Co-organized World Bank Group and JICA Research Institute
Co-organized World Bank Group and JICA Research Institute
Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And conflicts among large countries could lead to a retrenchment or a segmentation of GVCs.
The World Development Report (WDR) 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is at this stage more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation, industrial countries pursue open, predictable policies, and all countries revive multilateral cooperation.
At this seminar, Aaditya Mattoo, Co-Director of the WDR 2020 and Chief Economist for East Asia and Pacific Region , presented the main findings of the report.
Opening remarks
Masato Miyazaki
Special Representative, Japan, World Bank
Keynote speech
Aaditya Mattoo
Co-Director of the WDR 2020 and Chief Economist for East Asia and Pacific Region, World Bank
Presentation Material: Trading for Development in the Age of Global Value Chains (PDF)
Panel discussion
Akio Hosono
Senior Research Advisor, JICA Research Institute
Yasuyuki Todo
Professor, Waseda University (via videoconference from Sydney)
Aaditya Mottoo
Moderator
Izumi Ohno
Director, JICA Research Institute
Aaditya Mattoo is Chief Economist of the East Asia and Pacific Region of the World Bank. He specializes in development, trade and international cooperation, and provides policy advice to governments. He is also Co-Director of the World Development Report 2020 on Global Value Chains. Prior to this he was the Research Manager, Trade and Integration, at the World Bank. Before he joined the Bank, Mr. Mattoo was Economic Counsellor at the World Trade Organization and taught economics at the University of Sussex and Churchill College, Cambridge University. He holds a Ph.D. in Economics from the University of Cambridge, and an M.Phil in Economics from the University of Oxford. He has published on development, trade, trade in services, and international trade agreements in academic and other journals and his work has been cited in the Economist, Financial Times, New York Times, and Time Magazine. |
