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OECD-ERIA Joint Regional Symposium (June 13, 2016 @Hanoi, Vietnam)
Making the most out of GVC participation
Fukunari Kimura
Chief Economist, Economic Research Institute for ASEAN and East Asia (ERIA)
Dean, Graduate School of Economics, Keio University
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How to utilize GVCs?
• ASEAN and East Asia have explored effective usage of global value chains (GVCs), particularly in machinery industries.
• Vietnam has quickly followed ASEAN forerunners.
– Possibilities in Tiers 3, 2, and 1b.
– The central theme now: Tier 1a (forming industrial agglomeration with production networks and accelerating technology transfer/spillover)
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A new development strategy for ASEAN and East Asia
Connectivity
Medium grades High grades Turnpike connectivity
Innovation
Process innov. Product innov.
Under-developed economy before industrialization
Hock up with global value chains (the 1st unbundling): resource-based/labor-intensive industries
Participate in production networks (the 2nd unbundling: Jump-start industrialization with machinery industries
Form industrial agglomeration:
Accelerate technology transfer/spillover
Create innovation hub:
Urban amenities
Attract/nurture human resources
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[Cambodia, Laos, Myanmar]
[Vietnam, Philippines, Indonesia]
[Thailand, Malaysia, Singapore]
Source: ERIA (2015).
Source: Obashi and Kimura (2016).
The 2nd unbundling
The 1st unbundling
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Figure 2.9. Three Channels to Get Access to Technology
Source: ERIA (2015). 5
Policies for Vietnam
• FTA strategies – TPP and Vietnam-EU FTA
• Set a standard for trade/investment liberalization and international rule making
• Accelerate domestic reform
– AEC and RCEP • Competitors or collaborators?
• Polices for forming industrial agglomerations – Full size: 100km diameter – Infrastructure
• Highway network • Large-scale ports/airports • Large and stable supply of infrastructure services (e.g., electricity)
• Preparation for innovation
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Figure 4.3.1. City Size with Nighttime Light from Satellite (conti.)
Source: ERIA-IDE GSM Team.
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Figure 4.3.1. City Size with Nighttime Light from Satellite (conti.)
Source: ERIA-IDE GSM Team.
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Figure 4.3.1. City Size with Nighttime Light from Satellite (conti.)
Source: ERIA-IDE GSM Team.
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References
• Economic Research Institute for ASEAN and East Asia (ERIA) (2015) The Comprehensive Asia Development Plan 2.0 (CADP 2.0): Infrastructure for Connectivity and Innovation. Jakarta: ERIA.
• Obashi, Ayako and Kimura, Fukunari. (2016) “Deepening and Widening of Production Networks in ASEAN.” ERIA Discussion Paper 2016-09 (http://www.eria.org/publications/discussion_papers/DP2016-09.html).
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