The world has been hit by the unprecedented shock of the COVID-19 pandemic that led to significant changes at economic and social levels. In particular, it created a series of disruptions to Global Value Chains (GVCs) in both the short run, such as lockdowns, and the longer run – such as quarantines, travel bans and restrictions. Consequently, countries that are heavily involved in such GVCs were strongly hit by the shock.
This EMEA policy paper, co-authored by Prof. Rym Ayadi, Prof. Giorgia Giovannetti, Dr. Enrico Marvasi, Giulio Vannelli, and Prof. Chahir Zaki, attempts to examine how the pandemic affects emerging markets through GVCs. The paper focuses on some Euro-Mediterranean countries that are fairly-well integrated and, to a certain extent, have developed a number of GVCs between the two shores of the Mediterranean.