Inclusion of national economies in global value chains: changing frameworks of external economic relations

Abstract

Nowadays researches of different international economic organizations, such as the OECD, WTO and UNCTAD, concentrate more on global value chains (GVCs) analysis. Production processes of majority of goods are not limited to the production in a single country. Furthermore, involvement in different stages of production depends on the level of technological and innovative development of the country as well as on the availability of resources.Current article is devoted to the interdependence between fundamental changes in value chain model of goods and services and governments’ foreign economic regulation system. Besides, authors analyze reasons for rising fragmentation of production in the world economy and forms of participation in global value chains, which are chosen by countries. The given article demonstrates theoretical framework for various forms of integration of countries into global value chains as well as assessment of prospects for national economies within GVCs based on case-study of such countries as Japan, Taiwan, South Korea and China. Furthermore, the author presents retrospec- tive and comparative analysis of several countries’ economic development within global value chains.