Value chains and domestic competitiveness

Gasiorek, Michael, Smith, Alasdair and Tamberi, Nicolo (2020) Value chains and domestic competitiveness. National Institute Economic Review, 252. pp. 45-51. ISSN 0027-9501

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With international trade increasingly undertaken within vertically fragmented supply chains, this paper considers the impact of changes in trade costs on domestic output. In the context of the UK’s exit from the EU we show that the negative impact on UK output will depend on changes in both domestic and export competitiveness. Since for many firms the majority of their sales are to the domestic market, the domestic competitiveness impact may be quantitatively more important. The impact on output will be more significant the greater the integration of firms in international supply chains, and the greater the asymmetric impact of leaving the EU on UK firms relative to EU firms.

Item Type: Article
Keywords: global value chains, competitiveness, international trade, Partial equilibrium modelling
Schools and Departments: University of Sussex Business School > Economics
SWORD Depositor: Mx Elements Account
Depositing User: Mx Elements Account
Date Deposited: 23 Oct 2020 06:50
Last Modified: 23 Oct 2020 08:00

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