EconPapers    
Economics at your fingertips  
 

On the Restructuring of Global Semiconductor Supply Chains

Shota Miki and Yoichiro Tamanyu
Additional contact information
Shota Miki: Bank of Japan

No 24-E-6, Bank of Japan Working Paper Series from Bank of Japan

Abstract: This paper provides an overview of the ongoing restructuring of global semiconductor supply chains and investigates how long-term developments in competitiveness between trading countries as well as recent changes in trade policies have affected this restructuring. Using as an example the U.S. tariff hikes against China during 2018-19, which serves as a natural experiment, we first confirm that the stylized facts shown in previous studies--that China's exports to the U.S. decreased significantly, while bystander countries not directly involved in the tariff hikes increased their exports to the U.S.--hold true for semiconductor-related products. Then, to further examine the restructuring of global semiconductor supply chains, we calculate the upstreamness--the distance from final use--of each country's exports in the supply chain, and examine how this has evolved over time and how it can be related to wage differences between those countries. We find that export upstreamness is positively correlated with the wage gap between the trading countries and confirm that this tendency existed well before the recent tariff hikes. These observations imply that the restructuring of global semiconductor supply chains is not led solely by the direct consequences of the tariff hikes, but also by the endogenous response to changes in comparative advantage between the countries involved in the supply chain.

Keywords: Tariffs; Semiconductors; Global supply chains; Upstreamness (search for similar items in EconPapers)
JEL-codes: F13 F14 (search for similar items in EconPapers)
Date: 2024-06-26
New Economics Papers: this item is included in nep-cna and nep-int
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.boj.or.jp/en/research/wps_rev/wps_2024/data/wp24e06.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:boj:bojwps:wp24e06

Access Statistics for this paper

More papers in Bank of Japan Working Paper Series from Bank of Japan Contact information at EDIRC.
Bibliographic data for series maintained by Bank of Japan ().

 
Page updated 2025-03-30
Handle: RePEc:boj:bojwps:wp24e06