Korea's Participation in Global Value Chains: Measures and Implications
- Korea's Participation in Global Value Chains: Measures and Implications
- Chung, Sunghoon; 정, 성훈
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- KDI Journal of Economic Policy;
- This paper measures the extent to which South Korea participated in
global value chains (GVCs) from 1995 through 2011 and scrutinizes
the consequences of such participation on the Korean economy. To
this end, the World Input Output Database is utilized to calculate
GVC income, GVC employment, and value-added exports created by
Korean and foreign industries. Our findings show that Korea radically
internationalized its production activities during the sample period,
widening the gap between gross exports and value-added exports.
We also document that Korea’s participation in GVCs has changed
the value-added and employment structures in domestic industries in
accordance with their comparative advantages while exacerbating
the degree of wage inequality.
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