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Bhushan P Jangam and Vaseem Akram
''Does participation in global value chain foster export concentration?''
( 2019, Vol. 39 No.4 )
This study examines the extent to which participation in global value chains (GVCs) enabled countries to specialize their exports by using a panel of 91 economies categorized into high, middle, and low-income groups from 1995 to 2017. Both the forward and backward linkages in GVCs are considered. By employing the cross-sectional augmented Im–Pesaran–Shin panel unit root test, we found that the variables are nonstationary across the income groups. The findings from the Westerlund cointegration test supports the long-run association between GVCs and export concentration for all the income groups. The long-run elasticities obtained using the dynamic ordinary least squares method provided mixed results for the various income groups. Moreover, the results derived using the Dumitrescu–Hurlin panel causality test provides evidence of mixed outcomes.
Keywords: Global Value Chains; Export concentration; Panel unit root; Panel cointegration; Cross-sectional dependency
JEL: F1 - Trade: General
C5 - Econometric Modeling: General
Manuscript Received : Jun 26 2019 Manuscript Accepted : Dec 18 2019

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