The international fragmentation of production in global value chains (GVCs) challenges the way we look at the global economy. It is essential to understand how global value chains work, how they affect economic performance, and how policy can help countries to derive benefits from their...

World trade and production are increasingly structured around "global value chains" (GVCs). The last years have witnessed a growing number of case studies describing at the product level how production is internationally fragmented, but there is little evidence at the aggregate level on the...