TY - BOOK ID - 134995103 TI - The Curious Case of Brazil's Closedness to Trade AU - Canuto, Otaviano AU - Fleischhaker, Cornelius AU - Schellekens, Philip PY - 2015 PB - Washington, D.C., The World Bank, DB - UniCat KW - Domestic Value Chain Integration KW - Economic Theory & Research KW - Emerging Markets KW - Exchange Rate Appreciation KW - Free Trade KW - Global Financial Crisis KW - Global Production Networking KW - Low Trade Penetration KW - Trade Law KW - Trade Policy UR - https://www.unicat.be/uniCat?func=search&query=sysid:134995103 AB - Although Brazil has become one of the largest economies in the world, it remains among the most closed economies as measured by the share of exports and imports in gross domestic product. This feature cannot be explained simply by the size of Brazil's economy. Rather, it is due to an economic structure reliant on domestic value chain integration as opposed to participation in global production networking. It also reflects more generally an export base that shows lack of dynamism. Opening up and moving toward integration into global value chains could produce efficiency gains and help Brazil address its productivity and competitiveness challenges. ER -