The impact of industrial green development on manufacturing global value chain position in the Greater Mekong Sub-Region
摘要
Against a backdrop of tightening environmental rules such as carbon border adjustments and shifting supply-chain geographies, the Greater Mekong Sub-Region (GMS) faces a dual imperative to green manufacturing and movement upstream in Global Value Chains (GVCs). Amid modernization, this study incorporated Industrial Green Development (IGD) into an analytical framework for manufacturing global value chain production positions (GVCPs) in the GMS. We constructed a composite IGD index along three dimensions, namely growth/adaptive capacity, resource endowments and foundational/transition factors and tested its effects with a 2007–2021 panel covering five GMS economies (excluding Myanmar). Two-way fixed-effect estimates and mediation models showed that a stronger IGD significantly upgrades manufacturing GVCPs, operating indirectly through two channels: higher production efficiency and green technological innovation. Heterogeneity analyses indicated more pronounced gains in higher-development economies and in both mid- to high-end and mid-low-end manufacturing segments. Additionally, instrumenting IGD with the share of green energy consumption in a Two-Stage Least Squares (2SLS) framework revealed no evidence of endogeneity or weak instruments, reinforcing a causal interpretation. These results yield policy-relevant guidance for governments and firms seeking to leverage IGD to accelerate industrial upgrading and capture greater value along GVCs in the GMS.
Against a backdrop of tightening environmental rules, carbon border adjustments, and shifting supply-chain geographies, the Greater Mekong Subregion (GMS) faces a dual imperative to green manufacturing and move upstream in GVCs. Amid modernization, this paper incorporates industrial green development (IGD) into an analytical framework for manufacturing global value chain production positions (Gvcps) in the GMS. We construct a composite IGD index along three dimensions—growth/adaptive capacity, resource endowments, and foundational/transition factors—and test its effects with a 2007–2021 panel covering five GMS economies (excluding Myanmar). Two-way fixed-effects estimates and mediation models show that stronger IGD significantly upgrades manufacturing Gvcps, operating indirectly through two channels: higher production efficiency and green technological innovation. Heterogeneity analyses indicate more pronounced gains in higher-development economies and in both mid- to high-end and mid-low-end manufacturing segments. Additionally, instrumenting IGD with the share of green energy consumption in a 2SLS framework reveals no evidence of endogeneity or weak instruments, reinforcing a causal interpretation. These results yield policy-relevant guidance for governments and firms seeking to leverage IGD to accelerate industrial upgrading and capture greater value along GVCs in the GMS.