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Value chains and domestic competitiveness
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External Authors
Gasiorek, M
Smith, A
Tamberi, N
Related Themes
Productivity, Trade, and Regional EconomiesJEL Code
F6, F14, F15, F17; F42
Journal
National Institute Economic Review
Publisher
Cambridge University Press
External Resources
Issue
252
With international trade increasingly undertaken within vertically fragmented supply chains, this paper considers the impact of changes in trade costs on domestic output. In the context of the UK’s exit from the EU we show that the negative impact on UK output will depend on changes in both domestic and export competitiveness. Since for many firms the majority of their sales are to the domestic market, the domestic competitiveness impact may be quantitatively more important. The impact on output will be more significant the greater the integration of firms in international supply chains, and the greater the asymmetric impact of leaving the EU on UK firms relative to EU firms.
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