Global Value Chains: A View from the Euro Area

Abstract

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Exploring Price and Non-Price Determinants of Trade Flows in the Largest Euro-Area Countries

“…Whereas elasticities are on average around 0.4-0.5 in Italy, Germany and France, they are higher for Spain (0.7 approximately). This evidence is consistent with computations in Amador, Cappariello and Stehrer (2013), which point to a higher share of foreign value added in exports since 2000 in Spain relative to the other three countries. Domestic demand also plays a key role in activating imports, with an elasticity far greater than unity across all countries.…”

Trade in Value Added (TiVA) in EU New Member States (EU NMS)

“…Amador, Cappariello and Stehrer (2015) present similar findings in their analysis of the GVC in the eurozone-they also identify Germany as the main country playing a pivotal role in the production linkages.…”

“…They demonstrate that such production-for-the-global-market activities are important sources of labor productivity growth and account for a quarter of labor productivity growth in Europe. Amador, Cappariello and Stehrer (2015) determined that in 2011, considering the eurozone members (taken as a whole), GVCs were as important as in China and more important than in the US and Japan. The high relevance of GVCs in the eurozone, measured by the share of foreign value added in exports, is accompanied by their comparatively stronger resilience in the face of the trade collapse.…”

Cadeias globais de valor: uma análise do efeito transbordamento da indústria automobilística brasileira para os anos de 2000 e 2014

“…Em 2014 houve um aumento de 8% na média dos multiplicadores em relação ao ano de 2000, o que fomenta ainda mais as hipóteses de Grossman e RossiHansber (2006) Baldwin e Lopes-Gonzales (2013) e Amador et al (2015). Outro fato interessante é que a China obteve o maior multiplicador também em 2014 (3,59) indo de encontro com a pesquisa de Marconi et al(2014) onde o autor destacou que os multiplicadores chineses foram os maiores e concluindo que a China possui o maior grau de integração da estrutura produtiva do mundo.…”

“…No entanto, existia certa dificuldade de calcular a real extensão dos benefícios das CGV, pois, segundo Amador et al (2015), com os países buscando se especializar em atividades particulares dentro de suas economias (vantagens competitivas) fazendo com que os bens intermediários atravessassem fronteiras antes de se tornarem um bem final e proporcionando, com isso, estatísticas defasadas de análise de inserção e encadeamento setorial. Reis e Almeida (2014) argumentam que as estatísticas tradicionais de fluxos de capitais, bens e serviços não mensuram o real ganho em termos de valor adicionado e progresso tecnológico nas CGV.…”