Summary Report - Workshop on Effective Domestic Policymaking for Stimulating Economic Upgrading Through Global Value Chains 2022

2022.

Kanaev E., Daniltsev A. V., Glazatova M., Podvyaznikova A.

Leading author: Daniltsev A. V.

The emergence of global value chains (hereinafter – GVCs) has allowed economies to reduce production costs and increase their product competitiveness by utilizing production opportunities in economies where locational advantages confer a competitive benefit. Effective participation in GVCs also favor faster industrialization and technological development of economies due to increased transfer of technical knowledge, skills and expertise. Both developed and developing economies can benefit from the participation in the GVCs, however, not all economies and businesses are equally involved in the GVCs and are able to fully extract potential benefits that participation in global production processes could offer. At the same time, a more “profitable” participation can be ensured by effective domestic policymaking, which also has to account for all the modernday developments in the global economy, including, among others, the fourth industrial revolution. Therefore, to promote effective participation in the GVCs’, domestic policies need to address a combination of spheres, including domestic policies that create an enabling environment for businesses, infrastructure, intellectual property protection, human capital and education, business environment and competition, macroeconomic and financial stability, innovation and technology. With the aim to analyze current development trends of GVCs and potential challenges that impede APEC economies’ ability to upgrade through GVCs and identify ways to address them, including through reviewing the APEC economies’ existing domestic policies and best practices, the virtual “Workshop on Effective Domestic Policymaking for Stimulating Economic Upgrading through Global Value Chains” was held on 1-2 March 2022. It was hosted by Russia and co-sponsored by Chile; China; Indonesia; Malaysia; the Philippines; and Viet Nam.

Chapters

The Asia-Pacific Global Value Chain Transformation

Kanaev E., , in: Summary Report - Workshop on Effective Domestic Policymaking for Stimulating Economic Upgrading Through Global Value Chains 2022.: [б.и.], 2022.

The Asia-Pacific value chains are undergoing a profound transformation amidst the COVID-19 pandemics. To trace this process is a timely and relevant task. ...

Added: July 18, 2024

Keywords: APEC, trade policy, Global Value Chains (GVC)