Review of the Role of Trade in the Work of the Fund.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Strategy, Policy, & Review Department.

Series:

Policy Papers; Policy Paper ; No. 2023/013

Policy Papers

Language:

English

Subjects (All):

Trade regulation.

Monetary policy.

Physical Description:

1 online resource (98 pages).

Place of Publication:

Washington, D.C. : International Monetary Fund, 2023.

Summary:

This paper outlines key changes in the global trade landscape in recent years, reviews the role of the Fund in this area, and outlines a trade strategy for the Fund going forward. The analysis points to three key messages. First, while trade has been resilient vis-à-vis recent global shocks, the deteriorating trade policy environment poses risks to the current levels of prosperity. Second, the Fund has responded quickly to key trade developments in its multilateral surveillance, but attention to trade policy has declined pointing to the need of improved expertise. Third, a reinvigorated trade strategy for the Fund would help country authorities to address key challenges, including adjusting to structural changes associated with climate change and new technologies; promoting policy coherence between trade and non-trade objectives such as climate, inequality, and security; and managing rising geopolitical tensions and risks of geo-economic fragmentation.

Contents:

Glossary

INTRODUCTION

THE CHANGING TRADE AND TRADE POLICY LANDSCAPE

A. Changing trade landscape

B. Trade Policy

MODALITIES OF FUND WORK ON TRADE

A. Methodology

B. Review of Multilateral Surveillance and Research

C. Review of Country Coverage

FUTURE AGENDA AND PRIORITIES

A. Emerging Challenges in Global Trade

B. Reinvigorating Fund Work on Trade to Meet Current Challenges

ISSUES FOR DISCUSSION

BOXES

1. Past Recommendations and Actions Taken

2. COVID-19 and Trade

3. US-China Trade War

4. Trade and Essential Goods-Food and Medical Products

5. Select Management Engagements and Research on Trade

6. Trade, Worker Dislocation, and Policies to Share the Trade Gains More Widely

7. Currency Issues in Trade

8. The Macroeconomic Consequences of Geo-Economic Fragmentation

9. Cooperation with the WTO and Other International Organizations (IOs)

FIGURES

1. Global Trade (Imports + Exports) Values (Trillion USD)

2. Global Trade (Imports + Exports) Values (Percent of World GDP)

3. China's Participation in Global Value Chains (GVCs)-Ratio of Immediate Imports of Goods

4. Contribution to Global Goods Exports

5. Contribution to Global Services Exports

6. Global Goods Exports by Origin-Destination

7. Intraregional Goods Trade

8. Average Applied MFN Tariffs

9. Number of NTM Notifications per Year

10. Number of New Trade Restrictive Measures

11. Tariff-Equivalent Services Trade

12. New Trade Distorting Subsidies

13. Agricultural Producer Subsidies

14. Contribution of Trade to World Uncertainty Index

15. Deepening of RTAs Over Time

16. Textual Analysis of Trade and Trade Policy in Multilateral Surveillance

17. Textual Analysis of Trade and Trade Policy in Flagship Products

18. External Reviewers' Assessment

19. Textual Analysis of BOP, Trade, and Trade Policy Issues in Bilateral Surveillance

20. Textual Analysis of Trade and Trade Policy in Bilateral Surveillance

21. Country Survey-Coverage of Trade and Trade Policy

22. Textual Analysis of Trade in Bilateral Surveillance

23. Textual Analysis of Trade Policy in Bilateral Surveillance

24. Country Survey-Coverage of Key Events

25. Exports in Climate Sensitive Industries

26. Foreign Value-Added

27. Trade in Goods and Other Commercial Services

28. The Number of Environmental Provisions in RTAs

29. A Fund Agenda to Meet Emerging Challenges

30. Trade Priorities and Level of Development

TABLE

1. Examples of Priorities in a Proposed IMF Trade Strategy

References.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9798400238796