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Noneconomic Objectives, Global Value Chains and International Cooperation

Author

Listed:
  • Bernard M. Hoekman

    (European University Institute
    Centre for Economic Policy Research)

  • Petros C. Mavroidis

    (Columbia Law School)

  • Douglas R. Nelson

    (Tulane University)

Abstract

Systemic conflicts increasingly affect the global value chains (GVCs) underpinning globalization by creating policy uncertainty and politicizing trade and investment decisions. Unilateral policies to attain competitiveness and noneconomic objectives (NEOs), including national security, create incentives for international cooperation to attenuate policy spillovers. Recent initiatives seeking to do so are organized around supply chain governance and need not be anchored in trade agreements. Whether such cooperation is feasible and can be designed to be effective in realizing NEOs is unclear. Plurilateral GVC-centered cooperation offers a potential path for states to pursue NEOs and reduce policy uncertainty for international business. Research offers little guidance to policymakers on the design of such cooperation. A key open question is to determine whether explicit market access commitments are necessary to sustain cooperation. Creating mechanisms for the epistemic communities that are concerned with a specific NEO or policy area to interact with stakeholders and lead firms operating international production networks can help inform the design of cooperation to attain NEOs more efficiently.

Suggested Citation

  • Bernard M. Hoekman & Petros C. Mavroidis & Douglas R. Nelson, 2023. "Noneconomic Objectives, Global Value Chains and International Cooperation," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 9(3), pages 1089-1110, November.
    • Handle: RePEc:spr:italej:v:9:y:2023:i:3:d:10.1007_s40797-023-00240-8
    DOI: 10.1007/s40797-023-00240-8
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    More about this item

    Keywords

    Globalization; Geopolitics; National security; Noneconomic objectives; Supply chain clubs;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General

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