The expansion of global value chains during the past 20 years has widened the gap between export value and domestic value added, diminishing the per-unit contribution of exports to the country's economic growth. Thus, policies now need to target creating value added rather than increasing gross...

Until 2014, demand for durable goods was at the heart of China's domestic market growth. This, combined with the expansion of global value chains(GVC), contributed significantly to the rise of Korea's key industries, particularly that of heavy and chemical products, including electrical and...

Smart factories have been found to enhance the productivity of the overall production process, proving to be an appropriate policy as a key strategy for domestic manufacturing innovation. However, to maintain its effectiveness even when the scale and recipients of policy support are expanded,...

Among multinational manufacturers, firms engaged in reshoring are typically smaller, laborintensive, less productive, and less experienced in overseas production. Moreover, despite receiving sizable government subsidies, the domestic investments by reshorers yield smaller employment impacts...