Does enterprise participation in global markets ensure sustainable income growth? Policies have often been designed in the belief that this is true, but competitiveness and participation in international markets may take very different forms, and developing countries do not always benefit. This...

Global value chains (GVCs) have taken the policy world by storm, with many policymakers viewing them as potent tools to boost economic development through industrial upgrading. In this Perspective, the authors argue that zooming in on the roles of tasks, linkages and firms helps clarify the...