زنجیره ارزش و رکود بزرگ: شواهد از شرکت های ایتالیایی و آلمانی

Global Value Chains (GVCs) were one of the main transmission mechanisms of the 2009 great trade collapse. Our paper describes the effects of the crisis from a country-comparative perspective (Germany and Italy) and at firm level. There are two main conclusions: i) supplier firms were hit by the crisis more than final firms; ii) firms’ position in GVCs and their strategies explain part of the performance gap between Italian and German firms.