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The CEPII Newsletter       
December 2019        



The French edition is slightly different as it also includes material available in French only  

Europe Monnaie & Finance Trade & Globalization Migrations Economic Policy Emerging Economies Competitivness & Growth Environment & Natural Ressources
  Focus

CEPII Country Profiles upgrade

CEPII offers an enhanced version of the Country Profiles - the online interactive pages elaborated from its own databases - which present the insertion of 80 economies in world trade. These free of use data are provided in the form of didactic illustrations for informational, educational and research purposes. In this new version, the seven headings of the Country Profiles - sorted from a global vision of the economy’s international integration to the more and more detailed ones - have been restructured. Two new headings appear, “Projections” and “Balance & Forex”, while others have been remodelled and enriched.
CEPII Profiles team : Charlotte Emlinger, Jean Fouré, Matteo Gagliardi, Carl Grekou, Houssein Guimbard, Laurence Nayman, Alix de Saint Vaulry & Deniz Ünal. >>>
  Edito




Are Your Labor Shares Set in Beijing? The View through the Lens of Global Value Chains

We study the evolution of labor shares in 1995-2014 while taking into account international trade based on value added concepts. On average, the decline in labor shares (starting around 1980) accelerates in 2001-2007, after which labor shares recover somewhat. In contrast, skilled labor shares consistently increase. The acceleration in the decline in labor shares is associated with increased intensity of intermediate input exporting; this manifests in a sharp increase in the foreign component in upstreamness of industries and countries in global value chains (GVCs). China's global integration accounts for much of this. Declines in the price of investment together with capital-skill complementarity can explain both the consistent increase in skilled labor shares and the reversal of trend in overall labor shares. Compared to shares in GDP, labor shares in gross national product (GNP) are higher in countries with positive net FDI positions; the uneven spread of multinational activity contributes to greater inequality through this channel.
Ariell Reshef & Gianluca Santoni
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Assessing the cost of uncertainty created by Brexit

More than three years after the Brexit referendum, Brexit is still not settled, but the uncertainty remains. This long period of uncertainty has cost around half a point of economic growth per year since 2016 for the UK’s economy, which is equivalent to an annual loss of £16 billion.
Fabien Tripier
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  Databases




BACI is now freely accessible

BACI which provides disaggregated data on bilateral trade flows of 200 countries for more than 5000 products, is now freely accessible.
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ISSN: 1255-7072
Editorial Director : Antoine Bouët
Managing Editor : Dominique Pianelli