Global value chains and the changing nature of international specialization Cover Image

Глобалните стойностни вериги и променящата се природа на международната специализация
Global value chains and the changing nature of international specialization

Author(s): Elena Spasova, Eduard Marinov
Subject(s): Economy, Supranational / Global Economy
Published by: Институт за икономически изследвания при Българска академия на науките
Keywords: international trade; supply chains; trade policy; regionalization; forecasts

Summary/Abstract: Along with the dynamic transformations associated with the failure of multilateralism, changes in global demand patterns, the return to protectionism and the integration of emerging economies into global markets, global trade is undergoing dynamic changes related to the search for greater economic efficiency through the use of global value chains. These trends have an impact on both trade and production specialization, and the demand for different types of skills, thus enabling greater profits, but also posing new challenges for trade policy. The main trends in trade and specialization and the development of global value chains are traced, then the changing nature of international specialization and the relationship between trade policy, trade and specialization are analyzed. Lastly, an assessment of the future development of global trade and global value chains is presented and several scenarios for trade and specialization by 2060 are summarized.

  • Issue Year: 2021
  • Issue No: 1
  • Page Range: 3-28
  • Page Count: 26
  • Language: Bulgarian