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Mechanistic Framework of Global Value Chains

Author

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  • Sourish Dutta

    (Centre for Development Studies, Trivandrum - Centre for Development Studies, Trivandrum)

Abstract

Indeed, the global production (as a system of creating values) is eventually forming like a gigantic and complex network/web of value chains that explains the transitional structures of global trade and development of the global economy. It's truly a new wave of globalisation, and we term it as the global value chains (GVCs), creating the nexus among firms, workers and consumers around the globe. The emergence of this new scenario asks– how an economy's firms, producers and workers connect in the global economy. And how are they capturing the gains out of it in terms of different dimensions of economic development? This GVC approach is very crucial for understanding the organisation of the global industries and firms. It requires the statics and dynamics of diverse players involved in this complex global production network. Its broad notion deals with different global issues (including regional value chains also) from the top down to the bottom up, founding a scope for policy analysis (Gereffi & Fernandez-Stark 2011). But it is true that as Feenstra (1998) points out, any single computational framework is not sufficient to quantification this whole range of economic activities. We should adopt an integrative framework for accurate projection of this dynamic multidimensional phenomenon.

Suggested Citation

  • Sourish Dutta, 2021. "Mechanistic Framework of Global Value Chains," Post-Print hal-03271573, HAL.
    • Handle: RePEc:hal:journl:hal-03271573
    DOI: 10.2139/ssrn.3762963
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    References listed on IDEAS

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    1. Robert C. Feenstra, 1998. "Integration of Trade and Disintegration of Production in the Global Economy," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 31-50, Fall.
    2. Pol Antràs & Teresa C. Fort & Felix Tintelnot, 2017. "The Margins of Global Sourcing: Theory and Evidence from US Firms," American Economic Review, American Economic Association, vol. 107(9), pages 2514-2564, September.
    3. Teresa C. Fort, 2017. "Technology and Production Fragmentation: Domestic versus Foreign Sourcing," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 84(2), pages 650-687.
    4. Pol Antràs, 2015. "Global Production: Firms, Contracts, and Trade Structure," Economics Books, Princeton University Press, edition 1, number 10613.
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    Cited by:

    1. Anirudh Venkatarman & A. Dunstan Rajkumar, 2024. "Cross-Sectioning Sustainable Supply Chain Governance: A Bibliometric Analysis," International Review of Management and Marketing, Econjournals, vol. 14(3), pages 34-46, May.

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    More about this item

    Keywords

    Global Value Chains; Global Production Network; International Trade;
    All these keywords.

    JEL classification:

    • F0 - International Economics - - General
    • F1 - International Economics - - Trade
    • F2 - International Economics - - International Factor Movements and International Business

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