• 무역학회지
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• 제46권3호
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• pp.45-63
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• 2021

This paper investigates the effects of China's participation in global value chains (GVC) on the productivities focusing on the manufacturing industries. In this study, several indicators of participation in global value chains were used. These include GVC participation, forward GVC participation, backward GVC participation and GVC position index. In particular, we used the data obtained from 18 manufacturing industries in China during 15 years from 2000 to 2014. The main results of the analysis are as follows. First, the higher the degree of total participation in GVC, the higher the productivity. This means that with the increase in exports and imports of intermediate goods, productivity has increased through technology spillover effects or competition effects, and so on. Second, the backward participation does not increase the productivities significantly while forward participation leads higher productivity. Third, the productivity improvement effects of GVC participation was larger in the high-tech industries than in the low-tech industries. These results show that GVC participation was helpful for the economic growth of China and the efforts for moving toward upstream production stage in GVC is necessary for the improvement of international competitiveness in Chinese manufacturing industry.

• Journal of Korea Trade
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• 제26권6호
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• pp.96-117
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• 2022

Purpose - Considering the recent instability of world economy and its heavy dependence on foreign, Korea must formulate breakthrough approaches to proactively cope with these adverse global developments. As such, this study aims to ascertain how participation in global value chains (GVCs) relates to corporate productivity and derive policy implications. Design/methodology - This study utilizes the microdata of Korean manufacturers to develop indicators of GVC participation at the enterprise level and analyzes the effects of GVC participation on the firm's total factor productivity by using fixed effect model. Findings - Enterprises with highest rates of export-side GVC participation see their productivity grow as their export-side GVC participation rates increase. In addition, when companies are classified by their export-side GVC participation rates, increasing export values improves all firm's productivity. In particular, those with low participation rates are analyzed to achieve higher productivity by increasing their imports, not only exports, which implies that companies with lower export-side GVC participation can boost productivity by reinforcing their export and import activities. Originality/value - This research paper distinguishes itself from others in that it makes a novel attempt to design the indicators of GVC participation at the enterprise level, not at the national or industry level. In addition, this study contributes to the existing literature by dividing companies into subgroups depending on their GVC participation rates for each of export and import and identifying variances in the effect of GVC participation on productivity growth among subgroups.

• Journal of Korea Trade
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• 제27권2호
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• pp.22-46
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• 2023

Purpose - study aims to investigate the relationships between global value chain (GVC)- and transportation-related determinants and economic performance. Also, moderating effects of COVID-19 on the relationships are theoretically and empirically discussed. A limitation of previous studies includes their over-reliance on the opportunities of GVC participation and larger transportation. This study represents the challenges associated with them. Also, it shows how GVC and logistics can be difficult in case of a market fluctuation such as COVID-19. Design/methodology - The sample for this study includes 828 observations from 138 countries. A semi-panel data set has been used. Six observations for each country are used to empirically test the hypotheses and a Two-way cluster model is conducted. Findings - It is confirmed that GVC forward participation contributes more than the backward participation to enhance performance. Transportation infrastructure is critical, but large scales of marine and air transportations are not positive in terms of economic performance. Stricter government response to COVID-19 negatively moderates economic performance by GVC backward participation and transportation infrastructure. Originality/value - The spread of COVID-19 is causing a severe collapse of GVC and transportation. This study empirically verifies the moderating effects of the government stringency on GVC and transportation. Previous studies usually discuss a positive impact of GVC and transportation size on economic performance. However, this study aims to show various challenges behind GVC participation and large scale transportation.

• 무역학회지
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• 제45권4호
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• pp.153-169
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• 2020

This study compares and analyzes the effects of GVC participation on export competitiveness in manufacturing and service industry in 36 OECD countries and 28 non-OECD countries. According to the statistical analysis result, the GVC participation had a negative impact on export competitiveness in manufacturing industry, while it had a positive impact in the service industry. In the case of the manufacturing industry, participation toward the backward GVC had a positive impact on export competitiveness before the financial crisis, besides, participation toward the forward GVC had a positive impact on export competitiveness. In the case of the service industry, export competitiveness through forward GVC participation has increased since the financial crisis has occurred, and backward GVC participation was estimated to have a negative impact on export competitiveness. The results of this study implies that, to secure export competitiveness, a converged approach of the manufacturing and service industries to upgrade the global value chain is needed.

• 무역학회지
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• 제48권4호
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• pp.93-119
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• 2023

본 연구는 한국과 중국의 인플레이션에 대한 글로벌 가치사슬 참여도의 영향을 OLS 회귀분석으로 분석하고, 글로벌 금융위기 이후 한국과 중국을 비교하여 결과를 확인하였다. 연구 결과, 한국과 중국의 GVC 참여도는 인플레이션에 음(-)의 영향을 미치는 것으로 나타났다. 또한 전방참여도와 후방참여도로 나누어 분석한 결과, 한국과 중국의 전방참여도는 인플레이션에 음(-)의 영향을 미치며, 후방참여도는 인플레이션에 양(+)의 영향을 미치는 것으로 나타났다. 다음으로 글로벌 금융위기 이후에는 한국과 중국의 결과가 다소 차이를 보였다. GVC 참여도가 인플레이션에 미치는 영향은 한국과 중국에서 모두 유의하지 않은 것으로 나타났다. 그러나 전방 및 후방참여도로 나누어 분석한 결과, 중국은 대부분의 물가지표에서 유의한 효과가 나타나지 않는 반면, 한국은 전방 및 후방참여도의 영향이 오히려 확대되는 것으로 나타났다. 이는 중국의 경우 글로벌 금융위기 이후 대외 수요를 국내 수요로 전환하고자 하였으나, 수입 중간재를 국내 제품으로 대체하면서 GVC 참여도의 영향이 축소된 것으로 보인다. 반면 한국은 글로벌 금융위기 이후에도 크게 낮아지지 않은 GVC 참여도를 보이고 있기 때문에, 인플레이션에 대한 영향이 여전히 유의한 것으로 보인다.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.1217-1230
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• 2021

Using a multinomial logit model with the panel-data set of Vietnam manufacturing firms, this paper investigates the impacts of foreign direct investment (FDI) - small and medium enterprises (SMEs) linkages and other factors on SMEs' participation in the global value chain (GVC). We consider GVC firms are those engaging in any of the three modes including (i) using domestic inputs to export (D2E), (ii) using imported inputs to produce for the domestic market (I2P), (iii) using imported inputs to export (I2E). We discover that FDI-SME linkages statistically encourage Vietnamese SMEs to integrate into the GVC via I2P and I2E, while no statistical association between FDI-SME linkage and D2E participation is found. GVCs participation likelihood is also positively correlated with the introduction of new product introduction. The establishment of firms' production facilities in industrial zones and foreign ownership are both reported to be significantly decisive factors to SMEs' decisions on GVC participation. Besides, there is a strong association between firms' attributes, i.e. employment, capital intensity as well as financial access, and their participation in the GVC. Local governance quality (proxied by the Provincial Competitiveness Index) and the share of skilled labor at the province-level can facilitate firms' integration into GVCs, while greater market concentration may be a hurdle to such potential.

• 무역학회지
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• 제44권5호
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• pp.107-125
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• 2019

This study analyzes the effects of FDI on the global value chain (GVC) using participation and export value added using panel data from 2005 to 2016 for 63 countries. This study used the GLS method. Results are as follows: First, foreign direct investment had a positive impact on the global value chain (GVC) participation and export value added of non-OECD economies. Furthermore, tariff rates were more sensitive to non-OECD countries than OECD countries. In addition, logistics infrastructure had a negative impact on global value chain (GVC) participation and export value added, while developed countries, such as OECD countries, with good infrastructure, had a positive impact on non-OECD countries. Finally, research and development costs have been shown to play a very important role in non-OECD countries. This study found that various service sectors, such as research and development (R & D) as well as the general manufacturing industry, are expanding beyond two countries to form global value chains (GVC) in which several countries are connected from production to consumption.

• KDI Journal of Economic Policy
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• 제38권4호
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• pp.45-76
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• 2016

This paper measures the extent to which South Korea participated in global value chains (GVCs) from 1995 through 2011 and scrutinizes the consequences of such participation on the Korean economy. To this end, the World Input Output Database is utilized to calculate GVC income, GVC employment, and value-added exports created by Korean and foreign industries. Our findings show that Korea radically internationalized its production activities during the sample period, widening the gap between gross exports and value-added exports. We also document that Korea's participation in GVCs has changed the value-added and employment structures in domestic industries in accordance with their comparative advantages while exacerbating the degree of wage inequality.

• 무역학회지
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• 제48권1호
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• pp.1-27
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• 2023

본 연구는 국내 제조기업의 GVC 참여 유형과 거버넌스에 따른 수출성과를 실증분석한 것이다. KOSPI 상장기업의 패널자료를 바탕으로 관계투자, 정보교환, 혁신은 신뢰의 조절역할과 함께 공급망 통합수준과 기업성과에 영향을 미치는 것으로 분석되었다. 또한 공급망 통합 정도가 GSCM의 실적과 수출 실적에 영향을 미치는 것으로 나타났다. GVC 거버넌스 유형의 경우 통합강도가 높을수록 다른 유형에 비해 성과가 높은 것으로 분석되었다. 이러한 결과는 신뢰 기반의 공급망 통합과 지속적인 GVC 투자가 매우 중요함을 보여준다. 이는 높은 통합 강도와 함께 높은 수준의 GVC 거버넌스가 성공적인 GSCM 성과로 이어질 수 있음을 설명한다. GVC 참여기업의 관계역량과 신뢰도에 기반한 혁신적인 투자전략은 글로벌 파트너십 형성 및 통합 정도에 긍정적인 영향을 미칠 수 있다.

• 무역학회지
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• 제46권3호
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• pp.25-44
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• 2021

This paper analyzes the impact of the recent change in global value chain on the productivity of manufacturing sectors and firms in Chungnam area using ADB MRIO. Forward participation significantly increases sector productivity in Chungnam area and backward participation affects the sector productivity after 2015. In the analysis for firm productivity in Chungnam area, GVC participation does not enhance the productivity of firms in Chungnam area. However, firms in the top 25% of productivity in 2007 improved their productivity with higher GVC participation and the productivity of firms in the top 25% of asset in 2007 was positively affected by forward pariticipation and negatively affected by backward participation. The productivity of firms that were in international market in 2007 was significantly worsened by GVC participation.