Export And Productivity In Global Value Chains
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| Author | : Hang T. Banh |
| Publisher | : International Monetary Fund |
| Total Pages | : 41 |
| Release | : 2020-07-03 |
| Genre | : Business & Economics |
| ISBN | : 1513542303 |
The COVID-19 pandemic has led to an unprecedented collapse in global economic activity and trade. The crisis has also highlighted the role played by global value chains (GVC), with countries facing shortages of components vital to everything from health systems to everyday household goods. Despite the vulnerabilities associated with increased interconnectedness, GVCs have also contributed to increasing productivity and long-term growth. We explore empirically the impact of GVC participation on productivity in Estonia using firm-level data from 2000 to 2016. We find that higher GVC participation at the industry level significantly boosts productivity at both the industry and the firm level. Frontier firms, large firms, and exporting firms also benefit more from GVC participation than non-frontier firms, small firms, and non-exporting firms. We also find that GVC participation of downstream industries has a negative correlation with productivity. Frontier firms and large firms benefit more from GVC participation of upstream industries, while non-frontier firms and small firms benefit more from GVC participation of downstream industries. Our results suggest that policies designed to promote participation in GVCs are important to raise aggregate productivity and potential growth in Estonia.
| Author | : World Bank |
| Publisher | : World Bank Publications |
| Total Pages | : 545 |
| Release | : 2019-11-19 |
| Genre | : Business & Economics |
| ISBN | : 1464814953 |
Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
| Author | : Swarnali Ahmed |
| Publisher | : International Monetary Fund |
| Total Pages | : 28 |
| Release | : 2015-11-30 |
| Genre | : Business & Economics |
| ISBN | : 1513560972 |
This paper analyzes how the formation of Global Value Chains (GVCs) has affected the exchange rate elasticity of exports. Using a panel framework covering 46 countries over the period 1996-2012, we first find some suggestive evidence that the elasticity of real manufacturing exports to the Real Effective Exchange Rate (REER) has decreased over time. We then examine whether the formation of supply chains has affected this elasticity using different measures of GVC integration. Intuitively, as countries are more integrated in global production processes, a currency depreciation only improves competitiveness of a fraction of the value of final good exports. In line with this intuition, we find evidence that GVC participation reduces the REER elasticity of manufacturing exports by 22 percent, on average.
| Author | : Gary Gereffi |
| Publisher | : Cambridge University Press |
| Total Pages | : 497 |
| Release | : 2018 |
| Genre | : Business & Economics |
| ISBN | : 1108471943 |
Studies conceptual foundations of GVC analysis, twin pillars of 'governance' and 'upgrading', and detailed cases of emerging economies.
| Author | : Ms.Faezeh Raei |
| Publisher | : International Monetary Fund |
| Total Pages | : 31 |
| Release | : 2019-01-18 |
| Genre | : Business & Economics |
| ISBN | : 1484395484 |
Over the last two decades, world trade and production have become increasingly organized around global value chains (GVC). Recent theoretical work has shown that countries can benefit from participation in GVCs through multiple channels. However, little is known empirically about the economic importance of supply chains. We use the Eora MRIO database to compute different measures of GVC participation for 189 countries and illustrate global patterns of supply chains as well as their evolution over time in order to contribute to this topic. We find that GVC-related trade, rather than conventional trade, has a positive impact on income per capita and productivity, however there is large heterogeneity and the gains appear more signifcant for upper-middle and high-income countries. We document that “moving up” to more high-tech sectors while participating in major supply chains does take place but is not universal, suggesting other factors matter. We confirm the findings of the standard gravity literature for GVC trade; highlighting the key role of institutional features such as contract enforcement and the quality of infrastructure as determinants of GVC participation.
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 222 |
| Release | : 2017-07-17 |
| Genre | : |
| ISBN | : 9264279172 |
The 32nd issue of the International Productivity Monitor is a special issue produced in collaboration with the OECD. All articles published in this issue were selected from papers presented at the First Annual Conference of the OECD Global Forum on Productivity held in Lisbon, Portugal, July ...
| Author | : Patrick Low |
| Publisher | : World Scientific |
| Total Pages | : 784 |
| Release | : 2016-06-21 |
| Genre | : Business & Economics |
| ISBN | : 9813141476 |
This compilation of 22 firm-specific case studies is an important contribution to the discussion of 'servicification' trends in manufacturing. 'Services have increased in importance and value in many manufacturing value chains, making companies that produce physical products look more like service enterprises. What services do global value chains use in their operations, how important are they and how do economic policies shape firms' configurations, operations, and location of global value chains? This book addresses these questions and more.The interviewed firms, based in 12 APEC economies, come from different sectors ranging from multinational automotive, construction equipment, and electrical appliance manufacturers to small and medium manufacturers of watches or chemical for water treatment. The book analyses what specific services are important in different stages of the value chain, and whether they are typically provided in-house or outsourced.
| Author | : World Trade Organization |
| Publisher | : World Trade Organization |
| Total Pages | : 0 |
| Release | : 2017 |
| Genre | : Political Science |
| ISBN | : 9789287041258 |
This report is about a huge contribution to our deepening understanding of what the global economy really means and how it is changing. The report helpfully distinguishes elements of an economy that are tradable and the large set that are non-tradable. Clearly the tradables set is expanding with the support of enabling technology. The report argues that connectivity in the networks that define the evolving architecture of GVCs is important. This Global Value Chain Development Report is the result of intensive and detailed work in assembling and analyzing data on the structure of economies and on how they are linked. It creates a much clearer picture of evolving patterns of independence. It also presents a much clearer picture of comparative advantage. --Publisher description.
| Author | : Banque asiatique de développement |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2022-01-25 |
| Genre | : Business logistics |
| ISBN | : 9789287054296 |
A radical shift is underway in global value chains as they increasingly move beyond traditional manufacturing processes to services and other intangible assets. Digitization is a leading factor in this transformation, which is being accelerated by the coronavirus disease (COVID-19) pandemic. The Global Value Chain Development Report, the third of a biennial series, explores this shift beyond production. The report shows how the rise of services value chains offers a new path to development and how protectionism and geopolitical tensions, environmental risks, and pandemics are undermining the stability of global value chains and forcing their reorganization geographically. It is co-published by the WTO, the Asian Development Bank, the Research Institute for Global Value Chains at the University of International Business and Economics, the Institute of Developing Economies, and the China Development Research Foundation.
| Author | : Inter-American Development Bank |
| Publisher | : Springer |
| Total Pages | : 366 |
| Release | : 2016-07-01 |
| Genre | : Business & Economics |
| ISBN | : 1349581518 |
This volume uses the study of firm dynamics to investigate the factors preventing faster productivity growth in Latin America and the Caribbean, pushing past the limits of traditional macroeconomic analyses. Each chapter is dedicated to an examination of a different factor affecting firm productivity - innovation, ICT usage, on-the-job-training, firm age, access to credit, and international linkages - highlighting the differences in firm characteristics, behaviors, and strategies. By showcasing this remarkable heterogeneity, this collection challenges regional policymakers to look beyond one-size-fits-all solutions and create balanced policy mixes tailored to distinct firm needs. This book is open access under a CC BY-NC-ND 3.0 IGO license.
