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From a Spoke to a Hub: The Case of South Korea

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  • Woocheol Lee

Abstract

A few East Asian newly industrialized countries that used to belong to the Global South not only have joined the Global North but also have organized their own production chains in specific industries. Given the imperialist and exploitative nature of global production chains established by the Global North, it should be questioned whether the production chains organized by the East Asian newly industrialized countries are free from the innate nature of production chains. This article adopts a multiregional input-output analysis to examine the bilateral trade relationship between Korea and Vietnam. It finds that the Korean economy has unequally captured the benefits from the bilateral trade with Vietnam in terms of the domestic value-added share and the spillover effect derived from the final demand for Vietnamese products in the textile and electronics industries. JEL Classification: F62, F63

Suggested Citation

  • Woocheol Lee, 2024. "From a Spoke to a Hub: The Case of South Korea," Review of Radical Political Economics, Union for Radical Political Economics, vol. 56(4), pages 531-543, December.
    • Handle: RePEc:sae:reorpe:v:56:y:2024:i:4:p:531-543
    DOI: 10.1177/04866134241270550
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    More about this item

    Keywords

    regional production chains; Korea-Vietnam bilateral trade; value added in trade; structural decomposition analysis;
    All these keywords.

    JEL classification:

    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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