth of world trade since the early 1960s primarily to trade liberalization, standard trade models have difficulty explaining the data based on observed tariff reductions.”
DOES OFFSHORING PAY? FIRM‐LEVEL EVIDENCE FROM JAPAN (2010, neutral): “The rise in offshoring, or contracting out of business activities to foreign providers, has been an important factor behind the growth in world trade (Yeats, 1998; Yi, 2003).”
Unexceptional exporter performance in China? The role of processing trade (2016, neutral): “…theory and empirical, have studied vertical specialization and supply chains (Feenstra and Hanson,1996; Hummels et al.,1998; Hummels et al.,2001; Yi ,2003; Feenstra and Hanson, 2005; Hanson et al.,2005; Grossman and Rossi-Hansberg,2008; Costinot et al.,2011; Johnson and Noguera,2011, etc.),…”
Solving the Elasticity Puzzle in International Economics (2003, background): “As shown in Yi (2003), these models need elasticities of 12 or 13 to generate the large growth in trade found in the data.”
Functional specialisation in trade (2018, background): “It was pointed out that increased interdependence of countries had major implications for trade policy, for example, through cascading effects of import tariffs and other types of trade protection (Yi, 2003) as well as regulatory policy such as labour standards (Feenstra, 1998).”
Globalisation: the great unbundling(s) (2006, background): “24 The second unbundling has been extensively documented at the level of intermediate goods with Yi (2003) being the classic reference.”
Trade Diversification, Income, and Growth: What Do We Know? (2013, neutral): “As evidence in Hummels et al. (2001), Yi (2003) or Strauss-Kahn (2004) the share of imported inputs in production has increase drastically over the past 30 years (e.g., Hummels et al. finds an increase of 40% between 1970 and 1995).”