Do global value chains enhance or slog economic growth?

Bhushan Praveen Jangam · Badri Narayan Rath

41 citations0/0 files storedApplied Economics

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Global trade and economics Economic Growth and Productivity Global trade, sustainability, and social impact

Abstract

This paper examines the link between trade and economic growth by emphasizing on recent progress of global value chains (GVCs) for a sample of 58 countries over the period 2005–2015. The findings show that trade and in particular trade linked to GVCs spurs economic growth. However, the impact of GVC engagement on economic growth is diverse as we broaden our analysis to sectoral level. The study also notes that the benefits associated with regional value chains are higher. Furthermore, functional specialization in trade also plays a key role in improving growth. Therefore, policies to promote the GVC engagement and strengthening the domestic fundamentals should be the aim for countries to further benefit from trade.

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References

1998Initial conditions and moment restrictions in dynamic panel data models 1990Endogenous Technological Change 1992Innovation and growth in the global economy 2001The nature and growth of vertical specialization in world trade 2004Does Foreign Direct Investment Increase the Productivity of Domestic Firms? In Search of Spillovers Through Backward Linkages 2002How does insertion in global value chains affect upgrading in industrial clusters?2002Dynamic panel data models: a guide to micro data methods and practice 2006Globalization and the Gains From Variety

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