Global value chains, innovation and performance: firm-level evidence from the Great Recession
利用意大利产业新调查数据，分析全球价值链参与模式对企业创新和绩效的影响，发现高技能关系型供应商在危机中更倾向于创新，而低技能企业则遭受严重需求冲击。
This article takes advantage of a newly available survey on the Italian industry to analyze the behavior of global value chains (GVCs) in the aftermath of the Great Recession. We design a comprehensive taxonomy of GVC participation modes and explore their impact on firms’ innovativeness and performance. Our findings highlight relevant heterogeneities in how GVC participants fared the crisis. While high-skill relational suppliers display a significant propensity to engage in innovative activities and R&D projects, other modes of GVC participation have no premium compared to domestic companies. This heterogeneity is also reflected in differential productivity and sales growth. Compared to the precrisis trends, we document a severe demand shock for low-skill and subordinated firms, while relational GVCs appear to be somewhat sheltered from the effects of the crisis.