--- canonical_url: "https://csls.ca/ipm-archive/ipm-issue-36/global-value-chains-and-productivity-growth-in-advanced-economies-does-intangible-capital-matter/" title: "Global Value Chains and Productivity Growth in Advanced Economies: Does Intangible Capital Matter?" author: name: "CSLS" url: "https://csls.ca/author/cslc/" date_published: "2026-07-13T07:52:47+00:00" date_modified: "2026-07-13T07:52:47+00:00" post_type: "ipm" summary: "" ipm_issue_period: - "Spring 2019" ipm_keyword: - "1998-2013" - "backward participation" - "complementarity" - "Europe" - "GVC" - "intangible capital" - "ISTAT" - "organizational capital" - "productivity" ipm_research_theme: - "Technology and innovation" - "Trade" ipm_country_focus: - "Europe" - "International" featured_image: "https://csls.ca/wp-content/uploads/2026/06/IPM_50_banner.webp" status: "publish" --- # Global Value Chains and Productivity Growth in Advanced Economies: Does Intangible Capital Matter? Canonical URL: https://csls.ca/ipm-archive/ipm-issue-36/global-value-chains-and-productivity-growth-in-advanced-economies-does-intangible-capital-matter/ # Global Value Chains and Productivity Growth in Advanced Economies: Does Intangible Capital Matter? [Download full PDF article](https://csls.ca/wp-content/uploads/2026/07/IPM-Issue-36-4-Jona-Lasinio-Meliciana.pdf) Cite this article × Cite this article as: Jona-Lasinio, Cecilia, and Valentina Meliciani. 2019. “Global Value Chains and Productivity Growth in Advanced Economies: Does Intangible Capital Matter?” International Productivity Monitor, No. 36 (Spring 2019): 53–78. https://www.csls.ca/ipm-archive/ipm-issue-36/global-value-chains-and-productivity-growth-in-advanced-economies-does-intangible-capital-matter/ ## Authors: - Cecilia Jona-Lasinio ISTAT - Valentina Meliciani LUISS Guido Carli University ## IPM Issue 36 Spring 2019 pp. 53–78 ## Related IPM articles [The Relationship between Efficiencies Defenses for Mergers and TFP Growth Robin Shaban Fall 2025 | IPM Issue 49 | pp. 82–102](https://csls.ca/ipm-archive/ipm-issue-49/the-relationship-between-efficiencies-defenses-for-mergers-and-tfp-growth/) [Adult Skills and Productivity: New Evidence from PIAAC 2023 Dan Andrews, Balázs Égert, Christine de La Maisonneuve Fall 2025 | IPM Issue 49 | pp. 41–63](https://csls.ca/ipm-archive/ipm-issue-49/adult-skills-and-productivity-new-evidence-from-piaac-2023/) [The Potential Impact of Pro-competitive Regulatory Reforms on Productivity and Growth in Canada Gilbert Cette, Jimmy Lopez, Giuseppe Nicoletti, Océane Vernerey Fall 2025 | IPM Issue 49 | pp. 3–40](https://csls.ca/ipm-archive/ipm-issue-49/the-potential-impact-of-pro-competitive-regulatory-reforms-on-productivity-and-growth-in-canada/) [Appendix: UK Productivity Growth Rates Across Data Vintages and Studies Josh Martin Spring 2025 | IPM Issue 48 | pp. 65–73](https://csls.ca/ipm-archive/ipm-issue-48/appendix-uk-productivity-growth-rates-across-data-vintages-and-studies/) [Opportunities and Risks of Artificial Intelligence for Productivity Francesco Filippucci, Peter Gal, Katharina Laengle, Matthias Schief, Filiz Unsal Spring 2025 | IPM Issue 48 | pp. 1–26](https://csls.ca/ipm-archive/ipm-issue-48/opportunities-and-risks-of-artificial-intelligence-for-productivity/) [Using Ecosystem Accounting to Integrate the Environment in Measures of Multifactor Productivity Carl Obst Fall 2024 | IPM Issue 47 | pp. 87–108](https://csls.ca/ipm-archive/ipm-issue-47/using-ecosystem-accounting-to-integrate-the-environment-in-measures-of-multifactor-productivity/) [Eroding Natural Capital: An Alternative Explanation for the Secular Decline in Productivity Growth Christina Caron Fall 2024 | IPM Issue 47 | pp. 109–147](https://csls.ca/ipm-archive/ipm-issue-47/eroding-natural-capital-an-alternative-explanation-for-the-secular-decline-in-productivity-growth/) [Climate Change and Productivity — An Exploration Dirk Pilat Fall 2024 | IPM Issue 47 | pp. 54–86](https://csls.ca/ipm-archive/ipm-issue-47/climate-change-and-productivity-an-exploration/) [How Does Industrial Policy Impact Output, Hours and Productivity? The Canadian Experience Tim Sargent Fall 2024 | IPM Issue 47 | pp. 39–53](https://csls.ca/ipm-archive/ipm-issue-47/how-does-industrial-policy-impact-output-hours-and-productivity-the-canadian-experience/) [Could Domestic Industrial Policies, Even With Global Fragmentation, Revive Productivity? Catherine Mann Fall 2024 | IPM Issue 47 | pp. 3–19](https://csls.ca/ipm-archive/ipm-issue-47/could-domestic-industrial-policies-even-with-global-fragmentation-revive-productivity/) ## Abstract ## Résumé EN FR Copy link Email LinkedIn This article investigates the impact of participation in global value chains (GVCs) on productivity growth considering the mediating effect of investment in intangible assets. We explore the existence of synergies between intangible capital accumulation and GVC participation and their influence on productivity in a sample of nine European economies in 1998-2013. The analysis relates the macroeconomic literature on the impact of intangibles and GVCs on productivity growth to microeconomic studies about the functions of intangibles along the value chain. The existence of complementarities between intangibles and GVC participation and their productivity effects are tested in an augmented production function framework. We find: a) positive and statistically significant productivity impact of backward participation; b) the marginal effect of GVC participation on growth is greater in countries-industries with higher intensity of intangible capital; c) non-R&D intangibles, and particularly organizational capital, exert a significant conditional effect on backward participation strengthening the productivity returns of global production activity. Cet article examine l’impact de la participation aux chaînes de valeur mondiales (CVM) sur la croissance de la productivité en tenant compte de l’effet médiateur de l’investissement dans les actifs immatériels. Nous explorons l’existence de synergies entre l’accumulation de capital immatériel et la participation aux CVM et leur influence sur la productivité dans un échantillon de neuf économies européennes en 1998-2013. L’analyse relie la littérature macroéconomique sur l’impact des actifs immatériels et des CVM sur la croissance de la productivité aux études microéconomiques sur les fonctions des actifs immatériels dans la chaîne de valeur. Nous constatons un impact positif et statistiquement significatif de la participation en amont sur la productivité, et que l’effet marginal de la participation aux CVM sur la croissance est plus important dans les pays disposant de stocks d’actifs immatériels plus importants. 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