Template-type: ReDif-Paper 1.0
Author-Name: Gereffi, Gary 
Author-Email: ggere@soc.duke.edu 
Author-workplace-name: Center on Globalization Governance & Competitiveness,
	 Duke University, Durham, NC
Title: Global value chains, development and emerging economies
Abstract: In recent decades, profound changes in the structure of the global 
	 economy have reshaped global production and trade and have altered the 
	 organisation of industries and national economies into global value 
	 chains (GVCs). As GVCs became global in scope, more intermediate goods 
	 were traded across borders, and more imported parts and components were 
	 integrated into exports. In 2009, world exports of intermediate goods 
	 exceeded the combined export values of final and capital goods for the 
	 first time. New governance structures reinforce the organisational 
	 consolidation occurring within GVCs and the geographic concentration 
	 associated with the growing prominence of emerging economies as key 
	 economic and political actors. Emerging economies are playing 
	 significant and diverse roles in GVCs. During the 2000s, they were 
	 simultaneously major exporters of intermediate and final manufactured 
	 goods (China, South Korea, and Mexico) and primary products (Brazil, 
	 Russia, and South Africa). However, market growth in emerging economies 
	 has also led to shifting end markets in GVCs, as more trade has occurred 
	 between developing economies (often referred to as South-South trade in 
	 the literature), especially since the 2008-09 economic recession. China 
	 has been the focal point of both trends: it is the world's leading 
	 exporter of manufactured goods and the world's largest importer of many 
	 raw materials, thereby contributing to the primary product export boom. 
Keywords: Global Value Chains, Governance Structures, Economic development, Economic 
	 Upgrading, Social Upgrading, Emerging Economies, Industrial Policy, China 
Classification-JEL: F16, F23, L25, O14, O25
Series: UNU-MERIT Working Papers
Creation-Date: 20151201
Number: 2015-047
File-URL: https://unu-merit.nl/publications/wppdf/2015/wp2015-047.pdf
File-Format: application/pdf
File-Size: 275 kb
Handle: RePEc:unm:unumer:2015047