This article takes advantage of a newly available survey on the Italian industry to analyze the behavior of global value chains (GVCs) in the aftermath of the Great Recession. We design a comprehensive taxonomy of GVC participation modes and explore their impact on firms' innovativeness and performance. Our findings highlight relevant heterogeneities in how GVC participants fared the crisis. While high-skill relational suppliers display a significant propensity to engage in innovative activities and R & D projects, other modes of GVC participation have no premium compared to domestic companies. This heterogeneity is also reflected in differential productivity and sales growth. Compared to the precrisis trends, we document a severe demand shock for low-skill and subordinated firms, while relational GVCs appear to be somewhat sheltered from the effects of the crisis.
Global value chains, innovation and performance. Firm-level evidence from the Great Recession / Brancati, Emanuele; Brancati, Raffaele; Maresca, Andrea. - In: JOURNAL OF ECONOMIC GEOGRAPHY. - ISSN 1468-2702. - 17:5(2017), pp. 1039-1073. [10.1093/jeg/lbx003]
Global value chains, innovation and performance. Firm-level evidence from the Great Recession
Brancati, Emanuele
;
2017
Abstract
This article takes advantage of a newly available survey on the Italian industry to analyze the behavior of global value chains (GVCs) in the aftermath of the Great Recession. We design a comprehensive taxonomy of GVC participation modes and explore their impact on firms' innovativeness and performance. Our findings highlight relevant heterogeneities in how GVC participants fared the crisis. While high-skill relational suppliers display a significant propensity to engage in innovative activities and R & D projects, other modes of GVC participation have no premium compared to domestic companies. This heterogeneity is also reflected in differential productivity and sales growth. Compared to the precrisis trends, we document a severe demand shock for low-skill and subordinated firms, while relational GVCs appear to be somewhat sheltered from the effects of the crisis.File | Dimensione | Formato | |
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