Is there a direct link between global value chain participation and economic growth? Analysis of EU member countries
|Author:||Bc. Tomáš Obšil|
|Year:||2023 - winter|
|Leaders:|| Ing. Vilém Semerák M.A., Ph.D.
|Work type:|| Bachelors
|Awards and prizes:|
|Abstract:||This thesis studies the strength of correlation between Global value chain participation and economic growth in the Czech Republic, Slovakia, Slovenia, Estonia, Poland, Austria, Germany, and Hungary from 1995 to 2018. This relationship is demonstrated by using traditional panel data methods, with forward
and backward GVC participation as our main explanatory variables and GDP
per capita as our response variable. Based on the graphs and initial models, the
variables seemed to be correlated; nevertheless, our analysis did not confirm
this hypothesis. Furthermore, we use the total value added of the food, textile,
and electronic industries as proxy variables for sectoral growth. We found, in
most cases, a strong and significant correlation between the growth of these
industries and BP and FP.