Download or read book Measuring Competitiveness in a World of Global Value Chains written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 2018-11-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: All common real effective exchange rate indexes assume trade is only in final goods, despite the growing presence of global supply chains. Extending effective exchange rate indexes to include such intermediate goods can imply radically different effective exchange rate weights, depending on the relative substitutability of goods in final demand and in production. Unfortunately, the effect of these shifts in weights are difficult to identify empirically because the two currencies most affected—the dollar and the renminbi—have moved closely together. As the renminbi becomes more flexible, however, it will be important to determine which assumptions are the most realistic.
Download or read book Measuring and Analyzing the Impact of GVCs on Economic Development written by World Trade Organization and published by World Trade Organization. This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report is about a huge contribution to our deepening understanding of what the global economy really means and how it is changing. The report helpfully distinguishes elements of an economy that are tradable and the large set that are non-tradable. Clearly the tradables set is expanding with the support of enabling technology. The report argues that connectivity in the networks that define the evolving architecture of GVCs is important. This Global Value Chain Development Report is the result of intensive and detailed work in assembling and analyzing data on the structure of economies and on how they are linked. It creates a much clearer picture of evolving patterns of independence. It also presents a much clearer picture of comparative advantage. --Publisher description.
Download or read book Measuring Competitiveness written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 2013-05-08 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: With global supply chains, any value added or production task can be traded as part of goods. This means that competitiveness can be measured either in terms of “tasks” (Bems and Johnson, 2012), or goods, but with goods prices reflecting the cost of tasks embedded in those goods. We show that when measuring competitiveness in goods, the formula used in computing the real effective exchange rates at the IMF (Bayoumi, Lee, and Jayanthi, 2005) needs to be expressed in terms of the price of value added and needs an additional term, which captures a gain or loss in competitiveness of goods due to outsourcing.
Download or read book Measuring Competitiveness in a World of Global Value Chains written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 2018-11-05 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: All common real effective exchange rate indexes assume trade is only in final goods, despite the growing presence of global supply chains. Extending effective exchange rate indexes to include such intermediate goods can imply radically different effective exchange rate weights, depending on the relative substitutability of goods in final demand and in production. Unfortunately, the effect of these shifts in weights are difficult to identify empirically because the two currencies most affected—the dollar and the renminbi—have moved closely together. As the renminbi becomes more flexible, however, it will be important to determine which assumptions are the most realistic.
Download or read book Interconnected Economies Benefiting from Global Value Chains written by OECD and published by OECD Publishing. This book was released on 2013-05-28 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines how global value chains have evolved and the policy challenges they have created.
Download or read book Prices of Value Added and Competitiveness in Global Value Chains written by Maciej J. Grodzicki and published by . This book was released on 2018 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Measuring international competitiveness is a highly contested issue in contemporary economics. The emergence of global value chains limits the accuracy of traditional export-based measures and calls for the employment of techniques capable of accounting for value added input of individual economies into global production and trade.The paper aims to contribute to the global value chains literature by developing a framework both for distinguishing diverse modes of competitiveness and for the identification of successful cases of upgrading. It adapts an established method of export price comparisons to the context of global value chains and proposed a bi-dimensional technique based on the dynamics of the volumes and prices of GVC Income. As it concerns the technical side of the paper, it takes advantage of an input-output analysis and additive decomposition technique in order to disentangle the value-added-based measure of GVC Income, as well as the prices and volumes components of its dynamics.Empirical analysis, based on World Input-Output Database, demonstrates that countries di er signi cantly not only in terms of total GVC income dynamics, but also in terms of the modes chosen to build their competitive position in the global economy. In particular, upgrading throughout the period was achieved only by a few Central, Eastern European and emerging countries. The chances of successfully upgrading changed drastically in time, with the stage of the global business cycle and the balance between global demand and supply. In particular, catching-up possibilities by upgrading, strong in early 2000's, decreased signi cantly after the Economic Crisis. The key reason, next to weak demand, that stands behind these developments is the impressive expansion of China, which has been on an upgrading path since 2005.
Download or read book Trade Interconnectedness The World with Global Value Chains written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2013-08-27 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this paper is to address the implications of Global Value Chains (GVCs) for the Fund’s surveillance work. The paper first draws on the World Input-Output Database (WIOD) to document the dynamics of trade linkages between countries and regions through GVCs and its impact on the real economy. The paper then examines the implications of GVCs for the real effective exchange rate (REER), a key tool used at the Fund for bilateral as well as multilateral surveillance work, and shows the potential benefit of revisiting the REER formula in light of the increasing relevance of GVCs. The paper ends with implications of GVCs for trade and trade-related policies and the multilateral trading system
Download or read book Global Value Chains What are the Benefits and Why Do Countries Participate written by Ms.Faezeh Raei and published by International Monetary Fund. This book was released on 2019-01-18 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last two decades, world trade and production have become increasingly organized around global value chains (GVC). Recent theoretical work has shown that countries can benefit from participation in GVCs through multiple channels. However, little is known empirically about the economic importance of supply chains. We use the Eora MRIO database to compute different measures of GVC participation for 189 countries and illustrate global patterns of supply chains as well as their evolution over time in order to contribute to this topic. We find that GVC-related trade, rather than conventional trade, has a positive impact on income per capita and productivity, however there is large heterogeneity and the gains appear more signifcant for upper-middle and high-income countries. We document that “moving up” to more high-tech sectors while participating in major supply chains does take place but is not universal, suggesting other factors matter. We confirm the findings of the standard gravity literature for GVC trade; highlighting the key role of institutional features such as contract enforcement and the quality of infrastructure as determinants of GVC participation.
Download or read book World Development Report 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-19 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
Download or read book Interconnected Economies Benefiting from Global Value Chains written by OECD and published by OECD Publishing. This book was released on 2013-09-10 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines how global value chains have evolved and the policy challenges they have created.
Download or read book Global Value Chains in a Changing World written by Deborah Kay Elms and published by . This book was released on 2013 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of papers by some of the world's leading specialists on global value chains (GVCs). It examines how GVCs have evolved and the challenges they face in a rapidly changing world. The approach is multi-disciplinary, with contributions from economists, political scientists, supply chain management specialists, practitioners and policy-makers. Co-published with the Fung Global Institute and the Temasek
Download or read book Joining Upgrading and Being Competitive in Global Value Chains written by O. Cattaneo and published by . This book was released on 2013 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, global value chains have played an increasing role in business strategies, profoundly affecting international trade and development paradigms. Global value chains now represent a major source of socio-upgrading opportunities and a new path for development. Trade, competitiveness and development policies should be reshaped accordingly to seize these opportunities and avoid the risks associated with greater participation in global value chains. This paper provides a framework and analytical tools for measuring and improving a country's performance with respect to participation in global value chains. With a clear operational focus, it provides guidance for countries willing to join, maintain participation, and/or move up global value chains. With the ultimate objective to increase the value (the development content) for trade, it also offers strategies to maximize the benefits and minimize the risks of developing countries' participation in global value chains.
Download or read book Uncovering Value Added In Trade New Approaches To Analyzing Global Value Chains written by Yuqing Xing and published by World Scientific. This book was released on 2015-07-13 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value chain trade has challenged economic implications of conventional trade statistics and transformed bilateral trade relationships into multilaterals. Conventional trade statistics exaggerate trade volumes and bilateral trade imbalances. It is imperative to measure trade in value-added and examine trade relations in the context of global value chains. This book is a collection of research papers on new approaches to measure trade in value added and the role of global value chains in modern international trade. It introduces the input output method for measuring trade and a direct approach for measuring the domestic value added of the People's Republic of China — the center of global assembly. In addition, it shows how to analyze trade relations in the context of global value chains.
Download or read book Joining Upgrading and Being Competitive in Global Value Chains written by Olivier Cattaneo and published by . This book was released on 2017 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, global value chains have played an increasing role in business strategies, profoundly affecting international trade and development paradigms. Global value chains now represent a major source of socio-upgrading opportunities and a new path for development. Trade, competitiveness and development policies should be reshaped accordingly to seize these opportunities and avoid the risks associated with greater participation in global value chains. This paper provides a framework and analytical tools for measuring and improving a country's performance with respect to participation in global value chains. With a clear operational focus, it provides guidance for countries willing to join, maintain participation, and/or move up global value chains. With the ultimate objective to increase the value (the development content) for trade, it also offers strategies to maximize the benefits and minimize the risks of developing countries' participation in global value chains.
Download or read book Handbook on Global Value Chains written by Stefano Ponte and published by Edward Elgar Publishing. This book was released on 2019 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global value chains (GVCs) are a key feature of the global economy in the 21st century. They show how international investment and trade create cross-border production networks that link countries, firms and workers around the globe. This Handbook describes how GVCs arise and vary across industries and countries, and how they have evolved over time in response to economic and political forces. With chapters written by leading interdisciplinary scholars, the Handbook unpacks the key concepts of GVC governance and upgrading, and explores policy implications for advanced and developing economies alike. p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 10.0px Arial}
Download or read book Measuring What Matters in Global Value Chains and Value Added Trade written by Alessandro Borin and published by . This book was released on 2019 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The spread of global value chains (GVCs) has given rise to new statistical tools, the Inter-Country Input-Output tables and new analytical frameworks aimed at properly identifying production linkages between and within economies. However, several important questions remain unaddressed. This paper proposes a new toolkit for value-added accounting of trade flows at the aggregate, bilateral, and sectoral levels that can be used to investigate a broad set of empirical questions-including an assessment of the share of trade related to GVCs. The paper shows how different empirical issues require distinct accounting perspectives, and maps these methodologies onto the economic questions they are best suited to address. In this way, in addition to providing novel tools, the paper brings a large part of the related literature under one comprehensive framework.
Download or read book Competitiveness Of Nations 1 The Navigating The Us china Trade War And The Covid 19 Global Pandemic written by Dong-sung Cho and published by World Scientific. This book was released on 2022-05-25 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the existing reports on national competitiveness and rankings such as IMD World Competitiveness Yearbook and WEF Global Competitiveness Report, there are sizable discrepancies in the ranking order for the same countries. As a result, the reader is often confused because such an outcome creates difficulties for government officials when translating these findings into real-world policies. These discrepancies are actually due to the differences in logic and analytical models used by IMD and WEF. Therefore, in recognizing the problems and limitations of these models, this book presents the IPS model as a new approach. As an extension of Michael Porter's diamond model, it demonstrates a robust set of methodologies as well as offers a number of key policy implications for countries around the world that wish to enhance their national competitiveness.The analytical tools used in this book can be further utilized for other units of analysis such as industries and firms. As this book provides a series of sophisticated methodologies and specific guidelines for enhancing national competitiveness, both academics and practitioners can derive useful implications from this research. Alongside the theoretical frameworks and methodologies for national competitiveness presented in this book, timely topics are included such as the COVID-19 global pandemic and the US-China trade war. This book also includes various country-specific real-world cases that are assessed from the perspective of both developed and developing countries.
