THE CONCEPT AND ECONOMIC ESSENCE OF GLOBAL VALUE CHAINS
DOI:
https://doi.org/10.5281/zenodo.18054440Abstract
Global Value Chains (GVCs) have become a defining feature of the modern global economy, fundamentally transforming international trade, production structures, and economic development strategies. Unlike traditional trade models that emphasize the exchange of final goods, the GVC framework highlights the fragmentation of production processes across multiple countries, where value is added at different stages. This article aims to analyze the concept and economic essence of global value chains through an IMRAD-based structure. The study synthesizes theoretical approaches, examines statistical evidence on GVC participation, and discusses their economic implications for developing and developed economies. The findings demonstrate that GVCs play a critical role in enhancing productivity, facilitating technology transfer, and reshaping comparative advantages in the global economy.
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