Purpose: The purpose of this paper is to document for the first time the vertical specialization structure of the global pharmaceutical value chain. Design/methodology/approach: The paper adopts Wang et al.’s (2013) gross exports decomposition method to trace foreign values in bilateral trade...

There is an ongoing debate on whether benefits of foreign direct investment (FDI) differ depending on the modes of FDI entry. This paper examines this debate using firm-level data on FDI in Korea. The paper adopts a new, more accurate classification scheme than the current official...