This material is a review of the monograph edited by Anatoly A. Porokhovsky "Debt Problem as the 21st century's Phenomenon". The book discusses the causes, scale and reproduction role of different kinds and levels debts which are opened in national and world economy.
The issues of determining and assessing the effectiveness of national economic (macroeconomic) industries' integration into global value chains (GVC) are of great importance in the context of globalization processes revision. The paper provides the criterion basis for assessing comprehensive national economic (macroeconomic) efficiency of high-tech industries participation in GVCs based on the comparison of indicators of downward (Backward GVC) and upward (Forward GVC) industry links in GVCs and the indicator of revealed comparative advantage in trade (RCA). The author proposes and substantiates the criterion of effective macroeconomic integration — a combination in the dynamics of positive RCA and the excess of positive Forward GVC over Backward GVC. Drawing on the analysis of the Trade in Value Added indicators of the OECD database, the author argues that with such combinations the high-tech industry expands in foreign markets due to the outstripping growth of technological conversions with high added value in its territory, which has a beneficial effect on the growth rate of the national value-added indicator in the gross export of manufacturing industry. This expresses the effectiveness of national economic structural shifts, which indicates an increase in high-tech redistributions on the country territory, aimed at exporting products of manufacturing industries. The study reveals the success of the country 'import substitution' integration model of high-tech industries into GVCs. The analysis concludes with empirical cases from Kazakhstan pharmaceutical industry and digitalization of chemical global TNCs business flows providing a valid criterion for effective macroeconomic integration in GVCs.
