Can the G20 Serve as a Launchpad for a Multilateral Investment Agreement?

18th November 2021
KCG Secretary
Authors: Axel Berger, Wan-Hsin Liu (The World Economy, 2021, Vol. 44(8), 2284-2302)

The international system for the governance of foreign investments is highly fragmented consisting mainly of bilateral agreements. With the adoption of nine guiding principles for global investment policy-making in 2016, some observers argue that the G20 can actually serve as a launchpad for negotiations of a multilateral investment agreement[...]

Aoife Hanley discusses Chances and Challenges of China’s Energy Transition for German SMEs

8th November 2021
KCG Secretary
Publications
Publications
According to the Paris Agreement negotiated at the 21st United Nations Climate Change Conference, COP21, in 2015 and signed afterwards, the countries involved are expected to give updated national pledges every five years to enhance their nationally determined contributions to help limit the greenhouse gas emissions and mitigate climate change. First such official updates are thus expected at the 26th United Nations Climate Change Conference, COP26, that is currently held in Glasgow in United Kingdom[...]

KCG Researchers Analyse the Impact of Maritime Piracy on Trade and Transport

26th October 2021
KCG Secretary
News
News
Maritime shipping has attracted much more attention from the public and politics since the outbreak of the Covid-19 pandemic. Global supply chain disruptions caused by the pandemic, shipping accidents like the Suez Canal grounding of the Ever Given and the recently increasingly severe supply shortages have all induced many to question the reliability of maritime shipping and the impact of shipping disruptions or disturbances on trade[...]

Where has the rum gone? The impact of maritime piracy on trade and transport

26th October 2021
KCG Secretary
Authors: Alexander Sandkamp, Vincent Stamer, Shuyao Yang (Review of World Economics, forthcoming)
Despite a general agreement that piracy poses a significant threat to maritime shipping, empirical evidence regarding its economic consequences remains scarce. This paper combines firm-level Chinese customs data and ship position data with information on pirate attacks to investigate how exporting firms and cargo ships respond to maritime piracy[...]

KCG Seminar by Julian Hinz on Frictions to intranational investment on Sep. 21, 2021

13th September 2021
KCG Secretary
News
News
There has been much research evidence showing that geographical and cultural distances have played a negative role for firms’ internationalization or, more concretely, their engagement in investments abroad. Comparably less attention has been paid to the nexus between geographical and cultural distances and intranational investments. Although such geographical and cultural distances within a country are probably much smaller, this does not necessarily mean that they could not play a likewise critical role in determining firms’ intranational investments decisions and thus affecting the allocation efficiency of capital[...]

Kiel Week 2021 Presentations by KCG Researchers about Supply Chain Law, CO2 Border Adjustment and Global Coffee Trade

3rd September 2021
KCG Secretary
News
News
On the coming Saturday the Kiel Week 2021, in its 140th year, will officially start. The Kiel Institute for the World Economy, a founding institute of the Kiel Centre for Globalization, will again offer public presentations on various economics topics based on its current research work. There will be four such Kiel Week 2021 presentations provided by the Kiel Institute and three of them will be given by KCG researchers[...]

August 17, 2021: Seminar by Sonali Chowdhry on Firm-specific Determinants of the Invoicing Currency Choice in International Trade

16th August 2021
KCG Secretary
News
News
Sonali Chowdhry
Research macroeconomic analysis by Boz et al. (2021) finds an overall stability of invoicing currency patterns in global trade and a further dominant role the US dollar in this regard. Despite the general stability of invoicing currency patterns, they find an increasing use of the Euro as invoicing currency for trade in some European and African countries[...]

Upcoming KCG Seminar by Victor Gimenez-Perales on Importer-Exporter Connections

9th August 2021
KCG Secretary
News
News
With the gradual liberalization trend of the international trade and with the strong technological progress in transportation, information and communication, it has been much less costly for firms to procure resources and intermediate goods needed for better prices abroad, and to sell their products globally. As a result, global value chains (GVCs) have been quickly developed and extended since the 1990s[...]

New KCG Study Investigates Impact of Exports on Innovation in China

14th June 2021
KCG Secretary
News
News
Economists generally agree on a connection between exports and innovation and the former fuels the latter. Several studies also report the existence of such export-driven innovation for Chinese exporters.
In addition to the direct impact of exports on innovation among exporters, there is a further effect, namely an indirect or spillover effect of exports. Non-exporters can theoretically also become more innovative, when information accumulated by exporters in the same region or sector gets spilled over to the non-exporters[...]

KCG Working Paper No. 24: Exports and New Products in China – A Generalized Propensity Score Approach with Firm-to-Firm Spillovers

14th June 2021
KCG Secretary
Publications
Publications
Autthors: Yundan Gong and Aoife Hanley

Underpinning China’s technological advancement are the twin-engines of exports and innovation. To better understand China’s meteoric economic transformation, we explore the extent to which new products are triggered by exports (direct effects) and by exposure to other exporters (indirect effects)[...]