Review
Version 1
This version is not peer-reviewed
Review of Strategies and Policies for Enhanced Participation in Global Value Chains
Version 1
: Received: 28 July 2024 / Approved: 28 July 2024 / Online: 30 July 2024 (09:58:50 CEST)
How to cite: Dutta, S. Review of Strategies and Policies for Enhanced Participation in Global Value Chains. Preprints 2024, 2024072244. https://doi.org/10.20944/preprints202407.2244.v1 Dutta, S. Review of Strategies and Policies for Enhanced Participation in Global Value Chains. Preprints 2024, 2024072244. https://doi.org/10.20944/preprints202407.2244.v1
Abstract
This article underscores the immense potential for substantial economic growth and development that can be harnessed through effective participation in global value chains (GVCs). It emphasises the role of policymakers in adeptly navigating GVCs, prioritising tasks, exploring different forms of GVC governance, and fostering a conducive environment for foreign investments. By effectively managing power dynamics and supply chain risks, countries can attract valuable foreign investors, enhance market connectivity, and improve infrastructure and services, leading to significant economic growth. The potential benefits of GVC participation are vast, and policymakers can shape the situation by understanding and addressing strategic inquiries, laying the foundation for a prosperous future. Furthermore, the article explores the potential for a country to enhance its involvement in GVCs and progress to more lucrative activities by strengthening existing connections between GVCs and the local economy. By enhancing the capacity of local stakeholders to acquire knowledge, policymakers can play a crucial role in maximising the benefits from GVC spillovers, positively impacting a country's economic development.
Keywords
Global Value Chains; Trade Policy; Industrial Policy; International Political Economy
Subject
Business, Economics and Management, Economics
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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