Global Value Chains: A View from the Euro Area
26 Pages Posted: 12 Mar 2015
Date Written: March 11, 2015
This paper describes the main features of Global Value Chains (GVCs) in the euro area taken as a whole and compares with other large trade players like the US, China and Japan. In addition, the perspective of individual euro area countries is considered, with a focus on intra euro area linkages. The analysis relies primarily on the concept of foreign value added in exports, as a way to assess the pervasiveness of GVCs, it covers the period 2000-2011 and bases on the World Input-Output Database (WIOD). The paper finds that GVCs are important for the euro area as whole and they have rebounded after the great trade collapse. Moreover, there is a strong relevance of regional production linkages in Europe, with Germany playing a key role.
Keywords: international trade, global value chains, euro area
JEL Classification: F1, F14, F15
Suggested Citation: Suggested Citation