In addition, numerous studies suggest that global production chains can boost productivity growth through a great many channels, from increased competitive pressure to knowledge spillovers from foreign firms. 9 And economists believe that the feeble productivity growth in _____________  9 C. Criscuolo and J. Timmis (2017), The Relationship between Global Value Chains and Productivity, Inter-  national Productivity Monitor, Vol. 32, pp. 61-83.
Page 11 of 19 Deutsche Bundesbank, Directorate General Communications Wilhelm-Epstein-Strasse 14, 60431 Frankfurt am Main, Germany, tel. : +49 (0)69 9566 3511, fax: +49 (0)69 9566 3077 presse@bundesbank.de, www.bundesbank.de Reproduction permitted only if source is stated. evidence following the financial crisis has something to do with the loss of momentum in both global trade and the expansion of production chains.