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Measuring Structural Power in Global Value Chains: Evidence from Malaysian Manufacturing

Author

Listed:
  • Miao Zhang

    (Center for Southeast Asian Studies, Xiamen University)

  • Rui Yang

    (Center for Southeast Asian Studies, Xiamen University)

  • Rajah Rasiah

    (Asia-Europe Institute, Universiti Malaya)

  • Mingzhang Jiang

    (School of Economics, Xiamen University)

Abstract
The global value chain (GVC), as the most important feature and driving force of globalisation has profoundly shaped state–market relations, as well as the international political economy. This paper uses Malaysia as a case study to demonstrate a country’s embedding structural power in GVC. Deploying the OECD’s Inter-Country Input-Output Table from 1995 to 2018, two indicators were constructed, namely power of value added (PV) and interaction of value added (IV), to measure Malaysia’s structural power in GVC. The results indicate that Malaysia’s PV in GVCs has declined over the years. A combination of high GVC participation but low GVC position indicates that Malaysia’s export sector remains stuck in low value-added activities despite being highly integrated into global production networks. Also examined is the value-added interaction between Malaysia and major economic powers, such as the US, China and Japan. In so doing, we provide an evolutionary explanation of Malaysia’s location in the international political economic system where economic and political power are increasingly intertwined.

Suggested Citation

  • Miao Zhang & Rui Yang & Rajah Rasiah & Mingzhang Jiang, 2024. "Measuring Structural Power in Global Value Chains: Evidence from Malaysian Manufacturing," Malaysian Journal of Economic Studies, Faculty of Business and Economics, University of Malaya & Malaysian Economic Association, vol. 61(1), pages 51-77, January.
    • Handle: RePEc:mjr:journl:v:61:y:2024:i:1:p:51-77
    DOI: 10.22452/MJES.vol61no1.4
    as

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    More about this item

    Keywords

    Global value chain; trade in value added; structural power; Malaysia;
    All these keywords.

    JEL classification:

    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • L63 - Industrial Organization - - Industry Studies: Manufacturing - - - Microelectronics; Computers; Communications Equipment
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • N45 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Asia including Middle East
    • N65 - Economic History - - Manufacturing and Construction - - - Asia including Middle East

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