Revisiting growth accounting from a trade in value-added perspective

Hubert Escaith

No ERSD-2016-01, WTO Staff Working Papers from World Trade Organization (WTO), Economic Research and Statistics Division

Abstract: Global Manufacturing and International Supply Chains changed the way trade and international economics are understood today. The present essay builds on recent statistical advances to suggest new ways of looking at the demand and supply side approaches when Global Value Chains (GVCs) - articulating supply and demand chains from an international perspective - are taken into consideration. This pilot case focuses on the G-20 countries, a group of leading developed and developing economies which took a prominent role in fostering and managing global economic governance. The paper is organised into two independent parts. The demand dynamics is first analysed through a growth-accounting decomposition, then through the long term determinants of income elasticity of imports. The second part looks at the implications of global manufacturing for our understanding of the supply-side growth dynamics, privileging a trade perspective: the definition of comparative advantages and the potential for value-chain upgrading.

Keywords: global value chains; trade and development; growth accounting; import elasticity; revealed comparative advantages; competitiveness benchmarking (search for similar items in EconPapers)
JEL-codes: C18 C67 F14 F19 F43 F63 O11 O19 O41 O47 O57 (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-ino and nep-int
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:wtowps:ersd201601

DOI: 10.30875/4c06bd42-en

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