44Received 27.05.2024. Revised 06.11.2024. Accepted 02.12.2024.
Acknowledgements. The research was funded by the Russian Science Foundation, Project no. 22-78-10110 “Russian companies in global value chains before and after the COVID‑19 pandemic: the effects of innovation and transformation of business models”.
Abstract. Structural shifts occurring in the global economy are changing the nature and mode of international expansion for multinational corporations (MNCs) and their participation in global production. However, scholars and researchers still have few tools to analyze such shifts, and studies of MNC behavior are often limited by data on foreign direct investment flows, which often do not reflect MNC participation in host countries. We use data from the AAMNE OECD database and demonstrate that using statistics on MNC output allows for a deeper understanding of the structural shifts in MNC participation in global production. The results confirm existing observations that the use of data on FDI flows is insufficient to provide a comprehensive assessment of MNCs’ participation in modern global production. The application of MNC output data also provides another perspective on the spread of global value chains and confirms the standard observation that the most active formation of global chains in the last two decades has been in the automotive and computer and electronics industries. The estimates obtained show that the absence of offshoring growth in the case of Chinese MNCs does not necessarily imply limited participation in foreign markets. Moreover, the expansion of offshoring production in developed countries (such as Germany, France, the United States) does not always lead to the spread of global value chains in manufacturing industries. In future research, it would be important to use data on MNC participation in the output of both home and host economies to analyze ongoing structural shifts and assess the effectiveness of industrial policy instruments.
Keywords: MNÑs, offshoring, reshoring, global value chains
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