Global Value Chains in a Postcrisis World: A Development Perspective

The world is in the midst of a sporadic and painful recovery from the most severe economic crisis since the 1930s' Great Depression. The unprecedented scale of the crisis and the speed of its transmission have revealed the interdependence of the global economy and the increasing reliance by businesses on global value chains (GVCs). These chains represent the process of ever-finer specialization and geographic fragmentation of production, with the more labor-intensive portions transferred to developing countries. As the recovery unfolds, it is time to take stock of the aftereffects and to draw lessons for the future. Have we experienced the first global crisis of the 21st century or a more structural crisis of globalization? Will global trade, demand, and production look the same as before, or have fundamental changes occurred? How have lead firms responded to the crisis? Have they changed their supply chain strategies? Who are the winners and losers of the crisis? Where are the engines of recovery?

Global Value Chains in a Postcrisis World: A Development Perspective attempts to answer these questions by analyzing business reactions to the crisis through the lens of GVCs. After reviewing the mechanisms underpinning the transmission of economic shocks in a world economy where trade and GVCs play increasing roles, the book assesses the impact of the crisis on global trade, production, and demand in a variety of sectors, including apparel, automobiles, electronics, commodities, and off-shore services. The book offers insights on the challenges and opportunities for developing countries, with a particular focus on entry and upgrading possibilities in GVCs postcrisis. Business strategies and related changes in GVCs are also examined, and the book offers concrete policy recommendations and suggests a number of interventions that would allow developing countries to better harness the benefits of the recovery. This volume is a useful tool for anyone interested in global trade, business, and development issues.

"This book contains invaluable insights and analysis of the microeconomic structures underpinning 21st century globalization, with its opportunities and vulnerabilities."

-- Kemal DervisVice President, Brookings Institution, Washington, DC Former Executive Head, United Nations Development Programme, New York, New York

"The world economy is in a bit of a muck. The impact of the 2008-09 crisis is still vivid. The great challenges and transformations require, among other things, original thinking and more sophisticated and relevant conceptualisation of current global realities. In that context, Global Value Chains in a Postcrisis World is a beacon; it sheds light and will serve as a perceptive guide to analysis and policy making."

-- Jean-Pierre LehmannProfessor of International Political Economy, IMD, and Founding Director, The Evian Group, Lausanne, Switzerland

"This is an excellent path-breaking work on the 'trade forensics' of the 2008-09 crisis that also provides a valuable depiction of key challenges ahead of us. It is a great resource for policy makers and trade researchers alike."

-- Ernesto ZedilloDirector, Yale Center for the Study of Globalization, New Haven, Connecticut, Former President of Mexico

• Shipping Weight: 1.24 lbs (0.56 kgs)

• Managing Openness (English, Paperback)

Customers who bought this title also purchased...

Draining development?

Rents to Riches?

Ascent after Decline

Exporting Services

Trade Competitiveness Diagnostic Toolkit

Some Small Countries Do It Better