Harnessing Global Value Chains for regional development How to upgrade through regional policy, FDI and trade Regional Studies Policy Impact Books Series

This Regional Studies Policy Impact Book brings together the latest academic evidence and public policy insights with global value chains (GVCs) and foreign direct investment (FDI). It comprises a comprehensive description and explanation of why they matter for regional development and policy. It focuses on how sub-national regions can leverage them for innovation and upgrading, or "levelling up". Specifically, its attention is on how regions can build, embed and reshape GVCs to their local enhancement.

The book makes the case for proactive sub-national public policy, on the engagement of GVCs. Vertically engaging with FDI rather than setting the ground and letting manna drop from heaven. Its chosen approach is three-fold. First, it looks at why. Why GVCs and FDI matter and why sub-national policymakers should focus their attention on upgrading. It critically reviews different streams of research and evidence. This is in order to identify key definitions and conceptual foundations for the analysis of the link between GVCs, FDI and innovation at the sub-national and local level. Second, it looks at what. This is through new conceptualisations and critical insights on the regional drivers and impacts of global connectivity, bridging macro-international and micro-firm level approaches. Third, is the critical how. How policymakers can leverage GVCs and FDI for their regional benefit. It aims to review empirical evidence and available policy evaluation in order to highlight what works (and what does not) when leveraging these concepts to shape public policies with particular reference to less developed regions.

If the above is of interest, then the book is for you. It is based on leading academic literature but uses non-technical language throughout making it engaging for policymakers, researchers and students alike.

1. Introduction 2. Why do GVCs matter for regions: Key concepts, definitions and trends 3. How to upgrade through regional policy: building GVCs through FDI 4. How to upgrade through regional policy: embedding GVCs through FDI 5. How to upgrade through regional policy: reshaping GVCs through FDI 6. Looking to the future and useful tools for leveraging GVCs

Riccardo Crescenzi is a Professor of Economic Geography at the London School of Economics and Political Science (LSE), UK.

Oliver Harman is a Cities Economist for the International Growth Centre’s (IGC) Cities that Work initiative based at the Blavatnik School of Government, University of Oxford, UK, and Associate Staff at the London School of Economics and Political Science (LSE), UK.