{"id":"https://openalex.org/W7225318754","doi":"https://doi.org/10.1111/twec.70176","title":"Unravelling the GVC \u2010Finance Nexus: Divergent Effects in Developed and Developing Economies","display_name":"Unravelling the GVC \u2010Finance Nexus: Divergent Effects in Developed and Developing Economies","publication_year":2026,"publication_date":"2026-11-05","ids":{"openalex":"https://openalex.org/W7225318754","doi":"https://doi.org/10.1111/twec.70176"},"language":"en","primary_location":{"id":"doi:10.1111/twec.70176","doi":"https://doi.org/10.1111/twec.70176","is_oa":true,"landing_page_url":"https://doi.org/10.1111/twec.70176","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/twec.70176","source":{"id":"https://openalex.org/S45372229","display_name":"World Economy","issn_l":"0378-5920","issn":["0378-5920","1467-9701"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The World Economy","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"bronze","oa_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/twec.70176","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5026530758","display_name":"P Jithin","orcid":"https://orcid.org/0000-0001-8666-0293","observed_orcids":["https://orcid.org/0000-0001-8666-0293"]},"institutions":[{"id":"https://openalex.org/I111245572","display_name":"Indian Institute of Management Raipur","ror":"https://ror.org/05vqbh574","country_code":"IN","type":"education","lineage":["https://openalex.org/I111245572"]}],"countries":["IN"],"is_corresponding":true,"raw_author_name":"P. Jithin","raw_affiliation_strings":["Department of Economics and Public Policy Indian Institute of Management Raipur  Raipur India"],"raw_orcid":"https://orcid.org/0000-0001-8666-0293","affiliations":[{"raw_affiliation_string":"Department of Economics and Public Policy Indian Institute of Management Raipur  Raipur India","institution_ids":["https://openalex.org/I111245572"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5026530758"],"corresponding_institution_ids":["https://openalex.org/I111245572"],"apc_list":{"value":3570,"currency":"USD","value_usd":3570},"apc_paid":null,"fwci":0.0,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":{"value":0.0,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.31200000643730164,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.31200000643730164,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.30959999561309814,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10128","display_name":"Global trade and economics","score":0.2257000058889389,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/global-value-chains","display_name":"global value chains","score":0.9670000076293945},{"id":"https://openalex.org/keywords/financial-development","display_name":"financial development","score":0.9760000109672546},{"id":"https://openalex.org/keywords/trade-openness","display_name":"trade openness","score":0.8690000176429749},{"id":"https://openalex.org/keywords/financial-openness","display_name":"financial openness","score":0.9959999918937683},{"id":"https://openalex.org/keywords/developed-and-developing-countries","display_name":"developed and developing countries","score":0.7080000042915344},{"id":"https://openalex.org/keywords/economic-growth","display_name":"economic growth","score":0.5569999814033508},{"id":"https://openalex.org/keywords/domestic-credit-to-the-private-sector","display_name":"domestic credit to private sector","score":0.7680000066757202},{"id":"https://openalex.org/keywords/gvc-integration","display_name":"GVC integration","score":0.5049999952316284}],"concepts":[{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.6963000297546387},{"id":"https://openalex.org/C63817138","wikidata":"https://www.wikidata.org/wiki/Q3455889","display_name":"Quantile regression","level":2,"score":0.6427000164985657},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6419000029563904},{"id":"https://openalex.org/C84976871","wikidata":"https://www.wikidata.org/wiki/Q2015673","display_name":"Openness to experience","level":2,"score":0.636900007724762},{"id":"https://openalex.org/C83864248","wikidata":"https://www.wikidata.org/wiki/Q177323","display_name":"Developing country","level":2,"score":0.5781000256538391},{"id":"https://openalex.org/C63479239","wikidata":"https://www.wikidata.org/wiki/Q7353546","display_name":"Robustness (evolution)","level":3,"score":0.5157999992370605},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.49900001287460327},{"id":"https://openalex.org/C2777747085","wikidata":"https://www.wikidata.org/wiki/Q5449743","display_name":"Financial sector development","level":3,"score":0.49619999527931213},{"id":"https://openalex.org/C2776076839","wikidata":"https://www.wikidata.org/wiki/Q5449705","display_name":"Financial deepening","level":3,"score":0.48330000042915344},{"id":"https://openalex.org/C2777382242","wikidata":"https://www.wikidata.org/wiki/Q6017816","display_name":"Index (typography)","level":2,"score":0.439300000667572},{"id":"https://openalex.org/C2780615719","wikidata":"https://www.wikidata.org/wiki/Q5449723","display_name":"Financial integration","level":3,"score":0.4284000098705292},{"id":"https://openalex.org/C60675406","wikidata":"https://www.wikidata.org/wiki/Q2049349","display_name":"Panel analysis","level":3,"score":0.4122999906539917},{"id":"https://openalex.org/C121087249","wikidata":"https://www.wikidata.org/wiki/Q546395","display_name":"Emerging markets","level":2,"score":0.4034000039100647},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.34700000286102295},{"id":"https://openalex.org/C44970651","wikidata":"https://www.wikidata.org/wiki/Q17014030","display_name":"Fixed effects model","level":3,"score":0.33640000224113464},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3278000056743622},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.30399999022483826},{"id":"https://openalex.org/C152877465","wikidata":"https://www.wikidata.org/wiki/Q208042","display_name":"Regression analysis","level":2,"score":0.29809999465942383},{"id":"https://openalex.org/C2994130051","wikidata":"https://www.wikidata.org/wiki/Q25103060","display_name":"Financial globalization","level":3,"score":0.29760000109672546},{"id":"https://openalex.org/C139043278","wikidata":"https://www.wikidata.org/wiki/Q837171","display_name":"Financial services","level":2,"score":0.28279998898506165},{"id":"https://openalex.org/C12725497","wikidata":"https://www.wikidata.org/wiki/Q810247","display_name":"Baseline (sea)","level":2,"score":0.27549999952316284},{"id":"https://openalex.org/C2986840890","wikidata":"https://www.wikidata.org/wiki/Q837171","display_name":"Financial sector","level":2,"score":0.2551000118255615},{"id":"https://openalex.org/C83546350","wikidata":"https://www.wikidata.org/wiki/Q1139051","display_name":"Regression","level":2,"score":0.2533999979496002}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1111/twec.70176","doi":"https://doi.org/10.1111/twec.70176","is_oa":true,"landing_page_url":"https://doi.org/10.1111/twec.70176","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/twec.70176","source":{"id":"https://openalex.org/S45372229","display_name":"World Economy","issn_l":"0378-5920","issn":["0378-5920","1467-9701"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The World Economy","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.1111/twec.70176","doi":"https://doi.org/10.1111/twec.70176","is_oa":true,"landing_page_url":"https://doi.org/10.1111/twec.70176","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/twec.70176","source":{"id":"https://openalex.org/S45372229","display_name":"World Economy","issn_l":"0378-5920","issn":["0378-5920","1467-9701"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The World Economy","raw_type":"journal-article"},"sustainable_development_goals":[{"score":0.9211000204086304,"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8"},{"score":0.4943999946117401,"display_name":"Industry, innovation and infrastructure","id":"https://metadata.un.org/sdg/9"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W7225318754.pdf","grobid_xml":"https://content.openalex.org/works/W7225318754.grobid-xml"},"referenced_works_count":44,"referenced_works":["https://openalex.org/W301454621","https://openalex.org/W819704293","https://openalex.org/W1503880164","https://openalex.org/W1588189399","https://openalex.org/W1827385976","https://openalex.org/W1861069097","https://openalex.org/W1964519826","https://openalex.org/W1983360714","https://openalex.org/W1984740228","https://openalex.org/W1999493408","https://openalex.org/W2009165039","https://openalex.org/W2014648357","https://openalex.org/W2035554302","https://openalex.org/W2081908573","https://openalex.org/W2096725814","https://openalex.org/W2097425676","https://openalex.org/W2103120585","https://openalex.org/W2104615763","https://openalex.org/W2124505431","https://openalex.org/W2127756437","https://openalex.org/W2127882594","https://openalex.org/W2130555915","https://openalex.org/W2134246329","https://openalex.org/W2152463964","https://openalex.org/W2156548261","https://openalex.org/W2615803758","https://openalex.org/W2784732031","https://openalex.org/W2947084323","https://openalex.org/W2990647798","https://openalex.org/W3021471202","https://openalex.org/W3023714059","https://openalex.org/W3095121361","https://openalex.org/W3121249962","https://openalex.org/W3121403162","https://openalex.org/W3122778615","https://openalex.org/W3122790390","https://openalex.org/W3123683947","https://openalex.org/W3136638679","https://openalex.org/W4220897363","https://openalex.org/W4290652565","https://openalex.org/W4388039156","https://openalex.org/W4393130995","https://openalex.org/W4408296068","https://openalex.org/W4417050166"],"related_works":["https://openalex.org/W4409983420","https://openalex.org/W3037936380","https://openalex.org/W607759592","https://openalex.org/W2259806868","https://openalex.org/W7211920458","https://openalex.org/W4415897732","https://openalex.org/W4290652565","https://openalex.org/W4401689953","https://openalex.org/W4411613507","https://openalex.org/W2123985991"],"abstract_inverted_index":{"ABSTRACT":[0],"This":[1],"study":[2],"examines":[3],"the":[4,24,85,122,135,153,158,167,170,175,189,195],"impacts":[5],"of":[6,27,77,124,186,204],"GVC":[7,46,65,100,199],"participation":[8,66,101],"and":[9,38,53,70,174],"its":[10],"components":[11],"on":[12,73],"financial":[13,28,51,56,59,74,81,106,183],"development":[14,75,107],"across":[15,201],"55":[16],"economies":[17,111,129],"from":[18],"2000":[19],"to":[20,43,166],"2018.":[21],"Grounded":[22],"in":[23,108,117,157],"openness":[25],"theory":[26],"development,":[29,83,184],"we":[30,162],"employ":[31,163],"panel":[32,35,40,93],"fixed":[33],"effects,":[34],"quantile":[36],"regression":[37,42,95],"dynamic":[39,92],"threshold":[41,94],"analyse":[44],"how":[45],"integration":[47],"through":[48],"trade":[49],"openness,":[50,52],"demand":[54],"for":[55,148,182,197],"services":[57],"influences":[58],"development.":[60,206],"Our":[61,192],"results":[62,193],"show":[63],"that":[64],"has":[67],"a":[68,78,97],"positive":[69],"significant":[71],"influence":[72],"regardless":[76],"country's":[79],"existing":[80],"market":[82],"though":[84],"effect":[86],"diminishes":[87],"at":[88],"higher":[89],"quantiles.":[90],"The":[91,141],"reveals":[96],"clear":[98],"dichotomy:":[99],"is":[102],"positively":[103],"associated":[104,114],"with":[105,115],"lower":[109],"growth":[110],"but":[112],"negatively":[113],"it":[116],"higher\u2010growth":[118],"economies.":[119],"We":[120],"verify":[121],"robustness":[123],"this":[125],"dichotomy":[126],"by":[127],"classifying":[128],"as":[130,179],"advanced":[131],"or":[132],"emerging":[133],"using":[134],"IMF":[136],"World":[137],"Economic":[138],"Outlook":[139],"classification.":[140],"bootstrap":[142],"bias\u2010corrected":[143],"fixed\u2010effects":[144],"results,":[145],"estimated":[146],"separately":[147],"each":[149],"income":[150],"group,":[151],"corroborate":[152],"divergent":[154],"effects":[155],"documented":[156],"main":[159],"analysis.":[160],"Additionally,":[161],"domestic":[164],"credit":[165],"private":[168],"sector,":[169],"Financial":[171,176],"Markets":[172],"Index,":[173],"Institutions":[177],"Index":[178],"alternative":[180],"proxies":[181],"all":[185],"which":[187],"confirm":[188],"baseline":[190],"findings.":[191],"underscore":[194],"need":[196],"tailored":[198],"strategies":[200],"different":[202],"stages":[203],"economic":[205]},"counts_by_year":[],"updated_date":"2026-11-10T11:39:43.021295","created_date":"2026-11-06T00:00:00"}
