Untapping the Full Development Potential of Trade Along Global Supply Chains: A 'GVCs for LDCs' Proposal
Untapping the Full Development Potential of Trade Along Global Supply Chains: A 'GVCs for LDCs' Proposal
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充分挖掘全球供应链贸易的发展潜力:“最不发达国家的全球价值链”提案
DOI:
10.54648/trad2021029
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发表时间:
2021
期刊:
影响因子:
--
通讯作者:
Lucian Cernat
中科院分区:
文献类型:
--
作者:
A. Antimiani;Lucian Cernat
There is clear evidence that existing preferential schemes contributed significantly to boosting least-developed country (LDC) exports (Klasen et al., 2016). Many seem to believe the multilateral trading system could offer little to LDCs as they have already obtained market access to critical markets under the current preferential schemes. Despite the LDCs’ reluctance to positively engage in recent WTO discussions, there is room for the global trading system and new multilateral initiatives to promote the participation of LDCs in global value chains (GVCs). Given that LDC exports are often further processed and ‘travel’ down the GVCs as part of third-country exports still facing tariffs, one could envisage a global preferential scheme based on LDC value-added, i.e., products originating in any WTO members should receive an ‘LDC preferential treatment’ proportionate to the value of LDC’s inputs content embodied in their exports, whenever exported to any other WTO member. We conceptualize this new ‘GVCs for LDCs’ proposal and estimate its economic potential using a dynamic Computable General Equilibrium (CGE) modelling framework. If LDC preferential market access is changed from the simple ‘direct export’ approach (e.g., the Generalised Scheme of Preferences (GSP)-like schemes currently in operation) to a GVC approach, LDC exports would receive a considerable boost (a 2.5% annual increase worth over USD 10 billion per year) and increased market premium for their products.
WTO, World Trade Organisation, CGE modelling, GTAP, development, Least Developed Countries, LDCs, global value chains, GVC, Generalized System of Preferences, GSP