Riccardo Crescenzi (p)

This talk will discuss why global value chains (GVCs) and foreign direct investment (FDI) matter for regional development and how regions can leverage them for upgrading, innovation, and economic development. Specifically, the discussion will focus on how regions can build, embed, and reshape GVCs to their local enhancement in a changing geo-political and economic landscape.

This talk will propose a new generation of GVC-sensitive regional development policies that target specific segments of selected GVCs, employing them as stepping-stones for local upgrading, innovation, and development. This is about gradual change on the strengths that are already present in local economies, shifting the focus of regional policies from specific sectors and technologies towards tasks and local value generation. Some reflections on how GVCs can support regions in the digital and green transitions will conclude the talk.