In an interconnected world, a new way of looking at trade
The international fragmentation of production led to the emergence of Global Value Chains (GVCs), which have contributed to the structural interdependence of the world economy (Baldwin 20...
Sónia Cabral is an economist in the Structural Issues Unit of the Economics and Research Department of Banco de Portugal. She has also worked at the Organisation for Economic Co-operation and Development (OECD) and at the European Central Bank (ECB) on a secondment basis. Her research interests include international trade, global value chains, multinational firms, and economic policy analysis.