近日，对外经济贸易大学全球价值链研究院王直教授、美国哥伦比亚大学商学院魏尚进教授、对外经济贸易大学国际经济贸易学院余心玎副教授和中国人民大学经济学院祝坤福副教授的合作论文“Global value chains over business cycles”在Journal of International Money and Finance正式发表。

Global Value Chains (GVCs) now represent a key aspect of economic interdependence across countries. This paper makes two methodological contributions. First, it proposes a framework with which to decompose total production activities at the country, sector, or country-sector level into different types depending on whether they are for pure domestic demand, traditional international trade, simple GVC activities, and complex GVC activities. Second, this work proposes a set of GVC participation indices that improves on measures used in the literature. Upon applying this framework to Inter-Country Input-Output Tables, we find a number of interesting patterns connecting value chains and business cycles. First, the composition of global production has evolved dramatically since 1995. Second, production activities of complex GVC activities comove with global business cycles more than other types of production activities. Third, the level of GVC participation affects the performance of economic growth.