Are global value chains receding? The jury is still out. Key findings from the analysis of deflated world trade in parts and components

Guillaume Gaulier, Aude Sztulman and Deniz Nal
Authors registered in the RePEc Author Service: Deniz Ünal

Working papers from Banque de France

Abstract: In this article, we examine the dynamics of Global Value Chains (GVCs) since the 2000s. Did it show a marked expansion up to the Great Recession and did GVCs begin a downturn in the 2010s? To better understand the evolution of GVCs at the world level, we use very detailed trade data for 2000 to 2016, which distinguishes different production stages along the GVC. In particular, among intermediate goods, we focus on Parts and Components (P&C) rather than semi-finished products since the manufacture of P&C corresponds to activities more embedded in GVCs. We control, also, for the global business cycle and price effects using an original production stages deflator based on detailed bilateral trade unit-values. This new GVC indicator shows moderate growth over the study period with no trend reversal.

Keywords: global value chains; parts and components P&C; trade in volume; electronics. (search for similar items in EconPapers)
JEL-codes: F14 F15 L60 (search for similar items in EconPapers)
Pages: 41 pages
Date: 2019
New Economics Papers: this item is included in nep-int
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Related works:
Journal Article: Are global value chains receding? The jury is still out. Key findings from the analysis of deflated world trade in parts and components (2020)
Working Paper: Are global value chains receding? The jury is still out. Key findings from the analysis of deflated world trade in parts and components (2020)
Working Paper: Are global value chains receding? The jury is still out. Key findings from the analysis of deflated world trade in parts and components (2019)
Working Paper: Are global value chains receding? The jury is still out. Key findings from the analysis of deflated world trade in parts and components (2019)
Working Paper: Are global value chains receding? The jury is still out. Key findings from the analysis of deflated world trade in parts and components (2019)
Working Paper: Are global value chains receding? The jury is still out. Key findings from the analysis of deflated world trade in parts and components (2019)
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