SURFING ON THE TIDE? LEAST-DEVELOPED COUNTRIES TRADE DURING THE GREAT GLOBAL TRANSITION
AbstractThe rebalancing of global demand towards large emerging countries and the resulting long-lasting cycle of high
international commodity prices had a profound impact on LDC trade. This process contributed to a wider geographical
diversification of LDCs' exports but led also to a greater reliance on those highly priced commodities. LDCs remain
particularly vulnerable to external shocks; the 2008-2009 global crisis and the bumpy transitional recovery that followed
illustrate the fragility of the recent trends. A slowdown in the growth of large emerging countries may end the commodity
"super-cycle", deepening LDCs' structural trade imbalances. In such a perspective, renewed efforts towards extensive
product diversification are called for. Fostering diversification has been supported for many years by preferential market
access to develop and --more recently-- to emerging countries. But preferences alone are not sufficient to improve the
supply-side capabilities of most LDCs. The new business models related to global value chains offer new opportunities to
LDCs for export diversification and trade facilitation is one of the key components of this diversification strategy.
The Copyright Transfer Form to ASERS Publishing (The Publisher)
This form refers to the manuscript, which an author(s) was accepted for publication and was signed by all the authors.
The undersigned Author(s) of the above-mentioned Paper here transfer any and all copyright-rights in and to The Paper to The Publisher. The Author(s) warrants that The Paper is based on their original work and that the undersigned has the power and authority to make and execute this assignment. It is the author's responsibility to obtain written permission to quote material that has been previously published in any form. The Publisher recognizes the retained rights noted below and grants to the above authors and employers for whom the work performed royalty-free permission to reuse their materials below. Authors may reuse all or portions of the above Paper in other works, excepting the publication of the paper in the same form. Authors may reproduce or authorize others to reproduce the above Paper for the Author's personal use or for internal company use, provided that the source and The Publisher copyright notice are mentioned, that the copies are not used in any way that implies The Publisher endorsement of a product or service of an employer, and that the copies are not offered for sale as such. Authors are permitted to grant third party requests for reprinting, republishing or other types of reuse. The Authors may make limited distribution of all or portions of the above Paper prior to publication if they inform The Publisher of the nature and extent of such limited distribution prior there to. Authors retain all proprietary rights in any process, procedure, or article of manufacture described in The Paper. This agreement becomes null and void if and only if the above paper is not accepted and published by The Publisher, or is with drawn by the author(s) before acceptance by the Publisher.