G-7 and BRICS Countries in Global Value Chains

• Autorzy: Paweł Folfas
• Języki publikacji: EN

Abstrakty

EN

G-7 and BRICS countries play important roles in the world economy and global politics. The aim of the article is to answer the research question: "How participation of G-7 and BRICS countries in global value chains has been changing since 1995?". To answer this question global value chains participation indexes were calculated. They were derived from Inter-Country Input-Output Tables. The value-added of this study stems from employing Input-Output Tables delivered by two institutions (Organization for Economic Co-operation and Development and Asian Development Bank). Consequently, article presents indexes calculated on the basis of two datasets. Combining two databases enabled to conduct study for quite long period (1995-2022). Analyzing the changes of global value chains participation indexes of G-7 and BRICS countries, we can distinguish following phases of internationalization: period of rapid globalization (1995-2008), global crisis and economic rebound (2009-2011), period of slowbalization somewhat strengthened by coronacrisis (2012-2020), and another recovery (2021-2022). This finding lead us to the conclusion that fast internationalization came to a halt in 2008 and since global financial crisis globalization has been quite slow despite some periods of recovery. Thus, there is an implication for more detailed research on slowbalization - its grounds, tendencies and prospects (whether fast internationalization is possible in the future; what is the role of economic policy in stimulating the pace of globalization).(original abstract)

Słowa kluczowe

EN

Production fragmentation; Value chain; Export

PL

Fragmentacja produkcji; Łańcuch wartości; Eksport

• Czasopismo: Central European Review of Economics & Finance
• Rocznik: 2023
• Numer: Vol. 44, No 3
• Strony: 45--60

Twórcy

autor

Paweł Folfas

• Szkoła Główna Handlowa w Warszawie

Bibliografia

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Identyfikatory

DOI

10.24136/ceref.2023.013