Vertical Specialization at the Time of Economic Crisis

Yoko Uchida and Satoshi Inomata

Chapter 4 in Asia Beyond the Global Economic Crisis, 2011 from Edward Elgar Publishing

Abstract: The characteristic feature of the recent global economic crisis is the speed and extent of the shock transmission. The development of cross-national production networks in recent years has significantly deepened the economic interdependency between countries, and a shock that occurs in one region can be swiftly and extensively transmitted to the rest of the globe. The sudden contraction of world trade and output was a negative outcome of this intertwined global economic system. Based on the method known as international input–output analyses, this book provides a detailed examination of the mechanics of shock transmission by probing the labyrinth of complex supply networks among nations.

Keywords: Asian Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2011
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