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Is there a direct link between global value chain participation and economic growth? Analysis of EU member countries
Obšil, Tomáš ; Semerák, Vilém (advisor) ; Kábrt, Martin (referee)
This thesis studies the strength of correlation between Global value chain par- ticipation and economic growth in the Czech Republic, Slovakia, Slovenia, Es- tonia, Poland, Austria, Germany, and Hungary from 1995 to 2018. This rela- tionship is demonstrated by using traditional panel data methods, with forward and backward GVC participation as our main explanatory variables and GDP per capita as our response variable. Based on the graphs and initial models, the variables seemed to be correlated; nevertheless, our analysis did not confirm this hypothesis. Furthermore, we use the total value added of the food, textile, and electronic industries as proxy variables for sectoral growth. We found, in most cases, a strong and significant correlation between the growth of these industries and BP and FP. JEL Classification B22, C33, E23, F41, F63, L60, O47, O52 Keywords global value chains, economic growth, central and eastern European countries, forward partic- ipation, backward participation Title Is there a direct link between global value chain participation and economic growth? Analysis of EU member countries.
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