Professor Fabio Ghironi Addresses Policy Questions Related to the Prevalence of Global Value Chains

Submitted by Nicole Johns on
Professor Fabio Ghironi presenting at a conference at the Bank of Portugal

The World Bank recently held its first conference on Global Value Chains, Trade and Development in partnership with the Centre for Economic Policy Research (CEPR) at the World Bank Group Headquarters in Washington, D.C.

The conference brought together top researchers in international trade and macroeconomic, and practitioners at the World Bank and other institutions, to address questions related to the emergence of global value chains (GVCs), in  which different stages of the  production process are fragmented across countries.

Professor Fabio Ghironi was invited to speak in the final panel on the macroeconomic policy consequences of global value chains, “What Do GVCs Mean for Macro Policies?”. Questions addressed by the panel include the role of GVCs in international macroeconomic interdependence, exchange rate pass-through, and the implications of GVCs for policy coordination and the exchange rate regime.

Given the importance of GVCs in the global economy, a second CEPR-World Bank conference on this topic has been scheduled this September in Geneva, and an additional conference is in the works for next spring to be held again at the World Bank headquarters.  CEPR and the Central Bank Research Association (CEBRA) are also organizing a conference on “International Trade and Macroeconomic Interdependence in the Age of Global Value Chains” at the Bank of Lithuania, Vilnius this September. This will be the first annual conference of CEBRA’s International Trade and Macroeconomics Program directed by Professor Ghironi.