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Global Value Chains
Report

Global Value Chains

Challenges, Opportunities, and Implications for Policy

OECD, WTO and The World Bank
OECD, 2014
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Editorial Rating

7

Qualities

  • Comprehensive
  • Analytical
  • Innovative

Recommendation

In a joint report, the OECD, the World Trade Organization and the World Bank Group explain that global value chains (GVCs) have made dramatic changes in the nature of international trade. Yet for GVCs to function effectively, the commercial environment – which includes government – must provide a whole range of supportive elements, including infrastructure and jobs training. Therefore, policy makers must consider GVCs’ linked functions as a whole process, not as fragments. getAbstract recommends this comprehensive report to those who deal with international trade, including government officials, corporate managers and research analysts.

Take-Aways

  • New patterns of production have propelled growth of global value chains (GVCs).
  • Technological changes in communication and transportation have dramatically reduced costs, allowing businesses to divide different functions among various countries.
  • Nowadays, more than 70% of global trade is in “intermediate goods and services and in capital goods.”

About the Authors

The OECD promotes global economic advancement. The World Trade Organization seeks to ensure free trade among nations. The World Bank provides financial and technical assistance to developing countries.

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