International Fragmentation, Supply Chains, and Financial Frictions

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CfP Deadline Date:
September 1, 2022

Conference Event:
March 1-2, 2023

Event Location:
Santiago, Chile

National Bureau of Economic Research (NBER) and the Central Bank of Chile (Banco Central de Chile, BCC)

The late 20th and early 21st century experienced increasing international integration of trade and global finance, with growing interlinkages between the two.  These relationships have been under pressure since the global financial crisis, which led to changes in the structure of global banking.  Further stress has arisen from trade policy frictions and the uncertainty associated with threats of increased unilateralism, war, sanctions and retaliation. These developments have turned attention to the intricacies and fragilities of global supply chains and the important role of credit provision from financial institutions in them.  Studying the interdependencies between trade and finance can provide insights into where trade or financial shocks are likely to have contained effects, and where they are likely to result in spillovers or to be amplified in their impact.  Research can also provide a framework for understanding several emerging trends, such as the increase in digital commerce, re-nationalization, and tightening production linkages.

To address these and related issues, the National Bureau of Economic Research (NBER), with support from the Central Bank of Chile (Banco Central de Chile, BCC), will host a research conference in Santiago, Chile, on March 1-2,2023.  The conference will be organized by Sofia Bauducco (BCC) and NBER researchers Pol Antras (Harvard), Linda Goldberg (Federal Reserve Bank of New York), Sebnem Kalemli-Ozcan (University of Maryland), and Martin Uribe (Columbia University).  Papers that are selected for presentation will be considered for inclusion in a special issue of the Journal of International Economics with guest editor Shang-Jin Wei (Columbia University).

The conference will emphasize research on how shocks to international trade conditions, including policy uncertainty, affect credit provision and international financial linkages, as well as the reciprocal relationships between credit shocks and trade.  Potential topics for the research conference include, but are not limited to:

  • Consequences of international trade disruptions for cross-border credit provision and financial fragmentation.
  • Transmission of global supply chain shocks and international financial frictions into inflation and real activity, with impacts on monetary and fiscal policy.
  • The role of international financial integration in supporting international trade, and the consequences of fragmentation in financial markets in disrupting trade.
  • Interdependencies between global supply chains and finance.
  • The impact of trade and trade-related finance on prices and economic activity, particularly when analyzed from the vantage point of highly disaggregate data from credit registries, surveys of prices, or corporate accounts.

The organizers welcome the submission of both empirical and theoretical papers on these issues.  Papers may analyze current, past, or prospective policies, but in keeping with NBER restrictions, they may not make policy recommendations.  Submissions from scholars who are early in their careers, with and without NBER affiliations, and/or who are members of groups that have been historically under-represented in economics are welcome.

Further Information:

To be considered for inclusion on the program, papers must be uploaded by midnight Eastern time on September 1, 2022, to the following website:

Authors chosen to present papers at the conference will be notified by early October.  Please do not submit papers that will be published by March 2023.

The BCC and NBER will cover the cost of one author per paper attending the conference; all co-authors will be invited. Questions about conference logistics may be addressed to; questions about conference content may be addressed to Sebnem Kalemli-Ozcan at or Linda Goldberg at

Link CfP & Conference: International Fragmentation, Supply Chains, and Financial Frictions