World economy and international economic relations

Small and medium-sized enterprises in global value chains

Economic Annals-XXI

Economic Annals-ХХI: Volume 162, Issue 11-12, Pages: 22-27

Citation information:
Kuzmisin, P., & Kuzmisinova, V. (2016). Small and medium-sized enterprises in global value chains. Economic Annals-XXI, 162(11-12), 22-27. doi: https://doi.org/10.21003/ea.V162-05

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Peter Kuzmisin
D.Sc. (Economics),
Associate Professor,
Faculty of Economis,
Technical University of Kosice
32 Nemcovej Str., Kosice, 04001, Slovak Republic
peter.kuzmisin@tuke.sk

Viera Kuzmisinova
PhD (Economics),
Associate Professor,
Department of Business, Management and Marketing,
International School of Management Slovakia
1 Duchnovitch Square, Presov, 080 01, Slovak Republic
kuzmisinova@ismpo.sk

Small and medium-sized enterprises in global value chains

Abstract. This article is dedicated to possibilities and importance of SMEs’ involvement in global value chains (GVCs). The purpose of this paper is to identify the position of SMEs and their opportunities in GVCs in the context of development processes taking place in GVCs and the world economy. To meet the objectives of the research, the authors formulated the following questions; «What is the state of the art of GVCs issues in literature in the context of international economic relations and efficiency?», «What are the positions, potential and opportunities for SMEs in GVCs?», «What solutions would contribute to more effective functioning of GVCs in the overall productive process?». The theoretical part of the paper points out that the nature and impact of GVCs on various aspects of economic processes can be examined from different perspectives. In the analytical part, attention is paid to small and medium-sized enterprises in the EU and GVCs concerning the next issues: determinants of businesses participation in GVCs; perceived benefits of SMEs’ participation in GVCs; advantages of SMEs’ participation in GVCs; importance of SMEs for economic progress and their participation in GVCs. The main results and discussion are related to the following areas: steps to improve functioning of GVCs in the overall productive process and implementation of recommendations for future government support for SMEs’ internationalising. In conclusion, the authors of the article mentioned and summarised issues and topics for further research in the area of GVCs, namely: competitiveness, trade, services, investment, economic development, as well as adaptation and risk areas of GVCs.

Keywords: Small and Medium-sized Enterprises; Global Value Chains; European Union; Internationalisation; OECD

JEL Classification: F23; M21; Z00

Acknowledgements. This paper is the result of the project VEGA 1/0961/16: «Economic Implications and Perspectives of the Participation of the Slovak Republic in the Process of Production Activities Fragmentation within Global Value Chains».

DOI: https://doi.org/10.21003/ea.V162-05

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Received 7.11.2016

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