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Global Value Chains and World Trade

Prospects and Challenges for Latin America

image of Global Value Chains and World Trade

The analysis of how Latin American and Caribbean economies participate in different segments of GVCs is at the heart of the current work agenda of the Economic Commission for Latin America and the Caribbean, which focuses on how structural change and productivity gains can promote economic development with equality. This volume builds on the relevant literature and suggests that the movement of firms to higher value added activities in GVCs requires them to step up their innovation efforts and develop new products and processes. Success in improving market shares and value added will depend, however, on which firms innovate most. Hence, innovation is a necessary but insufficient for increasing value added and market shares. Evidence suggests that since the 2008 economic crisis, the participation of Latin America and the Caribbean in global production networks has increased.

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Brazilian production sharing and implications for production integration in South America

Internationalization of production has been one of the main features of the global economy since the early 1990s, propelled by globalization of finance, better communication technologies and more efficient transport logistics. Production has evolved from an intra-firm activity to a cross-border process with different companies and countries involved. This trend has been particularly evident in East Asia and China in the past two decades with that region becoming one of the main hubs for global outsourcing and production networks in electronics, vehicles, and machinery industries, in which Japanese, European and American companies play a dominant role.

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