Global value chains and economic growth: A study of resilience during the COVID-19 pandemic

IF 16.4 1区 化学 Q1 CHEMISTRY, MULTIDISCIPLINARY
Bhushan Praveen Jangam, Hari Venkatesh, Aviral Kumar Tiwari
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引用次数: 0

Abstract

This research examines the impact of trade related to global value chains (GVCs) and the COVID-19 pandemic on economic growth. To achieve this, we analyse a panel of 60 countries spanning from 2007 to 2021. Various models are estimated using the system generalized method of moments technique. The primary findings are as follows: Firstly, GVC trade is identified as a positive and beneficial factor influencing economic growth. Secondly, the interaction between COVID and GVCs reveals that GVCs continue to have a positive impact on economic growth even during the pandemic. Lastly, consistent and comparable results are observed across different GVC components, sectors and country groups. These outcomes provide valuable insights for policymakers, emphasizing the importance of GVC trade in fostering economic growth.

全球价值链与经济增长:COVID-19 大流行期间的复原力研究
本研究探讨了与全球价值链(GVC)相关的贸易和 COVID-19 大流行对经济增长的影响。为此,我们分析了 60 个国家的面板数据,时间跨度为 2007 年至 2021 年。我们使用系统广义矩法技术对各种模型进行了估计。主要结论如下:首先,全球价值链贸易被认为是影响经济增长的积极有利因素。其次,COVID 与全球价值链之间的交互作用表明,即使在大流行病期间,全球价值链仍会对经济增长产生积极影响。最后,在不同的全球价值链组成部分、部门和国家组别中观察到了一致且可比较的结果。这些结果为政策制定者提供了宝贵的见解,强调了全球价值链贸易在促进经济增长方面的重要性。
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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来源期刊
Accounts of Chemical Research
Accounts of Chemical Research 化学-化学综合
CiteScore
31.40
自引率
1.10%
发文量
312
审稿时长
2 months
期刊介绍: Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.
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