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Aaditya Mattoo,
Anabel González,
Davida Connon,
Kate DeMoss,
and
Sheila Jagannathan
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, the age of GVCs, wherein low-income countries grew rapidly and began to catch up with high-income countries.
Read more
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, the age of GVCs, wherein low-income countries grew rapidly and began to catch up with high-income countries.
Read more
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, the age of GVCs, wherein low-income countries grew rapidly and began to catch up with high-income countries.
Since the 2008 global financial crisis, however, the growth of trade has stagnated and the expansion of GVCs has stalled. These trends have only been amplified by the COVID-19 pandemic. Meanwhile, threats to the model of trade-led growth have emerged. Technological change could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries—exacerbated by conflict around COVID-19—could lead to a retrenchment or a segmentation of GVCs.
How can GVCs power sustainable and inclusive economic growth and development? How can countries work together to create deeper reforms and predictable policies that encourage shared and sustained GVC participation? How can the development of GVCs continue amid the COVID-19 crisis?
This MOOC gives participants an opportunity to explore trading for development- how GVCs can further boost inclusive and sustainable economic growth, creating better jobs and reducing poverty. Economists from across the World Bank Group will discuss how GVCs impact a range of development issues. Participants will also benefit from using a global online platform, by networking with peers across the world, experimenting with digital visualizations about GVCs, and experiencing the interconnectedness of global development demands.
Register for this course and see more details by visiting:
OpenCourser.com/course/ix8dw6/trading
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Learning objectives
- • evaluates the degree to which gvcs have contributed to economic growth, jobs, and reduced poverty—as well as inequality and environmental degradation.
- • examines how national policies can create deeper reforms and predictable policies, advancing gvcs as a force for development rather than divergence, and reviving economic growth and world trade.
- • identifies inadequacies in the international trade system that have fomented disagreements among nations and provides a road map to resolving them through greater international cooperation.
- • evaluates the degree to which gvcs have contributed to economic growth, jobs, and reduced poverty—as well as inequality and environmental degradation.
- • examines how national policies can create deeper reforms and predictable policies, advancing gvcs as a force for development rather than divergence, and reviving economic growth and world trade.
- • identifies inadequacies in the international trade system that have fomented disagreements among nations and provides a road map to resolving them through greater international cooperation.
Syllabus
Week 1 - GVCs— What are they and what drives country participation?
This module will focus on understanding GVCs and how they work. A GVC breaks up the production process across countries, with firms specializing in a specific task and stages of production rather than producing the whole product. GVC trade offers two features that distinguish it from traditional trade: hyper-specialization and durable firm-to-firm relationships. These features increase technology and knowledge transfer as well as access to capital, which allows firms to raise productivity and income and renders GVC trade more powerful than traditional trade in supporting growth and poverty reduction. GVCs expanded in the 1990s and 2000s, driven by technological advances in transportation, information and communications, and trade liberalization, but that expansion has slowed since the financial crisis of 2008. One reason for the stagnation is lower global economic growth and investment. Another is the lack of major liberalization initiatives in recent years. Factor endowments (labor, capital, and natural resources), geography, market size, and institutions drive a country’s participation in GVCs, and policies play an important role.
Read more
Syllabus
Week 1 - GVCs— What are they and what drives country participation?
This module will focus on understanding GVCs and how they work. A GVC breaks up the production process across countries, with firms specializing in a specific task and stages of production rather than producing the whole product. GVC trade offers two features that distinguish it from traditional trade: hyper-specialization and durable firm-to-firm relationships. These features increase technology and knowledge transfer as well as access to capital, which allows firms to raise productivity and income and renders GVC trade more powerful than traditional trade in supporting growth and poverty reduction. GVCs expanded in the 1990s and 2000s, driven by technological advances in transportation, information and communications, and trade liberalization, but that expansion has slowed since the financial crisis of 2008. One reason for the stagnation is lower global economic growth and investment. Another is the lack of major liberalization initiatives in recent years. Factor endowments (labor, capital, and natural resources), geography, market size, and institutions drive a country’s participation in GVCs, and policies play an important role.
Read more
Week 2 – What are the effects of GVCs?
This module will focus on understanding GVCs and their consequences for development, as well as their macroeconomic implications. GVCs have contributed more to income growth than traditional trade, primarily due to their productivity-enhancing effects. GVCs also deliver more productive jobs, even though GVC firms themselves tend to be more capital-intensive. As a result of enhanced income growth and employment, GVCs are generally associated with reduced poverty. But how countries participate in GVCs matters for their impact on development. The gains from GVCs may not be distributed equally across and within countries. GVCs also present challenges to the international tax system and compromise domestic revenue mobilization efforts. At the macroeconomic level, GVCs are associated with greater synchronization of economic activity across countries, which can facilitate the propagation of economic shocks around the world. Similarly, GVCs create strong links in price formation, which means that inflation in one country is more likely to spill over to trading partners. In GVC countries, episodes of export growth are linked to episodes of import growth, which reduces the potential for currency devaluation as a policy tool to boost exports and reduce trade imbalances. GVCs also amplify the costs of protectionism for trade and growth, since higher tariffs on imported inputs could disrupt investment and drive firms to reshape entire value chains.
Week 3 – How do GVCs interact with the environment and what are the implications of technology for GVCs?
This module will focus on environmental issues surrounding GVCs, explaining scale, composition, and technique effects. While GVCs are associated with more shipping and more waste in the aggregate than standard trade, GVCs can also promote more efficient production processes and facilitate the production of new, environmentally friendly goods. New digital technologies enhance opportunities for GVC participation, however, they also foster concentration that affects the distribution of gains from participation in GVCs. New production technologies also promoted North-South trade, although the effects are heterogeneous across countries and sectors.
Week 4 – What domestic policies facilitate fruitful participation in GVCs?
This module will focus on domestic policies that facilitate fruitful participation in GVCs, including policies that enhance participation and ensure participation is inclusive and sustainable. The module will examine how proactive policies can be used to shape and upgrade GVC participation, particularly looking at the role of factor endowments and how countries can best exploit their comparative advantage. The module will also explore policies that help developing countries spread the jobs and earning gains from GVC participation across society. Adjustment policies, such as placement services, training, and mobility support can help workers displaced by trade and ensure that GVCs expand to deliver more productive jobs. Policy can also mitigate the negative environmental consequences associated with GVC participation, for example, by promoting the adoption of environmentally friendly technologies. National measures can be complemented by global cooperation on the environment and working conditions, to greater effect.
Week 5 – How can international cooperation help GVCs?
This module will focus on the value of international cooperation on trade and beyond trade in a GVC world. Policy action or inaction in one country can affect producers and consumers in other countries. Increasing pressure on the global trading system, manifested in protectionism and policy uncertainty, puts the benefits of GVC trade and open markets risk. To sustain beneficial trade openness, countries need to deepen traditional trade cooperation to address remaining barriers to trade in goods and services, as well as other measures that distort trade, such as subsidies and the activities of state-owned enterprises. Sustaining openness to trade and GVCs—while also maximizing the benefits—also requires cooperation beyond trade policy on taxes, market regulation, competition policy, and infrastructure. Domestic regulation is insufficient to address international market failures, such as protection of foreign consumer data. Coordination between countries on investment in transport and communication infrastructure can also improve international connectivity.
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Teaches the fundamentals of global value chains, which is standard in trade policy and economics
Content is current, relevant, and up-to-date with current events
Taught by economists from the World Bank, a widely recognized source for macroeconomic analysis
Delves into several topics beyond economics, giving learners a strong understanding of the implications of GVCs for several scholarly disciplines and their role in the global political economy
Provides a comprehensive overview of multiple factors that contribute to inequality and environmental degradation, while also investigating potential solutions
Offers global networking opportunities for learners to connect with peers working in trade and development, providing the chance to exchange ideas
Save this course
Save Trading for Development in the Age of Global Value Chains - Word Development Report 2020 to your list so you can find it easily later:
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Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Trading for Development in the Age of Global Value Chains - Word Development Report 2020 with these
activities:
Review other works on GVCs
Show steps
This book provides a comprehensive overview of GVCs and their impact on world trade. As a reference text, it includes up-to-date information that can help solidify and extend your understanding of what is covered in the course.
View
Melania
on Amazon
Show steps
-
Read the book in its entirety.
-
Take notes on the key concepts and arguments.
-
Consider writing a summary or review of the book to reinforce its content.
Compile Trade Policy Resources
Show steps
Compiling trade policy resources will help you access and review resources in the future
Browse courses on
Trade Policy
Show steps
-
Gather links to websites of international organizations such as the WTO and UNCTAD
-
Collect articles from reputable sources on trade policy issues
-
Organize the resources into a folder or bookmark list
Follow tutorials on VCs
Show steps
There are various online resources and tutorials that can provide you with additional insights and practical examples of VCs. Exploring these can supplement your understanding of the course material.
Show steps
-
Identify online tutorials, blogs, or articles about VCs.
-
Complete the tutorials and take notes on the key concepts discussed.
-
Consider using the concepts you learn in the tutorials to analyze real-world examples of VCs.
Eight other activities
Expand to see all activities and additional details
Show all 11 activities
Practice questions
Show steps
There are many resources available online and in the course that provide practice questions related to the material covered in the course. Practicing these questions can improve your understanding of the material and your ability to apply it.
Show steps
-
Identify practice questions related to the topic you are studying.
-
Attempt to answer the questions on your own.
-
Check your answers and identify areas where you need further study.
Data Visualization for Trade Analysis
Show steps
Trade data analysis and understanding global trade trends is critical to grasp the GVC concept
Browse courses on
Data Visualization
Show steps
-
Find tutorials on data visualization tools such as Tableau or Power BI
-
Learn how to clean and prepare data for visualization
-
Practice creating charts and graphs to represent trade data
Discussion on Trade and Development
Show steps
Discussing with peers on the impacts of trade and development will broaden your knowledge
Browse courses on
Economic Growth
Show steps
-
Join a study group or online forum to connect with other students
-
Prepare talking points on the relationship between trade and development
-
Participate in discussions and share your perspectives
Create flashcards
Show steps
Learners can use flashcards to review and drill the key terminology and concepts covered in the course.
Show steps
-
Identify the key terminology and concepts from each week's materials.
-
For each key term and concept, create a flashcard with the term on one side and the definition or explanation on the other.
-
Review the flashcards regularly to strengthen your understanding of the course material.
Volunteer in a global development or trade organization
Show steps
Volunteering in this type of organization allows you to put your understanding of GVCs into practice while simultaneously gaining hands-on experience in the field.
Show steps
-
Identify a global development or trade organization that you are interested in volunteering for.
-
Contact the organization and inquire about volunteer opportunities.
-
Participate in volunteer activities and learn from experienced professionals in the field.
Attend a Trade Policy Workshop
Show steps
Trade policy workshops are crucial for a deeper understanding and networking with professionals
Browse courses on
Trade Policy
Show steps
-
Identify relevant workshops organized by universities, think tanks, or government agencies
-
Register for the workshop and prepare for active participation
-
Attend the workshop and engage in discussions with experts and practitioners
Create a blog or website about GVCs
Show steps
Creating a blog on GVCs will advance your learning by challenging you to research and explain different aspects of the topic in your own words. You could also use it as an opportunity to share your thoughts on current events related to GVCs.
Show steps
-
Choose a topic related to GVCs that you are passionate about or that you want to learn more about.
-
Research your topic and gather information from credible sources.
-
Create high-quality content that is informative, engaging, and well-written.
-
Publish your blog or website and promote it through social media or other channels.
-
Monitor the performance of your blog or website and make adjustments as needed.
Contribute to the world bank's data visualization platform
Show steps
This platform provides learners with an opportunity to engage with real-world challenges and contribute to the development of new tools and resources. This will greatly extend the knowledge learned in the course.
Show steps
-
Explore the platform and identify an area where you can contribute.
-
Join an existing project or start your own.
-
Contribute to the project using your skills in data visualization, programming or data analytics.
Review other works on GVCs
Show steps
This book provides a comprehensive overview of GVCs and their impact on world trade. As a reference text, it includes up-to-date information that can help solidify and extend your understanding of what is covered in the course.
View
Melania
on Amazon
Show steps
Show steps
Show steps
- Read the book in its entirety.
- Take notes on the key concepts and arguments.
- Consider writing a summary or review of the book to reinforce its content.
Compile Trade Policy Resources
Show steps
Compiling trade policy resources will help you access and review resources in the future
Browse courses on
Trade Policy
Show steps
Show steps
Show steps
- Gather links to websites of international organizations such as the WTO and UNCTAD
- Collect articles from reputable sources on trade policy issues
- Organize the resources into a folder or bookmark list
Follow tutorials on VCs
Show steps
There are various online resources and tutorials that can provide you with additional insights and practical examples of VCs. Exploring these can supplement your understanding of the course material.
Show steps
Show steps
Show steps
- Identify online tutorials, blogs, or articles about VCs.
- Complete the tutorials and take notes on the key concepts discussed.
- Consider using the concepts you learn in the tutorials to analyze real-world examples of VCs.
Eight other activities
Expand to see all activities and additional details
Show all 11 activities
Practice questions
Show steps
There are many resources available online and in the course that provide practice questions related to the material covered in the course. Practicing these questions can improve your understanding of the material and your ability to apply it.
Show steps
Show steps
Show steps
- Identify practice questions related to the topic you are studying.
- Attempt to answer the questions on your own.
- Check your answers and identify areas where you need further study.
Data Visualization for Trade Analysis
Show steps
Trade data analysis and understanding global trade trends is critical to grasp the GVC concept
Browse courses on
Data Visualization
Show steps
Show steps
Show steps
- Find tutorials on data visualization tools such as Tableau or Power BI
- Learn how to clean and prepare data for visualization
- Practice creating charts and graphs to represent trade data
Discussion on Trade and Development
Show steps
Discussing with peers on the impacts of trade and development will broaden your knowledge
Browse courses on
Economic Growth
Show steps
Show steps
Show steps
- Join a study group or online forum to connect with other students
- Prepare talking points on the relationship between trade and development
- Participate in discussions and share your perspectives
Create flashcards
Show steps
Learners can use flashcards to review and drill the key terminology and concepts covered in the course.
Show steps
Show steps
Show steps
- Identify the key terminology and concepts from each week's materials.
- For each key term and concept, create a flashcard with the term on one side and the definition or explanation on the other.
- Review the flashcards regularly to strengthen your understanding of the course material.
Volunteer in a global development or trade organization
Show steps
Volunteering in this type of organization allows you to put your understanding of GVCs into practice while simultaneously gaining hands-on experience in the field.
Show steps
Show steps
Show steps
- Identify a global development or trade organization that you are interested in volunteering for.
- Contact the organization and inquire about volunteer opportunities.
- Participate in volunteer activities and learn from experienced professionals in the field.
Attend a Trade Policy Workshop
Show steps
Trade policy workshops are crucial for a deeper understanding and networking with professionals
Browse courses on
Trade Policy
Show steps
Show steps
Show steps
- Identify relevant workshops organized by universities, think tanks, or government agencies
- Register for the workshop and prepare for active participation
- Attend the workshop and engage in discussions with experts and practitioners
Create a blog or website about GVCs
Show steps
Creating a blog on GVCs will advance your learning by challenging you to research and explain different aspects of the topic in your own words. You could also use it as an opportunity to share your thoughts on current events related to GVCs.
Show steps
Show steps
Show steps
- Choose a topic related to GVCs that you are passionate about or that you want to learn more about.
- Research your topic and gather information from credible sources.
- Create high-quality content that is informative, engaging, and well-written.
- Publish your blog or website and promote it through social media or other channels.
- Monitor the performance of your blog or website and make adjustments as needed.
Contribute to the world bank's data visualization platform
Show steps
This platform provides learners with an opportunity to engage with real-world challenges and contribute to the development of new tools and resources. This will greatly extend the knowledge learned in the course.
Show steps
Show steps
Show steps
- Explore the platform and identify an area where you can contribute.
- Join an existing project or start your own.
- Contribute to the project using your skills in data visualization, programming or data analytics.
Career center
Learners who complete Trading for Development in the Age of Global Value Chains - Word Development Report 2020 will develop knowledge and skills
that may be useful to these careers:
Economic Development Specialist
Economic Development Specialist
Economic development specialists work to improve the economic well-being of communities. This course may be useful in developing skills needed to design and implement strategies for inclusive and sustainable economic growth through GVC participation.
Trade Policy Analyst
Trade Policy Analyst
Trade policy analysts research, analyze, and advise on trade policies. This course may be useful in building a foundation for understanding GVCs and their effects on trade, economic growth, and development.
Trade Finance Specialist
Trade Finance Specialist
Trade finance specialists provide financial services to support international trade transactions. This course may be useful in understanding the financial aspects of GVCs and how to manage risks associated with international trade.
Supply Chain Manager
Supply Chain Manager
Supply chain managers oversee the flow of goods and services from suppliers to consumers. This course may be useful in understanding how GVCs operate and how to manage them effectively.
Logistics Manager
Logistics Manager
Logistics managers plan and execute the movement of goods and services. This course may be useful in understanding how GVCs operate and how to manage the transportation and logistics of goods.
Policy Analyst
Policy Analyst
Policy analysts research, analyze, and make recommendations on public policy issues. This course may be useful in gaining knowledge on how national and international policies can shape GVC participation and economic development.
Sustainability Consultant
Sustainability Consultant
Sustainability consultants help organizations reduce their environmental impact and improve their social and economic performance. This course may be useful in gaining knowledge on how GVCs interact with the environment and how to mitigate their negative consequences.
Customs Broker
Customs Broker
Customs brokers help businesses navigate customs regulations and procedures. This course may be useful for gaining knowledge on the rules and regulations governing GVCs and how to comply with them.
International Relations Specialist
International Relations Specialist
International relations specialists work to build and maintain relationships between countries. This course may be useful in gaining knowledge on the international cooperation needed to sustain beneficial trade openness and GVCs.
International Trade Specialist
International Trade Specialist
International trade specialists help companies and organizations understand international trade regulations and laws. This course may be useful in developing skills needed to navigate trade agreements, policies, and regulations that govern GVCs.
Business Development Manager
Business Development Manager
Business development managers identify and pursue new business opportunities. This course may be useful in gaining insights on how to leverage GVCs for business growth and expansion.
Project Manager
Project Manager
Project managers plan, execute, and close projects to achieve specific goals. This course may be useful in building skills for managing complex projects related to GVC development and implementation.
Market Research Analyst
Market Research Analyst
Market research analysts study market conditions, analyze data, and monitor trends to assess potential sales of a product or service. This course may be useful in building a foundation for understanding global value chains (GVCs) and their impact on trade, jobs, and economic growth.
Data Analyst
Data Analyst
Data analysts collect, analyze, and interpret data to solve business problems. This course may be useful for developing skills needed to analyze data on GVCs and identify trends and patterns that can inform decision-making.
Economist
Economist
Economists conduct research, collect, and analyze data to forecast economic trends or predict consumer behaviors. This course may be useful for developing skills needed to analyze the impact of trading for development initiatives and their effects on economic growth, income, and poverty reduction.
For more career information including salaries, visit:
OpenCourser.com/course/ix8dw6/trading
Reading list
We've selected eight books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Trading for Development in the Age of Global Value Chains - Word Development Report 2020.
Save
Provides a comprehensive overview of the developmental impact of global value chains. It valuable resource for scholars, policymakers, and business leaders who are interested in understanding the impact of GVCs on economic development.
This textbook provides a comprehensive overview of the theory and policy of international trade. It valuable resource for students, scholars, and policymakers who are interested in understanding the impact of trade on economic development.
Provides a comprehensive overview of the relationship between global value chains and the developing world. It valuable resource for scholars, policymakers, and business leaders who are interested in understanding the impact of GVCs on economic development.
Provides a comprehensive framework for analyzing and understanding global value chains. It is particularly useful for readers who are new to the topic or who want to gain a deeper understanding of the theoretical and empirical underpinnings of GVCs.
This handbook provides a comprehensive overview of the latest research on international trade. It valuable resource for scholars, policymakers, and business leaders who are interested in understanding the impact of trade on economic development.
Provides a comprehensive overview of the World Trade Organization and the General Agreement on Tariffs and Trade (GATT). It valuable resource for scholars, policymakers, and business leaders who are interested in understanding the international trade regime.
Examines the role of services in global value chains, with a focus on developing countries. It provides insights into how services can be used to promote economic development and reduce poverty.
Provides a comprehensive overview of the political economy of trade policy. It valuable resource for scholars, policymakers, and business leaders who are interested in understanding the political factors that shape trade policy.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/ix8dw6/trading
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Effort
3 to 5 hours per week for 5 weeks
Level
Introductory
Via
edX
Institution
World Bank Group
Instructors
Aaditya Mattoo
Anabel González
Davida Connon
Kate DeMoss
Sheila Jagannathan
Language
English
Transcripts
English
Español
Français
中文
العربية
Pусский
Good to know
Teaches the fundamentals of global value chains, which is standard in trade policy and economics
Content is current, relevant, and up-to-date with current events
Taught by economists from the World Bank, a widely recognized source for macroeconomic analysis
Delves into several topics beyond economics, giving learners a strong understanding of the implications of GVCs for several scholarly disciplines and their role in the global political economy
Provides a comprehensive overview of multiple factors that contribute to inequality and environmental degradation, while also investigating potential solutions
Offers global networking opportunities for learners to connect with peers working in trade and development, providing the chance to exchange ideas
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