Abstract

LANDA DIAZ, Heri Oscar  and  CEREZO GARCIA, Verónica. Export Dynamics, Value Chains And Industrialization Patterns in Mexico and South Korea, 1995-2020. Inv. Econ [online]. 2025, vol.84, n.331, pp.92-116.  Epub Aug 29, 2025. ISSN 0185-1667.  https://doi.org/10.22201/fe.01851667p.2025.331.90250.

The aim of this paper is to examine, through a panel model, the impact of integration into global value chains (GVCS) on industrial development (13 manufacturing subsectors) in Mexico and South Korea during the period 1995-2020. The main findings indicate that: i) offshoring promotes positive effects on industrial performance, although those effects are more relevant for South Korea; ii) the position within GVCS determines the internalization of the dynamic gains associated with openness; iii) the inflation targeting and wage deflation model, in the absence of an effective industrial policy, has contributed to slowdown productivity and output growth. Hence we conclude that the nature of Mexico’s industrial specialization pattern constitutes a determining element of the observed low drag and dispersion potential of the manufacturing sector.

Keywords : Industrial development; global value chains; economic growth; panel model; O14; F14; O40; C33.

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