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1 results

  • 11 - Global Value Chains

  • Edited by Kathleen Claussen, Georgetown University, Washington DC, Manfred Elsig, Universität Bern, Switzerland, Rodrigo Polanco, Universität Bern, Switzerland
  • Book:
    The Concept Design of a Twenty-First Century Preferential Trade Agreement
    Published online:
    04 April 2025
    Print publication:
    06 March 2025, pp 227-257
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  • Summary

    Increased production fragmentation and the resulting rise in intermediates trade have changed the composition and structure of international trade flows. Today, most of global trade is conducted along global value chains (GVCs). However, recent events, such as the financial crisis, the COVID-19 pandemic, and the Russian invasion of Ukraine have exposed the fragility of GVCs. In addition to this, the proliferation of trade agreements with different rules of the game between different groups of countries has made this a more complex problem to solve through the multilateral system. This chapter discusses the role of preferential trade agreements (PTAs) to foster GVC resilience. Building on a novel data set that covers about 700 PTAs and their GVC-related provisions, we first discuss the major trends of GVC-related provisions in PTAs and their impact on the development of value chain complexity. Second, we derive a set of possible instruments which, if included in future PTAs, could make GVCs more resilient and reduce the impact of shocks on trade flows.