This paper tries to examine how the COVID-19 shock affects different countries through their regional integration and their exposure to Global Value Chains (GVCs). Using input–output tables from the EORA dataset, our contribution is threefold. First, we conceptually revise the approache to analyse input–output relationships and underline the difference between the bilateral flow of value added and trade and distinguish between the producers and consumers of value-added. Second, we distinguish between the supply and demand channels through which these countries can be affected by the disruptions in GVCs. Third, we apply this empirical exercise on an understudied region, namely the Mediterranean region that is characterised by its involvement in several trade agreements that might boost their integration into GVCs. Our main findings show that, first, most of the countries have relatively larger backward GVC linkages than forward ones. Second, in the Northern shore of the Mediterranean, Italy and France are net suppliers of value added since they produce more value-added absorbed abroad than the foreign value-added they consume. Third, our results highlight also the limited integration between Southern shore partners, whose integration is almost completely driven by linkages with Southern European developed countries.

中文翻译：

---

全球价值链中的需求和供应风险：COVID 期间的欧洲-地中海国家

本文试图研究 COVID-19 冲击如何通过区域一体化和全球价值链 (GVC) 影响不同国家。使用来自 EORA 数据集的输入-输出表，我们的贡献是三倍的。首先，我们在概念上修改了分析投入产出关系的方法，强调了增值和贸易双边流动之间的差异，区分了增值的生产者和消费者。其次，我们区分了这些国家可能受到全球价值链中断影响的供需渠道。第三，我们将这一实证研究应用于一个未被充分研究的地区，即地中海地区，该地区的特点是参与了若干可能促进其融入全球价值链的贸易协定。我们的主要发现表明，首先，大多数国家的全球价值链后向联系比前向联系更大。其次，在地中海的北岸，意大利和法国是增加值的净供应者，因为它们生产的在国外吸收的增加值比它们消耗的外国增加值要多。第三，我们的结果还强调了南岸合作伙伴之间的有限整合，其整合几乎完全由与南欧发达国家的联系驱动。