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UIBE GVC Index System

 

l   Background

As the international intermediate trade grows rapidly and vertical specialization keeps deepening, the global economy enters into the era of global value chains, which is mainly characterized by international segmentation of production and trade in intermediate inputs. In recent years, researches on global value chains at sector and country levels have been developing extremely fast, following those at firm level studied from perspectives of management science. Specifically, accounting of global value chains (also known as accounting of trade in value added) emerges as a hot research topic. Driven by investigation on this topic, researches on global value chains evolve from micro-level case-based management studies to economic and statistical analyses emphasizing on quantitative methods and macro views.

In the field of accounting in the context of global value chains, Timmer et al. (2013, 2014), Koopman et al. (2014, AER), WWZ (2013, NBER Working Paper) and WWYZ (2016, SCID Working Paper) make great breakthroughs successively in economic theories and statistical approaches, promoting macro researches at sector and country levels. On one hand, these cutting-edge studies provide important quantitative analyses, which to a large extent enrich the existing literature and offer empirical evidence for policy analyses and adjustments. On the other hand, these research developments will promote studies in related fields, since they set up a basic analysis framework for further explorations and expansions. In addition, measuring trade components underlying global value chains at sector and country levels, partly makes up for the deficiencies of traditional trade statistics, and provides answers to questions that cannot be fully answered by traditional supply chains and logistics management disciplines or GVC governance studies.

Reviewing all of the researches on accounting of global value chains, we find that a preliminary accounting system has existed, the key of which is value-added export, and the corresponding indicators have shown up, reflecting industry competitiveness as well as participation in global value chains.

Development of studies on accounting of global value chains has benefited a lot from the recent preparation and public release of some of the world’s multi-regional input-output tables. Ever since the 1970s, the issue of intermediate trade has received much attention, but no significant progress in researches on this issue has been made due to limited access to data on intermediates and final products in reality (Baldwin et al., 2013). Economists try to deal with this data limitation in many ways, which is crucial to studies on intermediate trade. Before 2011, some economists differentiated between trade in intermediates and trade in final products by using HS codes and descriptions of characteristics as well as uses of products, but it was difficult to identify all of the intermediates. Hummels et al. (2001) employs the input-output table to track the use of imported products, and then proposes the VS index. Some recent studies, such as Koopman et al. (2014), processed the GTAP database into the world’s ICIO database (Inter-Country Input-Output Tables) based on some assumptions and ancillary data, which allowed them to make a further and more comprehensive exploration on the basis of Hummels et al. (2001). WIOD (World Input-Output Database, Timmer et al., 2012) was released in 2013. The global ICIO tables in this database (also known as WIOTs in WIOD, World Input-Output Tables) provide data on trade in both intermediates and final goods for 35 sectors, covering 27 countries in EU and 13 major economies in the world for the period 1995-2011. The establishment of this database has strongly contributed to researches on global value chains in the field of international trade (Bart et al., 2012; Stehrer, 2012; Stehrer et al., 2012; Timmer, Marcel and Erumban, 2012; Timmer, Marcel and Bart, 2012; Baldwin, 2013; etc.). (Furthermore, WIOD has also facilitated studies on energy and carbon embodied in international trade, since it includes satellite accounts for society, energy and environment.) In the latest version of WIOD in 2016 (WIOD 2016), WIOTs are global ICIO tables for 56 sectors, covering 43 countries, for the period 2000-2014. Besides, other representative global ICIO tables include OECDICIO, EORA and ICIO tables developed by Asian Development Bank (See Appendix G in Taglioni and Winkler (2016) for more details). The databases above have different characteristics, in terms of countries or regions covered, sectors involved, time spans and whether to distinguish the processing trade from the normal one.

 

l    Underlying Data and Accounting Methods

The accounting of global value chains is fundamental. However, if every researcher uses the world’s ICIO tables and measures trade in value-added once, there must be a large number of unnecessary duplications. In light of this, the research team for global value chains at University of International Business and Economics (UIBE) complied a set of accounting indicators, namely UIBE GVC Index. The team leader is Professor Zhi Wang at UIBE. And the index system is based on the representative studies on accounting of global value chains, bridges a gap between international trade statistics and the system of national accounts (SNA), and integrates all previous measures of vertical specialization in the literature (such as VS, VS1, RCA and VAX) into a unified framework. The aim is to promote studies on global value chains, to facilitate the use of accounting results in other areas, and to provide convenience for researchers in the fields of trade theory, empirical studies, economics and policy analyses.

The index system is mainly based on the most commonly used methods of GVC accounting. It is the secondary (derived) database, which is processed on the basis of the original world’s ICIO tables. Considering that, compared to other studies, the accounting approaches developed by KWW (2014), WWZ (2013) and WWYZ (2016) are more comprehensive and more inclusive, the research team at UIBE primarily use these approaches to construct the index system. The three studies are as follows (the working paper in the link is the latest version):

Robert Koopman, Zhi Wang and Shang-Jin Wei, “Tracing Value-added and Double Counting in Gross Exports”, American Economic Review, 104(2): 459-494, 2014.

Zhi Wang, Shang-Jin Wei, and Kunfu Zhu, “Quantifying International Production Sharing at the Bilateral and Sector Levels”. NBER Working Paper 19677, 2013.

Zhi Wang, Shang-Jin Wei, Xinding Yu and Kunfu Zhu, “Characterizing Global Value Chains”, SCID working paper No. 578, 2016.

 

The underlying data of UIBE GVC Index is the world-renowned global ICIO tables, which differ in countries, sectors, periods and whether to include the processing trade. For more information on the original world’s ICIO tables, please refer to their websites (WIODOECDICIOGTAPEora). In the index system, the main features of the underlying database are as follows (please see the section below for more detailed information on classifications of regions and sectors):

ICIO tables

Countries or Regions

Sectors

Time span

WIOD2013

40

35

1995-2011

WIOD2016

43

56

2000-2014

OECD-ICIO a

61

34

1995200020052008-2011

GTAP-ICIO b

121

43

20042007, 2011

ADB-WIOD c

45

35

20002005-200820112015

Eroa(suspension of opening)

189

26

1990-2012

Notes: a. The data for China and Mexico distinguish between processing trade and non-processing trade at sector level (or global manufacturing and non-global manufacturing).

b. This database is developed by RIGVC at UIBE on the basis of GTAP database in the same way as Koopman et al. (2014), characterized by the more detailed agricultural sectors (six agricultural sectors).

c. This database is developed by ADB (Asian Development Bank), and it includes five more Asian countries (Bangladesh, Malaysia, Philippines, Thailand and Vietnam) in the WIOTs. It has been updated to 2015.

 

l   Index Structure and Instructions

UIBE GVC Index is developed by Research Institute for Global Value Chains (RIGVC) at University of International Business and Economics (UIBE). It is free to download and use for researchers around the world. But do not use it for commercial purposes. In the research outputs (including but not limited to papers, reports, books, etc.), data source needs to be specified.

Download Link: UIBE GVC Index  © 2016, Research Institute for Global Value Chains, University of International Business and Economics.

Reference: RIGVC UIBE, 2016, UIBE GVC Index,  http://rigvc.uibe.edu.cn/english/D_E/database_database/index.htm.

 

Any questions and suggestions about UIBE GVC Index, please contact RIGVC at UIBE.

Contact: Fei Wang

E-mail: 01535@uibe.edu.cn

 

At present, UIBE GVC Index includes five categories of indexes. In the future, we will add new indicators as needed and continue to improve the existing ones. Welcome to use UIBE GVC Index. We really appreciate your valuable advice. In addition, please contact us if any requirements about data processing and further analysis related to UIBE GVC Index.

 

UIBE GVC Index is stored in Aliyun. When you click the download link of the index system, you will see a guide page, as shown below. At first, according to your own needs, you should decide which kinds of world’s ICIO tables you’d like to use, and then choose the corresponding GVC Index calculated by your preferred ICIO tables. For example, if you want to use the GVC Index based on WIOD, you can click the WIOD folder in the guide page. Furthermore, in the folder of papers, you can find papers and materials that are closely related to UIBE GVC Index. The three documents in the formats of word or PDF introduce the detailed indicators under UIBE GVC Index. And you can click the language icon in the top right corner of the guide page to switch the language to your native language (for example, English in the Figure below).

 


        Click the WIOD folder on the guide page to go to the next page. For other folders, the page structure is the same. Please see below.

       


        All of the indicators in UIBE GVC Index are presented as five series (five folders from index1 to index5). Clicking the folder, you can look into the indexes inside. In each index folder, most of the indicators are stored in two data files, with formats of R (.RData) and csv. You can download the specific indicators and any type of data files as needed.

l   UIBE GVC Index System includes 5 categories of indexes:

n   Index 1: a series of indexes based on decomposition of sector value added (GDP by industry, forward linkage);

n   Index 2: a series of indexes based on decomposition of sector final product production (backward linkage);

n   Index 3: gross trade decomposition indexes, including gross exports, exports of intermediate goods and services, exports of final goods and services, gross imports, imports of intermediate goods and services, imports of final goods and services, and balance of trade at country and country-sector levels;

n   Index 4: a series of indexes based on decomposition of bilateral gross trade flows;

n   Index 5: indexes proposed by WWYZ (2016, SCID working paper), including the length and position of global value chains.

 

See the technical notes of UIBE GVC Index System (three documents in formats of word or PDF in the guide page) for more details, including detailed indexes and their concepts. And in the folder named doc, you can find the introductions on regional codes and sector codes of the original world’s ICIO tables.

 

l   Applications of Some Indicators

(in progress)

 

References

1.         Baldwin, Richard & Javier Lopez-Gonzalez, 2013. "Supply-Chain Trade: A Portrait of Global Patterns and Several Testable Hypotheses," NBER Working Papers 18957, National Bureau of Economic Research, Inc.

2.        Daria Taglioni and Deborah Winkler(ed)(2016), Making Global Value Chains work for Development, World Bank, Washington DC.

3.         Hummels, D., Ishii, J., and Yi, K-M. (2001). “The Nature and Growth of Vertical Specialization in World Trade.” Journal of International Economics, 54(1), 75-96.

4.        Johnson, Robert, and Guillermo Noguera. 2012. “Accounting for Intermediates: Production Sharing and Trade in Value-added,” Journal of International Economics, 86: 224–236.

5.         Koopman, R., Z. Wang, and S.J. Wei (2014) “Tracing Value-added and Double Counting in Gross Exports,” American Economic Review, 104(2): 1–37. or NBER wp18579(2012).

6.         Los B., Timmer M.P. De Vries, G.J. 2014, How Global are Global Value Chains? A New Approach to Measure International Fragmentation. Journal of Regional Science.

7.         Los, B., M. P. Timmer, and G. J. de Vries (2016): “Tracing Value-Added and Double Counting in Gross Exports: Comment,” The American Economic Review, 106, 1958–1966.

8.         Los Bart, Erik Dietzenbacher, Robert Stehrer, Marcel Timmer and Gaaitzen de Vries (2012), Trade Performance in Internationally Fragmented Production Networks: Concepts and Measures, WIOD Working Paper No.11, May 2012

9.         Mattoo, Aaditya, Zhi Wang and Shangjin Wei,Trade in Value-Added — Developing New Measures of Cross Border Trade, co-edited with CEPR/World Bank, April 2013. http://documents.worldbank.org/curated/en/2013/01/18821638/trade-value-added-developing-new-measures-cross-border-trade

10.    Robert Stehrer (2012), Trade in Value Added and the Value Added in Trade, WIOD Working Paper No. 8, April 2012.

11.    Robert Stehrer, Neil Foster, Gaaitzen de Vries (2012), Value Added and Factors in Trade: A Comprehensive Approach, WIOD Working Paper No.7, April 2012

12.     Timmer, M.P. , B. Los, R. Stehrer and G.J. de Vries, 2013, "Fragmentation, Incomes and Jobs: An Analysis of European Competitiveness" Economic Policy, 28, 613-661.

13.     Timmer, M.P., Erumban, A.A., Los, B., Stehrer, R., De Vries, G.J. 2014. Slicing Up Global Value Chains. Journal of Economic Perspectives, 28(2): 99-118.

14.     Timmer, Marcel P.(ed), 2012, "The World Input-Output Database (WIOD): Contents, Sources and Methods", WIOD Working Paper Number 10, downloadable at http://www.wiod.org/publications/papers/wiod10.pdf.

15.    Timmer, Marcel P., A. A. Erumban, J. Francois, A. Genty, R. Gouma, B. Los, F. Neuwahl, O. Pindyuk, J. Pöeschl, J. M. Rueda-Cantuche, R. Stehrer, G. Streicher, U. Temurshoev, A. Villanueva, and G. J. d. Vries (2012). The World Input-Output Database (WIOD): Contents, sources and methods. WIOD Background document available at www.wiod.org.

16.     Timmer, Marcel P., Bart Los, Robert Stehrer, Gaaitzen de Vries (2012), Fragmentation, Incomes and Jobs. An analysis of European competitiveness, WIOD Working Paper No.9, November 2012.

17.    Zhi Wang, Shang-Jin Wei, Kunfu Zhu, 2013. Quantifying International Production Sharing At The Bilateral And Sector Level. NBER Working Paper 19677, http://www.nber.org/papers/w19677.

18.    Wang, Z., Wei, S.J., Yu, X., Zhu, K. (2016). Characterizing Global Value Chains, Working paper, No. 578, Stanford Center for International Development, September. http://scid.stanford.edu/sites/default/files/publications/578wp.pdf