World Development Report 2020 : Trading for Development in the Age of Global Value Chains
World Bank : 2020
Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. This book examines whether there is still a path to development through GVCs and trade. It argues that GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
Source: World Bank