Keun Lee and Isabel Álvarez

Keun Lee and Isabel Álvarez

Keun Lee is former vice chair of the National Economic Advisory Council for the President of South Korea. Isabel Álvarez is Professor of Applied Economics at Universidad Complutense de Madrid.

The Costs And Benefits Of Global Value Chains

Recent research suggests that backward GVC participation is more likely to boost a country’s economic growth, whereas forward participation is more likely to undermine it. But beneath this headline lies a lot of nuance.

Keun Lee and Isabel Álvarez

June 26, 2025 at 6:50 AM IST

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