Abstract
This paper examines the effect of global value chain (GVC) participation on export diversification using a dataset covering 134 countries from 2002 to 2018. Applying the two-step System GMM estimator, we find that GVC participation contributes to the diversification of both export products and export partners. Our empirical results further reveal that this positive effect powerfully works through backward GVC participation, while the impact of forward GVC participation on export product diversification varies among countries with different levels of trade liberalization and policy stability.
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