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Global Value-Chains and Connectivity in Developing Asia - with application to the Central and West Asian region

Author

Listed:
  • Pomfret, Richard

    (University of Adelaide, Australia)

  • Sourdin, Patricia

    (University of Adelaide, Australia)

Abstract

An increasingly important part of international trade consists of fragmentation of the production process, with differing tasks in the global value chain (GVC) being undertaken in different locations. The paper traces the origins of the GVC phenomenon, attempts to measure the significance of GVCs, and analyzes why some countries participate in GVCs while others do not. GVCs rely on timely delivery of parts and components at every stage, with no unnecessary costs to crossing borders. West and Central Asian countries have been nonparticipating because their economies are characterized by high costs of doing business, obtrusive border controls, and other obstacles. Governments may be reluctant to undertake necessary reforms, and wary of the potential for increased volatility and inequality that sometimes accompany GVC participation. However, the cost of non-participation is falling behind in economic prosperity. Import-substituting industrialization is no longer a serious option, because no country with an integrated car or computer industry can hope to be competitive with goods produced along efficient GVCs.

Suggested Citation

  • Pomfret, Richard & Sourdin, Patricia, 2014. "Global Value-Chains and Connectivity in Developing Asia - with application to the Central and West Asian region," Working Papers on Regional Economic Integration 142, Asian Development Bank.
  • Handle: RePEc:ris:adbrei:0142
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    Citations

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    Cited by:

    1. Rogelio V. Mercado, Jr. & Ryan Jacildo & Sanchita Basu Das, 2022. "US Dollar Dominance in Asia's Trade Invoicing," Working Papers wp45, South East Asian Central Banks (SEACEN) Research and Training Centre.
    2. Pomfret, Richard, 2014. "Trade costs and agricultural trade in Central Asia [Handelskosten und Agrarhandel in Zentralasien]," IAMO Discussion Papers 146, Leibniz Institute of Agricultural Development in Transition Economies (IAMO).
    3. Richard Pomfret & Patricia Sourdin, 2016. "Trade between Australia and the EU, 1990 - 2015," School of Economics and Public Policy Working Papers 2016-10, University of Adelaide, School of Economics and Public Policy.
    4. repec:zbw:iamodp:168931 is not listed on IDEAS
    5. Richard Pomfret, 2017. "Improved Infrastructure and Agricultural Exports from Central Asia," Economia agro-alimentare, FrancoAngeli Editore, vol. 19(1), pages 35-57.

    More about this item

    Keywords

    global value chains; Central Asia; connectivity;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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