Is world trade slowing down? New evidence on trade-income elasticity

This paper furthers and updates the research on nature of so-called global trade slowdown. Not only do we explain discuss determinants this phenomenon, but also offer an empirical description recent evolution elasticity. With purpose testing whether is a structural phenomenon or not, build Error Correction Model for both world regional data income using from World Bank period 1970-2017. World, OECD Asian countries elasticity figures show remarkable reduction after hyperglobalization (1986- 2001), opposed to those Latin America where volume has not stagnated so much. slowdown might have major consequences any country, especially which relied more intensively as engine growth.