This paper presents a critical review of the global value chain (GVC) literature in light of the “technological capabilities” approach to innovation in less-developed countries (LDCs). Participation in GVC is beneficial for firms in LDCs, which are bound to source technology internationally....

Comparing the Korean labour productivity growth in the last two decades with the Japanese and US labour productivity growth, data confirm a process of catching up in several important manufacturing sectors. The paper investigates its determinants using a non-neoclassical model. Investments in...