Imports are becoming more important than ever in world trade in the face of rapid globalization and the spread of global supply chains. One way to boost imports is through efficient regulations and practices. While the impact of regulatory restrictions is well established for exports, their effect on imports has been studied to a lesser extent across countries. This brief aims to help fill that gap. Focusing on the auto industry, it analyzes the relationship between efficient import procedures and international trade flows in 190 economies. An analysis of the data at the global level suggests that economies where importing auto parts is relatively fast and inexpensive tend to have not only higher imports of auto parts (in terms of volume and value) and a higher ratio of imports of auto parts to total GDP, but also a higher ratio of imports of overall manufactured products to total GDP. Similarly, economies with efficient procedures when importing auto parts tend to have a greater share of automobile exports of total GDP. The Brief does not provide a causal interpretation and more analysis will be needed to understand the direction of the relationships. But given the strong positive association between the efficiency of import procedures and international trade, streamlining import regulations appears to be an important aspect for policy makers to focus on in formulating trade policy.
Información
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Autor
Ereshchenko,Viktoriya, Eknath,Varun, Zabalbeitia Mugica,Ines
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Fecha del documento
2021/09/28
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Tipo de documento
Resumen
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Número del informe
165358
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Volumen
1
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Total Volume(s)
1
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País
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Región
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Fecha de divulgación
2021/10/20
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Disclosure Status
Disclosed
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Nom. del doc.
The Importance of Facilitating Imports for International Trade Flows : Evidence from the Auto Industry
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Palabras clave
across border; Global Indicator; share of export; import regulation; import procedure; global value chain; natural resource endowment; value added; ratio of imports; vehicle part; International Trade; manufacturing sector; value of imports; public policy goal; middle-income economy; fragmentation of production; quality of exports; share of import; value of trade; international trade regulation; volume of trade; barrier to import; gross national income; country growth rate; united nations conference; transmission of technology; production and export; cost of living; import of technology; impact of trade; import tariff rate; free trade area; global supply chain; international trade system; customs clearance procedures; border service; auto industry; high ratio; world trade; positive relationship; import process; merchandise export; high share; manufactured products; import product; regression analysis; regulatory restriction; food import; export share; tariff level; apparel sector; facilitation measures; customs requirement; import value; inspection system; physical inspection; import data; independent country; customs procedure; higher growth; documentary requirement; good performance; world exports; trade costs; protectionist purposes; increasing trade; raw material; consumer protection; vegetable oil; public health; discriminatory intent; population size; smaller share; technical standard; price rise; technical inspection; firm-level survey; development study; global economy; empirical literature; Phytosanitary Measures; market entry; export product; automotive industry; restricting imports; manufacturing industry; comparative economics; red tape; Trade Policies; Trade Policy; food trade; SPS Measures; product standard; international economics; customs process; commercial invoice; import license; technological spillover; research practice; domestic policies; new technology; Technology Transfer; competitive price; export market; cross-country evidence; trade procedures; technological innovation; fragmented production
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