E-commerce, GVC and Regional Trade...

E-commerce, GVC and Regional Trade Agreements

GVC Training and Research Workshop

José-Antonio Monteiro

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Caveats

2

Opinions expressed do not necessarily reflectthose of the WTO, and are without prejudice tothe positions of Members and to their rights andobligations under the WTO.

References to names of firms and commercialproducts do not imply their endorsement by theWTO. Any failure to mention a particular firm orcommercial products is not a sign of disapproval.

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Outline

• Introduction

• Why trade electronically?

• What to trade electronically?

• How to trade electronically?

• National and international policy implications

• Conclusion

3

Introduction

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Electronic Commerce Definition

5

No globally accepted definition of e-commerce

WTO Electronic Commerce Work Program: “Electronic commerce" understood to mean the production, distribution, marketing, sale or delivery of goods and services by electronic means.

OECD Guide to Measuring the Information Society:“Electronic commerce” defined as the sale or purchase of goods or services, conducted over computer networks by methods specifically designed for the purpose of receiving or placing orders.

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Electronic Commerce Typology

6

Goods Services

Websites / online platforms─ Physical products:

• Agricultural goods• Manufacturing goods

Websites / online platforms─ Professional services─ Business process outsourcing─ Knowledge process outsourcing─ E-banking─ Consulting─ …

Websites / App stores─ Software─ Mobile apps─ E-books─ Music (download, streaming)─ Movies (download, streaming)─ …

Websites / App stores─ Online payment system─ IT outsourcing─ Web advertising─ Cloud-based services─ …

Trad

e fa

cilit

ated

b

y th

e In

tern

et

Trad

e in

d

igit

al fo

rm

Source: Adapted from World Bank

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Electronic Commerce Classification

7

Businesses

Source: Adapted from Turban et al. (2015)

Consumers Employees

Government

B2B

B2G

G2B

C2C

G2G

Intra-business

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Cross-border Electronic Commerce

1. Prerequisites

Internet / Electronic data interchange

Physical infrastructure

Network Devices (PC, phone …) …

ICT services Internet providers Website developers App developers Software/IT providers …

2. Transaction

Seller / Provider

Goods

Services

Online support services Payment solutions Financing Digital signatures …

3. Cross-border delivery

Bu

yer

Customs Duties Procedures

Transport and delivery

Logistics Distribution

Non-digital delivery

Digital delivery

Data flows

8

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Data Flows

• Purely non-commercial data traffic- Government and military communications

• Transaction data flows at market price- Direct purchases between buyers and sellers (e.g. e-banking)- Services transactions involving digital platforms acting as intermediaries

• Commercial data and services exchanged at zero market price- Supply chains- Personnel communications, including R&D- Design information

• Digital data and services at zero market price- Free e-mail- Free information via search engine results, maps and social media

9

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Challenges of Measuring Electronic Commerce

No comprehensive official statistics on the value of domestic and

international electronic commerce:

• Nature of cross-border data flows

• Lack of standard nomenclature

• Lack of data specialization

• Limited scope of data

• Lack of regularity and transparent methodologies

10

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International Initiatives

11

Initiatives between international organizations, governments and private firms to improve the measurement of electronic commerce:

OECD Working Party of the Trade Committee: Database of policies in effect limiting the free flow of cross-border data.

UNCTAD: Information Economy ReportAnalyses of current trends and major international policy issues regarding information and communication technologies (ICT).

Partnership on Measuring ICT for Development:Improving the availability and quality of ICT data and indicators, particularly

in developing countries.

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OECD Conceptual Measurement Framework

12

Nature (“how”)

Digitally ordered

Platform enabled

Digitally delivered

Product (“what”)

Goods

Services

Information

Actors (“who”)

Business

Consumer

Government

Source: OECD (2017)

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Global Flows of Data and Communication

14

Sources: TeleGeography; McKinsey

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15


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16


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17


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18


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19


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20


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21


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22


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23


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Global Flows of Trade, Investment and Data

24

Source: McKinsey

0

0.05

0.1

0.15

0.2

0.25

1980 2014

Gro

wth

Trade Finance Data (cross-border bandwidth)

45x

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Global Flows of Digital Data

0

20

40

60

80

100

120

140

1997 2003 2009 2015

US

con

sum

er p

rice

ind

ex (1

997=

100)

25

Sources: Brynjolfsson and McAfee (2014); US Bureau of Labour Statistics

0

1

2

3

4

5

6

7

8

9

10

1970 1985 2000 2015

Tran

sist

or c

ou

nt (

bill

ion

)

Advances in computing power

Falling costs of computers All items

Personal computers

Software

Internet services

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Global Flows of Digital Data

0

5

10

15

20

25

30

35

40

45

0

5

10

15

20

25

30

35

40

45

1993 1998 2003 2008 2013

Po

pu

lati

on

sh

are

usi

ng

Inte

rnet

Bill

ion

s o

f gi

gab

ytes

per

mo

nth

26

Sources: Cisco Systems; World Bank

0

20

40

60

80

100

Firm

s sh

are

usi

ng

Inte

rnet

2006-09 2010-14

Increased use ofInternet by firms

Increased access to Internet by people

Internet traffic

Internetuse

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World Electronic Commerce Transactions

27

Sources: UNCTAD, USITC

0

10

20

30

2013 2016

Trill

ion

USD

B2B and B2C electronic commerce

B2B Electronic commerce

B2C electronic commerce

0

10

20

30

40

Uni

ted

Stat

es

Jap

an

Chi

na

Rep

. Ko

rea

Ger

man

y

Uni

ted

King

dom

Fran

ce

Can

ada

Spai

n

Au

stra

lia

Res

t of

Wor

ld

Shar

e in

wo

rld

B2

B a

nd

B2

C

elec

tro

nic

co

mm

erce

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Local lifestyle service Online2Offline, 2%

SMEs B2B, 44%

Corporation B2B, 28%

B2C (Shopping),

24%B2C (Travel),

3%

Sources: China Internet Network Information Center; iResearchNote: Gross merchandise volume is total volume in dollars of sales (based on professional interviews and companies’ records) .

0

5

10

15

20

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Ch

ina’

s G

MV

(Tri

llio

n R

MB

)China’s Electronic Commerce Gross Merchandise Volume

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0

200

400

600

800

1000

1200

1400

2016E 2017E 2018E 2019E 2020E 2021E

Bill

ion

U.S

do

llars

B2B E-Commerce

Cross-Border Electronic Commerce

29

Source: Business Insider

Global

USA-CHNNAFTAEU-UK

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Electronic Commerce Issues

Digital technologies

Why trade electronically?

What to trade electronically?

How to trade electronically?

Why trade electronically?

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Why Trade Electronically?


Comparative advantages

Competition in digital markets

Barriers to trade

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Comparative Advantages

33

• Concept of comparative advantages relevant in explaining trade in digital age (Deardorff, 2017)

• Complexity of trade pattern assessment in digital age (Goldfarb and Trefler, 2018)

• Relevance of capital, labour, institutions and technology as factors of comparative advantages:

– High-skilled digital intensive products likely to be exported by countries with both high supply of skilled labour and capital

– Important role in R&D expenditure and policy as determinant of differences in technology

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34

• Importance of knowledge externalities (Goldfarb and Trefler, 2018):

– Potential developing countries’ technological leapfrogging with knowledge externalities extending beyond borders

– High income countries’ existing comparative advantages likely to persist with knowledge externalities confined within borders

• Role of digital infrastructure and energy infrastructure for comparative advantages in digital intensive sectors:

– Vast amounts of energies required for storage devices, power supplies and cooling systems used by server farms

– Energy consumption by social media’s data as large as Burkina Faso’s energy consumption (Burrington, 2015).

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35

• Market size acting as natural barrier to entry through large economies of scale and scope in digital intensive sectors

• Importance of credible legal institutions (e.g. data privacy, IPR) to enforce electronic contracts and consumer protection

• Role of for financial institutions to facilitate access to capital and investments in necessary infrastructure and equipment

• Minor role of border processes, geographical factors, and physical infrastructure (except digital infrastructure) for comparative advantages in digitally delivered goods and services but not in trade facilitated by the Internet

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Barriers to Trade

36

Source: World Trade Report 2018Note: Chen and Novy (2011) methodology using WIOD data.

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Goods Services

20

14

trad

e co

sts

con

trib

uti

on

Transport

Logistics

Border

Information and transaction

Trade policy

Other

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Transport and Logistics Costs

37

• Transport costs contingent on:– Product being transported– Distance between countries– Trade infrastructure of source, transit and destination countries

• Delays and uncertainty:– Each additional day in transit equivalent to 0.6-2.3% ad valorem tariff

equivalent (Hummels and Schaur, 2010)– Trade of parts and components 60% more time sensitive

• Role of ICT in reducing transport and logistics costs:– GPS for navigation and route planning– Cargo and shipment tracking.– Automation of warehousing, and container unloading and unpacking– Artificial intelligence, robotics and 3D printing?

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Transport and Logistics Costs

38

0 5 10 15 20 25 30 35 40 45

Don’t know

More than €30

Between €21 and €30



Less than €5

Free due to high item value

Free due to loyalty programme

Specific free shipping promotion

Retailer offers free shipping

Share of B2C transactions

Source: 2017 IPC Cross-Border Shopper SurveyNote: Survey covers 31 countries: including Brazil, China, India, Republic of Korea, the United Kingdom and the United States.

62% free shipping

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Digital Trade Impact of Distance

39

Source: Lendle et al. (2016)

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Border Costs

40

0

10

20

30

40

50

60

70

80

90

100

EDI24/7 service

No EDINo 24/7 service

Ave

rage

exp

ort

bo

rder

co

mp

lian

ce t

ime

(hr)• Important role of digital technologies

in paperless trading and efficiency gains through automated customs systems

• Reduction in time spent on customs compliance thanks to basic electronic systems:

– Electronic Data Interchange (EDI)

– Electronic Single Window (ESW)

• Role of WTO Trade Facilitation Agreement in promoting the simplification of customs procedures

Source: World Bank

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Information and Transaction Costs

41

• Online platforms help overcome the lack of information and trust in cross-border transactions

• Potential simplification of verification and certification thanks to emerging technologies (Internet of Things and Blockchain)

• Reduction in language barriers thanks to real-time translation and online platforms

• Cross-border payments facilitated thanks to online platforms and mobile banking

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Disintermediation

42

Source: Adapted from Turban et al. (2015)

Disintermediation

Reintermediation

Producer Distributor Retailer ConsumerSupplier



Intermediary

Reintermediation

Disintermediation

Intermediary

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Competition in Digital Markets

43

• Network effects (online platforms)– Direct effect: network’s value to all participants accrued

from each additional user

– Indirect effect: increased network’s size attracting users on other market size

• Scale without mass effectsNew users added rapidly and at virtually no costs (digital bits reproduction and distribution)

• Switching costsCostly and harder to switch and transfer personal data to different online services

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GVC in the Digital Era

44

• Expansion of GVC thanks to innovations in logistics and lower transaction costs through ICT

• Impact of new digital technologies to affect the nature, complexity and length of GVCs in the future…

• ... but hard to predict a reduction or increase in GVC trade:

– lower costs of coordinating geographically dispersed tasks

– lower cost of reshoring tasks 4.3

4.8

5.3

20

22

24

26

28

30

2000 2004 2008 2012

GV

C le

ngt

h

Glo

bal

imp

ort

inte

nsi

ty

Sources: Timmer et al. (2016); Degain et al. (2017)

GVC length

Global importintensity

What to trade electronically?

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Changing Sectoral Composition of Trade


Growing importance of services trade

Customised and personalised

goods and services

Changes in composition of trade in goods

Role of intellectual property

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Growing Importance of Services Trade

0 10 20 30 40 50 60

Travel Services

Computer Programming

Telecommunications

Media Publ./Recording

Repair Of ICT Equipment

Accommodation

Wholesale Trade

Prof., Scient., Technical…

Real Estate

Trade Of Motor Vehicles

ICT, Electronic, Optical…

Admin./ Support Services

Retail Trade

Digital intensity in sales

• News ways of delivering services thanks to digital technologies

• Increasing tradability of services remotely delivered through ICT networks (digitally enabled services)

• Rise in knowledge-intensive services thanks to interactive websites, emailing and audio/video conferences tools

• No classification yet in digital intensity in production and sales

Source: European Commission (2017)

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0 5 10 15 20 25 30

Other

Car & motorbike

Baby & child

Household appliances

Computers

Home & garden

Toys

Sport & leisure

Jewellery & watches

Books, music & media

Health & beauty

Consumer electronics

Clothing, footwear & apparel

Share of B2C e-commerce purchasesSource: 2017 IPC Cross-Border Shopper SurveyNote: Survey covers 31 countries: including Brazil, China, India, Republic of Korea, the United Kingdom and the United States.

Change in Composition of Trade in Goods

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Expansion of Trade in IT Goods

400

600

800

1000

1200

1400

1600

1800

1996 2006 2016

Exp

ort

s (B

illio

n U

SD)

• WTO Information Technology Agreement (ITA) signed in 1996 and expanded in 2015

• Duty-free commitments:

– Computers and calculating machines

– Telecommunication equipment

– Semiconductors

– Semiconductor manufacturing equipment

– Data storage media and software

– Instrument and apparatus

– Parts and accessories

Source: World Trade Report 2018

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• Time sensitive goods

– Lower transportation and logistics costs

– New business model (e.g. perishable food products)

– Potentially shorter supply chains (e.g. parts and components, clothing)

• Certification-intensive goods

– Lower certification costs by removing some information asymmetries

– Increased transparency (e.g. luxury items, electronics, food products)

• Contract-intensive goods

– Lower information and transaction costs

– New business model (online platforms)

• Impact of sharing economy on demand for durable goods

50

Change in Composition of Trade in Goods

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Source: World Trade Report 2018Note: Digitizable goods include movies; books; newspapers; video games; computer software; musical records and other recordedmedia.

0.0

0.5

1.0

1.5

2.0

2.5

3.0

0

20

40

60

80

100

120

140

2000 2005 2010 2012 2013 2014 2015 2016

Exp

ort

sh

are

of

tota

l go

od

s tr

ad

e

Exp

ort

s (B

illio

n U

SD)

Export share

Reduction in Trade of Digitizable Goods

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20000

40000

60000

80000

100000

120000

140000

2016 2027 2038 2049 2060

Trad

e in

go

od

s an

d s

ervi

ces

(B

illio

n U

SD)

52

Potential Impact of 3D Printing

Sources: ING (2017); Wholers report (2017)

World trade benchmark scenario

Scenario I

Scenario II

Effect of 3D printing:-22,000 bn

Effect of 3D printing:-34,000 bn

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Customised and Personalised Goods and Services

0 10 20 30 40 50 60

Holidays

Hotels

Flights

Furniture, homeware

Clothing

Restaurants

Footwear

Electrical products

Food and groceries

Fashion accessories

Books, entertainment

Consumers’ share interested in personalised goods and services

• Product variety expansion

• Willingness to pay a premium to personalise products

• Willingness to wait longer to receive personalised products

• Embedded online configuration options in interactive websites

• Product visualisation techniques and 3-D printing

Source: Deloittle (2015)

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Intellectual Property

Seller

Buyer

Ph

ysic

al p

rod

uct

Transfer of ownership of

physical medium

Seller

Buyer

Dig

ita

l pro

du

ct

Limited licence of digital product

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Introduction



Parcelization of trade in goods

New ways to deliver services

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Parcelization of Trade in Goods

0% 10% 20% 30%

Less than 0.2kg

0.2kg to 0.5kg

0.6kg to 1kg

1.1kg to 2kg

2.1kg to 5kg

More than 5kg

Don’t know

Share of B2C online purchases

0% 10% 20%

Less than €10

€10 to €24

€25 to €49

€50 to €74

€75 to €99

€100 to €199

€200 or more

Don’t know

Share of B2C online purchases

Source: 2017 IPC Cross-Border Shopper SurveyNote: Survey covers 31 countries: including Brazil, China, India, Republic of Korea, the United Kingdom and the United States.

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100

120

140

160

180

200

220

240

260

280

2000 2004 2008 2012 2016

Growth index (100 = 2000)

Domestic parcels

International parcels

58

Parcelization of Trade in Goods

• Small value packages more sensitive to trade costs (shipping and formalities costs)

• Big challenge for customs authorities:– Clearance systems designed for large containers

– Risk of time delays including of traditional trade

• Big challenge for other border agencies

• Emerging solutions led by private sector and governments: – Network of digital free trade zones with speedy

customs clearance

– Fulfilment centers using big data analytics to anticipate the demand and improve storage

– Increased the de minimis value while managing illegal traffic

Source: UPU

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New Ways to Deliver Services

59

Source: Adapted from Lopez Gonzales & Jouanjean (2017)

Border

Data flow

Data flow

Transport service

Matching services

Driver Consumer

Flow of funds

Border

Consumer

Business

Sharing service 3D printing

Ride-sharing platform

Flow of funds

Data flow

Design service

National and international policy implications

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National and International Policy Implications

Governments: National / International legal and regulatory issues:Electronic authentication; Consumer protection; Personal data protection; Unsolicited

commercial messages; Paperless trading; Cross-border transfer of information; Intellectual property; Data localization ...

1. Prerequisites

Internet / Electronic data interchange

Physical infrastructure

Network Devices (PC, phone …) …

ICT services Internet providers Website developers App developers Software/IT providers …

2. Transaction

Seller / Provider

Goods

Services

Online support services Payment solutions Financing Digital signatures …

3. Cross-border delivery

Bu

yer

Customs Duties Procedures

Transport and delivery

Logistics Distribution

Non-digital delivery

Digital delivery

Data flows

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National and International Policy Implications


Domestic policies

Regional Trade Agreements

International Cooperation

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Digital Technologies Challenges

• Privacy

• Market concentration

• Productivity puzzle

• Digital divide– Regulatory divide

– Gender divide

– Small and big firms divide

– High and low skilled workers divide

63

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Domestic Policies

• Investment in relevant physical and digital infrastructure

• Establishment of a regulatory environment promoting electronic commerce while addressing public policy objectives (e.g. cybersecurity, consumer protection or data privacy)

• Policy facilitating relevant skills development

• Trade and investment policies, including on telecommunications

• Competition and SME policies levelling the playing field for all firms

• IP-related policies

64

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International Cooperation

65

• Capacity building programmes on specific policy issues:

• Several international organisations serving as a forum for discussing and negotiating treaties:

– Customs procedures

– Domestic regulatory framework

– Intellectual property rights protection

─ Human capital development ─ ICT infrastructure

─ Regulatory framework ─ Competition

─ Intellectual property ─ SMEs’ participation

─ Sustainable development ─ Statistics

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World Trade Organization

66

• Moratorium on custom duties on electronic transmissions

• Work Programme on Electronic commerce

• General Agreement on Trade in Services (GATS)

• Customs Valuation Agreement (CVA)

• Information Technology Agreement (ITA)

• Trade Facilitation Agreement (TFA)

• Agreement on Agriculture

• Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement)

• Aid for Trade Initiative

• Joint Statement on Electronic Commerce

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Regional Trade Agreements

67

0

5

10

15

20

25

30

35

40

1990 1994 1998 2002 2006 2010 2014 2018

Nu

mb

er

of

main

typ

es o

f p

rovis

ion

s

rela

ted

to d

igit

al te

ch

nolo

gie

s

Year of signature

North-North RTA North-South RTA South-South RTA

TPP

AUS-SGP

CPTPP

CA-KOR

AUS-PERCOL-KOR

KOR-USA

PAN-USA

DOM-CA-USA

AUS-CHL

PER-USA

COL-USACHL-USAEU-SGP

AUS-KORCAN-KORAUS-SGP COL-CRI

PA EU-JPNEU-VNM

EU-CAN

KOR-PERAUS-USA

JOR-USA SGP-USA

MOR-USA BHR-USA

OMN-USA EU-KOR

SGP-LKAAUS-MYS

COL-EU

CHN-KOR

AUS-CHN

0

5

10

15

20

25

30

35

40

1990 1994 1998 2002 2006 2010 2014 2018

Nu

mb

er o

f m

ain

typ

es o

f p

rovis

ion

s

rela

ted

to d

igit

al te

ch

nolo

gie

s

Year of signature


TPP

AUS-SGP

CPTPP

CA-KOR

AUS-PERCOL-KOR

KOR-USA

PAN-USA

DOM-CA-USA

AUS-CHL

PER-USA



PA EU-JPNEU-VNM

EU-CAN

KOR-PERAUS-USA

JOR-USA SGP-USA

MOR-USA BHR-USA

OMN-USA EU-KOR

SGP-LKAAUS-MYS

COL-EU

CHN-KOR

AUS-CHN

0

5

10

15

20

25

30

35

40

1990 1994 1998 2002 2006 2010 2014 2018

Nu

mb

er o

f m

ain

typ

es o

f p

rovis

ion

s

rela

ted

to d

igit

al te

ch

nolo

gie

s

Year of signature


TPP

AUS-SGP

CPTPP

CA-KOR

AUS-PERCOL-KOR

KOR-USA

PAN-USA

DOM-CA-USA

AUS-CHL

PER-USA



PA EU-JPNEU-VNM

EU-CAN

KOR-PERAUS-USA

JOR-USA SGP-USA

MOR-USA BHR-USA

OMN-USA EU-KOR

SGP-LKAAUS-MYS

COL-EU

CHN-KOR

AUS-CHN

Source: Updated from Monteiro & Teh (2017)

JAM 68

Provisions on Electronic Commerce

Trade rules and market access to

digital trade

Domestic regulatory framework for

electronic commerce

Telecommunications regulatory issues

Intellectual property issues in digital

environment

RTAs’ provisions on electronic commerce

Electronic government

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RTAs Provisions on Trade Rules and Market Access of Digital Trade

0 10 20 30 40 50 60 70

Software source code protection

Location of computing facilities

Cross-border financial information flows

Cross-border information flows

Avoidance of trade barriers

Customs duties on digital products

Non-discriminatory treatment of digital products

Applicability of WTO rules

Number of RTAs


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RTAs Commitments on Services

0

10

20

30

40

50

60

70

80

90

Ind

ex s

core

GATS RTAsSource: Roy (2014)Note: Based on commitments undertaken by 53 WTO Members (counting EU as 1) on modes 1 and 3 in 67 services RTAs. The index score is brought within a scale of 0 to 100 for each sector, with 100 representing full commitments (i.e., without limitations) across all relevant sub-sectors.

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RTAs Provisions on Domestic Regulatory Framework on Electronic Commerce

0 10 20 30 40 50 60 70

Unsolicited commercial electronic messages

Cybersecurity

Personal information protection

Online consumer protection

Electronic authentication and signatures

Domestic regulatory framework

Number of RTAs

Source: Updated Trade Report 2018

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RTAs Provisions on Intellectual Property Issues in Digital Environment

0 20 40 60 80

Government use of software

Liability of Internet service providers

Internet domain names management

Digital trademark protection

Programme-carrying satellite/cable signals…

Right management information protection

Technological protection measures

Measures against repetitive infringements…

Reference to WIPO "Internet Treaties"

Copyrights protection in digital environment

Number of RTAs


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RTAs Provisions on Electronic Government

0 50 100 150

Electronic administration of the RTA'sarrangements

Electronic publication of information

Electronic government procurement

Electronic trademark registration system

Automated customs operations system

Electronic certificate of origin system

Paperless trading administration

Number of RTAs


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Network Analysis of Provisions on Electronic Commerce

74

Sou

rce

: Mo

nte

iro

an

d T

eh

(20

17

)N

ote

: Th

e s

ize

of

the

sh

ap

e a

sso

ciat

ed w

ith

ea

ch R

TA r

ep

rese

nts

th

e n

um

be

r o

f e-c

om

me

rce

pro

visi

ons

.

The

wid

th o

f ea

ch e

dge

me

asu

res

the

nu

mb

er

of s

imil

ar p

rovi

sio

ns

be

twe

en

two

RTA

s, w

hil

e t

he

o

pa

city

of e

ach

ed

ge c

ap

ture

s th

e le

vel o

f sim

ila

rity

(me

asu

red

by

the

Ja

ccar

din

de

x).

Conclusions

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Conclusions

76

• Cross-cutting nature of electronic commerce

• Challenges measuring (cross-border) electronic commerce

• Digital technologies not changing why firms trade but what and how firms trade– Positive impact of digital technologies on reduction in trade costs

– Growing importance of services trade

– Digital technologies likely to affect GVC development

• Electronic commerce covered by WTO rules

• Increasing number of RTAs with electronic commerce provisions

Thank You for Your Attention

[email protected]

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References

• Hongfei, Yue (2017), “National Report on E-commerce Development in China”, Inclusive and Sustainable Industrial Development Working Paper Series WP 17, Vienna: UNIDO.

• López Gonzalez, J. & Jouanjen, M.-A. (2017), “Digital Trade: Developing a Framework for Analysis”, OECD Trade Policy Papers, No. 205, Paris: OECD Publishing.

• McKinsey Global Institute (2016), “Digital Globalization: The New Era of Global Flows”, London: McKinsey & Company.

• Monteiro, J.-A. & Teh, R. (2017), “Provisions on Electronic Commerce in Regional Trade Agreements”, WTO Working Paper ERSD-2017-11, Geneva: WTO.

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