The Belt and Road Initiative is massive with a lot of potential, and number of positives. The disintegration of the mode of production of most countries across the globe has allowed the global dispersal of value-added activities in the production value chain networks. We examined the impact of global value chain on economic growth of Asian countries within the Belt and Road over the period of 2005 to 2017. We find robust evidence for a positive productivity effect from stronger GVC integration. Moreover, we find that relatively less productive countries can benefit more from GVC participation in terms of growth rate. Several policy recommendations support the findings.
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UCLG-ASPAC Committee on the Belt and Road Local Cooperation
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Secretariat of UCLG-ASPAC Committee on the Belt and Road Local Cooperation
Floor 18, Building C, Civic Center, 18 East Jiefang Road, Jianggan District, Hangzhou
secretariat-brlc@hzfao.gov.cn
Zip code: 310026
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The Belt and Road Initiative is massive with a lot of potential, and number of positives. The disintegration of the mode of production of most countries across the globe has allowed the global dispersal of value-added activities in the production value chain networks. We examined the impact of global value chain on economic growth of Asian countries within the Belt and Road over the period of 2005 to 2017. We find robust evidence for a positive productivity effect from stronger GVC integration. Moreover, we find that relatively less productive countries can benefit more from GVC participation in terms of growth rate. Several policy recommendations support the findings.
Click here for more content.
