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Review of Industrial Organization

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19-06-2020

Global Value Chains: Inter-Industry Linkages, Trade Costs and Policies

Author: Bernard Hoekman

Published in: Review of Industrial Organization | Issue 2/2020

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The concept of the “global value chain” (GVC) has become popular as a description of the way that firms fragment production into various stages located in different economies. The result was characterized in 2010 by then Director-General of the WTO, Pascal Lamy, as products being “made in the world.”¹ A basic feature of international production is that part—often much—of the value added that is embodied in a good is produced in many countries: Inputs that are sourced from all over the world are incorporated into a final product that in turn may be shipped all over the world. …

next article Made in the World? Global Value Chains in the Midst of Rising Protectionism

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See https://www.wto.org/english/news_e/sppl_e/sppl174_e.htm.

The Global Trade Alert website provides detailed information on the use of such policies since 2008. See https://www.globaltradealert.org/.

Antras, P., & Chor, D. (2013). Organizing the global value chain. Econometrica, 81(6), 2127–2204.CrossRef

Fontagné, L., & Santoni, G. (2018). GVCs and the endogenous geography of RTAs. CEPII Working Paper No 2018-05.

Hoekman, B. (Ed.). (2015). The global trade slowdown: A new normal?. London: CEPR Press.

Nunn, N. (2007). Relationship-specificity, Incomplete contracts, and the pattern of trade. Quarterly Journal of Economics, 122(2), 569–600.CrossRef

Ramondo, N., Rappoport, V., & Ruhl, K. (2016). Intrafirm trade and vertical fragmentation in U.S. Multinational Corporations. Journal of International Economics, 98, 51–59.CrossRef

World Bank. (2020). Trading for development in the age of global value chains. World Development Report 2020. Washington, DC: World Bank.

Title: Global Value Chains: Inter-Industry Linkages, Trade Costs and Policies
Author: Bernard Hoekman
Publication date: 19-06-2020
Publisher: Springer US
Published in: Review of Industrial Organization / Issue 2/2020
Print ISSN: 0889-938X
Electronic ISSN: 1573-7160
DOI: https://doi.org/10.1007/s11151-020-09767-x

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Services Input Intensity and US Manufacturing Employment Responses to the China Shock

Policy Uncertainty, Trade and Global Value Chains: Some Facts, Many Questions

Footloose Global Value Chains: How Trade Costs Make a Difference

Backward and Forward Integration Along Global Value Chains

The Gravity of Intermediate Goods

Make or Buy: Offshoring of Services Functions in Manufacturing