Abstract
We propose a new “global” market share indicator that complements the traditional export market share analysis by accounting for the foreign value added embodied in the production process and for the performance of national firms on their domestic market. We also consider all the income from activities used in the production to address the manufacturing final demand, namely all activities within the manufacturing value chain. Our results show that the role of services is growing in global value chains. Interestingly, considering our global indicator makes the dynamics of market shares converge among large economies, which can be explained by a de-correlation between national and export performances. This de-correlation appears to reflect greater specialization within global manufacturing value chains.
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