Trade and flow of value in global value chains

Peijie Wang, Zhiyuan Liu
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Abstract

This paper examines flow of value that goes with trade flows in global value chains (GVCs) by a residence‐based domestic value‐added trade measure. Accordingly, the paper puts forward a concept of residence‐based domestic value‐added exports from activity domains and develops a corresponding trade measure. Export activities of G20 economies are scrutinized empirically, with which sizeable differences are observed between figures in the proposed residence‐based domestic value‐added trade measure and the conventional domestic value‐added trade measure. This calls for new measures, to which the present study responds. It has been demonstrated that the developed G20 gains persistently in residence‐based domestic value‐added exports, increasing from the conventional domestic value‐added exports measure. Whereas trade performance of the developing G20 deteriorates with considerably reduced surpluses in the new measure. Considerable additional value flows out from developing to developed economies in GVCs. Developed economies continue to gain from international trade as a matter of fact.
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全球价值链中的贸易和价值流动
本文通过一种基于居住地的国内增值贸易计量方法,研究了全球价值链(GVC)中与贸易流动相伴的价值流。因此,本文从活动领域提出了基于居住地的国内增值出口的概念,并制定了相应的贸易措施。本文对 G20 经济体的出口活动进行了实证研究,发现所提出的以居住地为基础的国内增值贸易测度与传统的国内增值贸易测度之间存在巨大差异。这就需要有新的衡量标准,本研究对此做出了回应。研究表明,发达的二十国集团在以居住地为基础的国内增值出口方面持续获益,与传统的国内增值出口衡量标准相比有所增加。而发展中 20 国集团的贸易表现则有所恶化,新衡量标准下的顺差大幅减少。在全球价值链中,大量额外价值从发展中经济体流向发达经济体。事实上,发达经济体继续从国际贸易中获益。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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