Икономически ползи и рискове от участие в глобалните вериги на стойността
Economic benefits and risks of participation in global value chains

Summary/Abstract: Given the unceasing topicality of the debate over the consequences of economic globalization, the paper aims to examine the benefits and risks of countries’ participation in global value chains (GVC). To achieve this aim, a literature review is conducted, systematizing and critically analyzing the existing theoretical and empirical research in the field of GVC participation. The results from the literature review show that GVC participation can contribute to higher levels of productivity, growth, employment and incomes. However, generating these positive effects is not automatic but it rather depends on certain country characteristics. This suggests the implementation of appropriate policies, aimed at improving the local economy’s absorptive capacity, as well as mitigating some GVC-related risks.

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