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Third Conference on Global Value Chains, Trade and Development
May 19-20, 2017National University of Singapore


The production of most goods is increasingly organised along global value chains, in which different stages of the production process are fragmented across countries. The Third Conference on Global Value Chains, Trade and Development will take place at the National University of Singapore on May 19–20, 2017, with the goal of stimulating research on the important and timely questions raised be the emergence of global value chains.

The conference is organised by Paola Conconi (Director of the CEPR Research Network on Global Value Chains, Trade and Development), Daria Taglioni (Global Solutions Lead of the World Bank’s Trade and Competitiveness Global Practice), and Paramita Dasgupta (Practice Manager, Trade and Competitiveness Global Practice, Singapore Hub). 

For more information about the conference, contact Patrick Ibay at pibay@worldbank.org or +1 202-473-8584.

MAY 19


8:30–9:00 AM

Registration and Organizers’ Welcome Remarks

9:00–10:00 AM

Keynote speech

On the Divergence between Consumer Price Index and Producer Price Index: The Role of Global Value Chains

Shang-Jin Wei, Columbia Business School

10:00–11:00 AM

Trade and Growth in the Age of Global Value Chains

Italo Colantone, Bocconi University

11:00–11:30 AM

Coffee break

11:30 AM–12:30 PM

Redefine ‘Foreign’: Implications for Foreign Direct Investment Spillovers

Pascalis Raimondos, Copenhagen Business School

12:30–1:30 PM


1:30–2:30 PM

Technological Determinants of the Make-Or-Buy Decision

Frank Pisch, London School of Economics

2:30–3:30 PM

Offshoring and Reorganization

Valerie Smeets, Aarhus University

3:30–4:00 PM

Coffee break

4:00–5:30 PM

Panel discussion

Responding to the changing nature of global value chains now



Daria Taglioni, World Bank Group



Viviana Araneda Urbina, Ministry of Foreign Affairs, Chile

Jonathan Asherson, Rolls Royce

Filippo di Mauro, National University of Singapore






MAY 20


9:00–10:00 AM

Keynote speech

Does Bank FDI Facilitate Firm FDI? Evidence from China’s Outbound Multinational Activity

Davin Chor, National University of Singapore

10:00–11:00 AM

The Post-Crisis TFP Growth Slowdown in CEE Countries: Exploring the Role of Global Value Chains

Paloma Lopez-Garcia, European Central Bank

11:00–11:30 AM

Coffee break

11:30 AM–12:30 PM

Sectoral Interlinkages in Global Value Chains: Spillovers and Network Effects Vanessa Gunnella, European Central Bank

12:30–1:30 PM

Organizers’ Closing Remarks and Lunch

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    Viviana Araneda Urbina

    Head, Global Value Chains Division, General Directorate of International Economic Relations, Chilean Ministry of Foreign Affairs
    Ms. Araneda is the Head of the Global Value Chains Division at the General Directorate for International Economic Relations of the Chilean Ministry of Foreign Affairs. The Division is in charge of the design, promotion and implementation of trade policies related to the insertion of Chile in Global Value Chains with the objective of increasing the diversification and value added of Chilean exports. Her responsibilities include coordination with Government agencies, private sector, think tanks, academia and civil society. Ms. Araneda has more than 15 years of experience in international trade and environment. She is an economist (University of Chile) and holds a master's degree in Environmental Management (Yale University).
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    Davin Chor

    Associate Professor, National University of Singapore
    Davin Chor is an Associate Professor at the Department of Economics, National University of Singapore. His research interests are in international trade, political economy and economic history. His primary work in international trade focuses on understanding patterns of comparative advantage and trade flows; the determinants of multinational activity; and the role of FDI policies. His work in political economy has examined the determinants of corruption; and the interactions between political participation, culture, and economic conditions. Davin completed his A.B. in Economics summa cum laude from Harvard University in 2000. He also holds an A.M. in Statistics (2000) and a Ph.D. in Economics (2007) from Harvard.
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    Italo Colantone

    Assistant Professor of Economics, Bocconi University
    Italo Colantone is Assistant Professor of Economics at Bocconi University, in Milan. He holds a Ph.D. in Economics from the Catholic University of Leuven (KUL). He teaches European economic integration and macroeconomics. His research focuses on international trade, applied industrial organisation, and political economy. He has authored several articles on the effects of economic integration on firm performance and industry dynamics. He has been involved in research projects for the European Commission, and has acted as a Consultant for the OECD.
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    Jonathan Asherson

    Regional Director, ASEAN & Pacific, Rolls Royce
    Jonathan Asherson is Regional Director for ASEAN and Pacific at Rolls-Royce PLC, based in Singapore. Before coming to Singapore in 1999, he was the Regional Executive for Rolls-Royce in Kuala Lumpur, Malaysia. He joined Rolls-Royce from Siemens AG in 1995, where he was Head of the Regional Competence Centre for Industrial Power, Asia Pacific, based in Kuala Lumpur. He spent 15 years working for Siemens in various roles in Germany, the United States, China, and Malaysia. Jonathan currently sits on a range of advisory committees for various educational and research institutions in Singapore and is currently a council member of the Singapore National Employers’ Federation. He is a board member of the Singapore International Chamber of Commerce, and was president of the Singapore British Chamber of Commerce. He was a board member of the Economic Development Board of Singapore from 2007–11 and is also an advisor to the Singapore Institute of International Affairs and sits on the Advisory Council on Community Relations in Defence.
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    Vanessa Gunnella

    Consultant, European Central Bank
    Vanessa Gunnella is a Consultant at the European Central Bank. She started working in the DG Economic Developments in July 2015, after she received her PhD in Economics from University of Bologna. Her research focusses on econometric methodologies (panel data and multivariate analysis) applied to the fields of International Economics, Macroeconomics and Finance. Currently, she is working on Global Value Chains and their effects on real activity, business cycle synchronization, prices and the sensitivity of trade to demand and exchange rates.
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    Paloma Lopez-Garcia

    Senior Economist, European Central Bank
    Paloma Lopez-Garcia earned her PhD at the London School of Economics in 2003 under the supervision of Professor C. Pissarides. Since then she worked at the Instituto de Empresa Business School and at the Research and Economics Department of the Central Bank of Spain. In 2013 she started working in DG Research at the European Central Bank as coordinator of the Competitiveness Research Network (CompNet). Since 2015 she is working as senior economist in DG Economics at the European Central Bank. She has published in the European Economic Review, Small Business Economics and Economics of Innovation and New Technology among other refereed journals. Her research topics are: microanalysis of productivity and employment growth; innovation; trade and competitiveness.
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    Filippo di Mauro

    Visiting Fellow, National University of Singapore
    Filippo di Mauro is Visiting Fellow at the Business School at the National University of Singapore. He is also Chairman/Director of CompNet, a large research network on competitiveness and productivity among European Union central banks, major international organizations, and academic institutes. His present research interests include: (1) Productivity and resource reallocation using firm level data; and (2) Modelling global linkages and business cycle forecast, including global trade and value chains. He has more than 30 years of applied economic experience as economist and research manager in central banks [Bank of Italy (1984¬–90 and 1996–98), U.S. Federal Reserve Board (May–September 2010), European Central Bank (ECB) (1998–2016)] and international development organizations [Asian Development Bank (1990–94) and International Monetary Fund (1986–88 and 1994–96)]. He joined the ECB since the start of its operations in 1998, and since then (up to 2010), he directed the international economic analysis and the global economy forecast in its Economics department. Mr. di Mauro has a wide record of publications, including in academic journals such as the Journal of Applied Econometrics, Journal of International Money and Finance, Economic Policy. An economics graduate of University of Rome, he holds an M.A. and a Ph.D. in Economics, from the University of Chicago and the American University, respectively
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    Frank Pisch

    London School of Economics
    Frank Pisch’s research focuses on the determinants of distance elasticities of international trade flows as well as on the reasons why multinational firms exist, that is, the advantages and disadvantages of vertical and horizontal integration. His publication “On the Comparative Advantage of U.S. Manufacturing: Evidence from the Shale Gas Revolution,” with Rabah Arezki (International Monetary Fund) and Thiemo Fetzer (University of Warwick), has been accepted for publication in the Journal of International Economics. He is currently a Research Assistant to Dr. Daniel Sturm at the London School of Economics.
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    Pascalis Raimondos

    Professor and Head of School, School of Economics and Finance, Queensland University of Technology
    Professor Pascalis Raimondos is the Head of School, School of Economics and Finance, QUT. He started in this position in January 2016 after 26 years at Copenhagen Business School, Denmark. He holds a Ph.D. and a M.Sc. from the University of Essex, and a B.A. from the University of Athens. His main research fields are International Trade and Public Finance. His recent research interests are within the taxation of multinational enterprises. His work has been published in several economic journals including The Economic Journal, Journal of International Economics, and the Journal of Public Economics. He serves as an Associate Editor for several economic journals including the European Economic Review, the Scandinavian Journal of Economics, and the Review of World Economics. While in Denmark, Professor Raimondos has been largely engaged with the academic and business community and lately as a member of the Danish Research Council and of the Danish Competition Authority.
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    Valerie Smeets

    Professor, Department of Economics and Business Economics, Aarhus University
    Valerie Smeets is a professor at Aarhus University, Department of Economics and Business in Denmark since January 2008. She is also a research affiliate of the Tuborg Research Center for Globalisation and Firms and the Center for Corporate Performance. Previously, she was assistant professor at Universidad Carlos III de Madrid, in the Department of Business Administration. She works on international trade, organizational economics, industrial economics and personnel economics.
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    Daria Taglioni

    Lead Economist and Global Solution Lead for Global Value Chains, Trade and Competitiveness Global Practice, World Bank Group
    Daria Taglioni is a Lead Economist and the Global Solution Lead for Global Value Chains in the Trade and Competitiveness Global Practice of the World Bank. Daria has authored two books, including “Valuing Services in Trade: A Toolkit for Competitiveness Diagnostics” (with Sebastian Saez, Erik van der Marel, Claire Hollweg, and Veronika Zavacka) and “Making Global Value Chains Work for Development” (with Deborah Winkler). She has also published in peer-reviewed journals, including the Journal of International Economics and Economic Policy, Journal of Banking and Financial Economics, Journal of Economic Integration, World Economy, Emerging Markets Review, European Economy, Organisation for Economic Co-operation and Development Journal, and the Journal of Financial Transformations, as well as in a number of edited volumes by the World Bank, the Centre for Economic Policy Research, the European Central Bank, and the Organisation for Economic Co-operation and Development (OECD). Before joining the World Bank, she worked at the European Central Bank and at the OECD. She holds a Ph.D. in International Economics from the Graduate Institute Geneva.
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    Shang-Jin Wei

    N.T. Wang Professor of Chinese Business and Economy and Professor of Finance and Economics, School of Business and School of International and Public Affairs, Columbia Business School
    Dr. Shang-Jin Wei is N.T. Wang Professor of Chinese Business and Economy and Professor of Finance and Economics at Columbia University’s School of International and Public Affairs and Graduate School of Business. During 2014-2016, Dr. Wei served as Chief Economist of Asian Development Bank and Director General of its Economic Research and Regional Cooperation Department. He was ADB’s chief spokesperson on economic trends and economic development in Asia, advised ADB’s President on economic development issues, led the bank’s analytical support for regional cooperation fora including ASEAN+3 (China, Japan, and Korea) and APEC, growth strategy diagnostics for developing member countries, as well as research on macroeconomic, financial, labor market, and globalization issues. Prior to his Columbia appointment in 2007, he was Assistant Director and Chief of Trade and Investment Division at the International Monetary Fund. He was the IMF’s Chief of Mission to Myanmar (Burma) in 2004. He previously held the positions of Associate Professor of Public Policy at Harvard University, the New Century Chair in Trade and International Economics at the Brookings Institution, and Advisor at the World Bank. He has been a consultant to numerous government organizations including the U.S. Board of Governors of the Federal Reserve System, United Nations Economic Commission on Europe, and United Nations Development Program, the Asian Development Bank, and to private companies such as PricewaterhouseCoopers. He holds a PhD in economics and M.S. in finance from the University of California, Berkeley. Dr. Wei is a noted scholar on international finance, trade, macroeconomics, and China. He is a recipient of the Sun Yefang Prize for Distinguished Contributions to Economics (for the invention of the Competitive Saving Motive published in Journal of Political Economy), the Zhang Peifang Prize for Contributions to Economics of Development (for pioneering work on measurement of global value chains published in American Economic Review), and the Gregory Chow Award for Best Research Paper; some of his research was supported by a grant from the U.S. National Science Foundation. Dr. Wei’s research has been published in top academic journals including American Economic Review, Journal of Political Economy, Quarterly Journal of Economics, Journal of Finance, Review of Financial Studies, Journal of International Economics, and Journal of Development Economics, and reported in popular media including Financial Times, Wall Street Journal, Economist, Business Week, Times, US News and World Report, Chicago Tribune, South China Morning Post, and other international news media.
  • WHEN: May 19–20, 2017
  • WHERE: National University of Singapore