This paper quantifies the way in which the Regional Comprehensive Economic Partnership(RCEP)afects the restructuring of global value chains(GVCs).It incorporates an inputoutput structure into a general equilibrium mod...This paper quantifies the way in which the Regional Comprehensive Economic Partnership(RCEP)afects the restructuring of global value chains(GVCs).It incorporates an inputoutput structure into a general equilibrium model,highlighting important differences between intermediates and final goods.Using tarif reduction schedules for the RCEP agreement and Asian Development Bank Multi-Region Input-Output database,it evaluates the impact of the RCEP's tariff cuts on vertical specialization and the GVC position index of members.It shows that the RCEP significantly increased vertical specialization and the weighted average number of stages for members for primary factors of production and final consumption,which led to more complex and longer production chains.This was mainly due to the trade creation in intermediates imported from member countries and those outside it.This is an important finding,distinct from traditional trade models without aninput-output structure.展开更多
基金supported by the National Natural Science Foundation of China(No.72173039)Natural Science Foundation of Hunan Province(No.2021JJ30156)+1 种基金Hunan Provincial Philosophy,Social Science Foundation Project(No.17JD18)Major Projects of the National Social Science Fund of China(No.18ZDA068).
文摘This paper quantifies the way in which the Regional Comprehensive Economic Partnership(RCEP)afects the restructuring of global value chains(GVCs).It incorporates an inputoutput structure into a general equilibrium model,highlighting important differences between intermediates and final goods.Using tarif reduction schedules for the RCEP agreement and Asian Development Bank Multi-Region Input-Output database,it evaluates the impact of the RCEP's tariff cuts on vertical specialization and the GVC position index of members.It shows that the RCEP significantly increased vertical specialization and the weighted average number of stages for members for primary factors of production and final consumption,which led to more complex and longer production chains.This was mainly due to the trade creation in intermediates imported from member countries and those outside it.This is an important finding,distinct from traditional trade models without aninput-output structure.
