Structural Change, Trade and Global Production Networks
Landesmann, Michael
Structural Change, Trade and Global Production Networks - Wien : Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw), 2018. - 33 S., 1 Table and 10 Figures, 30cm. - wiiw Policy Notes and Reports 21 . - wiiw Policy Notes and Reports 21 .
An ‘Appropriate Industrial Policy’ for Peripheral and Catching-up Economies
The global economy has been undergoing rapid structural change: the impressive development processes in a range of emerging economies have induced strong shifts in global trade shares; international production networks (IPNs) are characterising regional and global trading relationships and we observe also persistent changes in the positions of countries in global value chains due to rather rapid technological and human capital upgrading. The aim of this paper is to assess these developments, but also discuss the importance of – what we call – ‘appropriate industrial policy’ (AIP) for countries at different developmental stages to support their position in the current global context. We emphasise in particular the role of AIP for European low- and medium-income economies (LMIEs) as the recent financial and economic crisis has shown that they are particularly vulnerable with respect to ‘structural external imbalances’ and thus policies to support their tradable sectors are of great importance.
appropriate industrial policy
structural change
structural upgrading
Emerging Europe
emerging economies
international production networks
global value chains
catching up
industrial policy and industrial organisation
European Union
Structural Change, Trade and Global Production Networks - Wien : Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw), 2018. - 33 S., 1 Table and 10 Figures, 30cm. - wiiw Policy Notes and Reports 21 . - wiiw Policy Notes and Reports 21 .
An ‘Appropriate Industrial Policy’ for Peripheral and Catching-up Economies
The global economy has been undergoing rapid structural change: the impressive development processes in a range of emerging economies have induced strong shifts in global trade shares; international production networks (IPNs) are characterising regional and global trading relationships and we observe also persistent changes in the positions of countries in global value chains due to rather rapid technological and human capital upgrading. The aim of this paper is to assess these developments, but also discuss the importance of – what we call – ‘appropriate industrial policy’ (AIP) for countries at different developmental stages to support their position in the current global context. We emphasise in particular the role of AIP for European low- and medium-income economies (LMIEs) as the recent financial and economic crisis has shown that they are particularly vulnerable with respect to ‘structural external imbalances’ and thus policies to support their tradable sectors are of great importance.
appropriate industrial policy
structural change
structural upgrading
Emerging Europe
emerging economies
international production networks
global value chains
catching up
industrial policy and industrial organisation
European Union