Understanding and conceptualizing the complexities of the contemporary global economy is a challenging but vitally important task. In this article, we critically evaluate the potential of one interpretive framework the global production networks (GPN) perspective for analysing the global economy...

This paper provides a general and unified framework to study the role of production networks in international GDP comovement. We first derive an additive decomposition of bilateral GDP comovement into components capturing shock transmission and shock correlation. We quantify this decomposition...