Policies to strengthen the resilience of global value chains
نویسندگان
چکیده
Widespread supply disruptions in the wake of COVID-19 pandemic and Russian Federation’s large-scale aggression against Ukraine have raised concerns among policy makers that globalised value chains expose domestic production to shocks from abroad. This paper uses new indicators global chain dependencies exogenous econometrically estimate effects abroad on output. The results suggest adverse are particularly large when concentration supplying countries firms is high. Counterfactual simulations econometric model diversification suppliers would sizeable benefits terms shielding country-specific shocks, with partial onshoring having only small additional benefits. Technological innovation reduces foreign dependencies, such as substitution renewable energies for fossil fuels, can similar diversification.
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ژورنال
عنوان ژورنال: OECD science, technology and industry policy papers
سال: 2023
ISSN: ['2307-4957']
DOI: https://doi.org/10.1787/fd82abd4-en