Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/300530 
Authors: 
Year of Publication: 
2024
Publisher: 
SSRN, Rochester, NY
Abstract: 
This article underscores the immense potential for substantial economic growth and development that can be harnessed through effective participation in global value chains (GVCs). It emphasises the role of policymakers in adeptly navigating GVCs, prioritising tasks, exploring different forms of GVC governance, and fostering a conducive environment for foreign investments. By effectively managing power dynamics and supply chain risks, countries can attract valuable foreign investors, enhance market connectivity, and improve infrastructure and services, leading to significant economic growth. The potential benefits of GVC participation are vast, and policymakers can shape the situation by understanding and addressing strategic inquiries, laying the foundation for a prosperous future. Furthermore, the article explores the potential for a country to enhance its involvement in GVCs and progress to more lucrative activities by strengthening existing connections between GVCs and the local economy. By enhancing the capacity of local stakeholders to acquire knowledge, policymakers can play a crucial role in maximising the benefits from GVC spillovers, positively impacting a country's economic development.
Subjects: 
Global Value Chains
Trade Policy
Industrial Policy
International Political Economy
JEL: 
F13
L52
O24
O25
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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