Reaping the Benefits from Global Value Chains

Kevin Cheng, Sidra Rehman, Dulani Seneviratne and Shiny Zhang

No 2015/204, IMF Working Papers from International Monetary Fund

Abstract: Against the backdrop of the rise of global value chains (GVCs), particularly in Asia, this paper documents key developments of GVCs and investigates what factors cause economies to reap greater benefits from GVC participation. Key findings include: first, moving toward a more upstream position in production and raising economic complexity are associated with the country increasing its share of GVC value added. Second, fostering GVC participation and expanding the share of the domestic value added in a value chain require efforts to reduce trade barriers, enhance infrastructure, foster human capital formation, support research and development, and improve institutions.

Keywords: WP; trade barrier; Global Value Chains; GVC; Economic Complexity; Growth; GVC participation; high-tech manufacturing; low-tech manufacturing; GVC pie; participation indices; industry Fe; Manufacturing; Tariffs; Exports; Human capital; Asia and Pacific; Global (search for similar items in EconPapers)
Pages: 24
Date: 2015-09-28
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Citations: View citations in EconPapers (28)

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