Rethinking Trade Flows: What New Insights Do Gravity Models with TiVA Data Bring? – by Imre Fertő & Magdolna Sass
In an increasingly globalized economy, understanding international trade flows is critical for policymakers and economists alike. Traditional trade data have long been used to estimate and predict trade patterns between countries. However, as global value chains (GVCs) have evolved, there has been growing recognition that traditional trade data—based on gross exports—might not provide the […]