What are the divers of business cycle synchronization within and between advanced and emerging economies at the sector level? This question is addressed by analysing international co-movements of value added growth in a multi-sector dynamic factor model. The model contains a world factor, region...

Globalization has transformed how nations, firms and workers compete in the international economy over the past half century. This book by Gary Gereffi, one of the founders of the Global Value Chains (GVC) framework, traces the emergence of arguably the most influential approach used to analyze...