How to climb up the World Economic League Table? Central and Eastern Europe in global value chains

Abstract

The main objective of the article is to present the characteristics of the contemporary wave of globalization on the basis of the concept of global value chains (GVCs) and to draw on this basis positive and normative implications for the countries of Central and Eastern Europe. In particular, we have outlined the nature of the challenges currently faced by these countries and ref lected on the desirable directions of public policies. Special attention has been given to technological development that enables gaining high value added. Theoretical considerations have been supplemented and supported by empirical arguments in the form of indices of integration of economies in the GVCs, as well as by the conclusions from the economic literature.