02230cas a2200337 a 4500 AALejournalIMF014947 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498399135 1018-5941 BD-DhAAL BD-DhAAL Constantinescu, Cristina. The Global Trade Slowdown : Cyclical or Structural? / Cristina Constantinescu, Aaditya Mattoo, Michele Ruta. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (44 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on an error correction model to assess whether the global trade slowdown is structural or cyclical. An estimate of the relationship between trade and income in the past four decades reveals that the long-term trade elasticity rose sharply in the 1990s, but declined significantly in the 2000s even before the global financial crisis. These results suggest that trade is growing slowly not only because of slow growth of Gross Domestic Product (GDP), but also because of a structural change in the trade-GDP relationship in recent years. The available evidence suggests that the explanation may lie in the slowing pace of international vertical specialization rather than increasing protection or the changing composition of trade and GDP. Mode of access: Internet Import Growth imf Trade Elasticity imf Trade Growth imf Trade Slowdown imf WP imf United States imf Mattoo, Aaditya. Ruta, Michele. IMF Working Papers; Working Paper ; No. 2015/006 Full text available on IMF http://elibrary.imf.org/view/journals/001/2015/006/001.2015.issue-006-en.xml IMF e-Library