Central and Eastern European States from an International Perspective: Economic Potential and Paths of Participation in Global Value Chains

Abstract

This article presents the Central and Eastern European (CCE) countries and their role in global value chains (GVCs). The analysis consists of two steps. Firstly, we evaluated the economic potential of CEE countries. Secondly, we assessed the role of CEE states in international production linkages. We tested the hypothesis that the higher economic potential expressed in a more business-friendly economy is found in a country most involved in GVC in the context of foreign trade exchange. Results confirm that the relation between economic potential and the involvement of GVCs is not obvious and depends on many factors.