This article examines whether low‐income countries can still benefit from participating in manufacturing global value chains (GVCs) in terms of broader industrial development in a global context of greater competition and higher requirements. It contends that developing internationally competitive local firms and domestic linkages, in addition to upgrading, is crucial for participation in GVCs to drive industrialization. The study focuses on Ethiopia's recent experience with developing an apparel export industry through strategic industrial policy. Based on original empirical data collected through firm‐level surveys and interviews with government officials, industry experts and buyers, the article analyses the upgrading and localization trajectories of foreign and local apparel‐exporting firms. It argues that value‐capture benefits in assembly positions in apparel GVCs have become more difficult. The potential for localization benefits depends on the type of global buyers and foreign producers and their levels of embeddedness, but whether this potential is realized also depends on local firm characteristics and related industrial policy. Ethiopia's industrial policy has been relatively successful regarding national economy linkages, but less successful in developing competitive local export firms due to a weak local manufacturing tradition combined with a global context that has led to a supplier squeeze.

中文翻译：

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埃塞俄比亚服装业的全球价值链，产业政策与经济升级

本文研究了在竞争加剧和要求更高的全球背景下，低收入国家是否仍可以从制造业全球价值链（GVC）的参与中受益，以促进更广泛的工业发展。它认为，除了升级外，发展具有国际竞争力的本地公司和国内联系对于参与全球价值链推动工业化至关重要。该研究集中于埃塞俄比亚最近通过战略性产业政策发展服装出口业的经验。基于通过公司层面的调查以及与政府官员，行业专家和买家的访谈收集的原始经验数据，本文分析了外国和本地服装出口公司的升级和本地化轨迹。它认为，服装全球价值链的装配位置的价值获取收益变得更加困难。本地化收益的潜力取决于全球购买者和外国生产商的类型及其嵌入程度，但能否实现这一潜力还取决于本地公司的特征和相关的产业政策。埃塞俄比亚的产业政策在国民经济联系方面取得了相对成功，但由于当地制造业传统薄弱加上全球环境导致供应商紧缩，在发展具有竞争力的地方出口公司方面不太成功。但是能否实现这种潜力还取决于当地公司的特征和相关的产业政策。埃塞俄比亚的产业政策在国民经济联系方面取得了相对成功，但由于当地制造业传统薄弱加上全球环境导致供应商紧缩，在发展具有竞争力的地方出口公司方面不太成功。但是能否实现这种潜力还取决于当地公司的特征和相关的产业政策。埃塞俄比亚的产业政策在国民经济联系方面取得了相对成功，但由于当地制造业传统薄弱加上全球环境导致供应商紧缩，在发展具有竞争力的地方出口公司方面不太成功。