Risks and Opportunities of Participation in Global Value Chains
Journal Title: Journal of Banking and Financial Economics - Year 2015, Vol 2, Issue 4
Abstract
Risk is inherent to the pursuit of opportunity. This paper draws on the recent literature and looks at the risks and opportunities firms and their workers face in the global value chains. First, it examines the sharing mechanisms that firms provide from the national and global perspectives; second, it takes a closer look at the new opportunities and challenges for firms and individuals in the global arena; third, it discusses the role of economic upgrading and social upgrading; and finally it sheds light on how the government can help people manage risks and reap the benefits of participation in global value chains.
Authors and Affiliations
Gary Gereffi, Xubei Luo
Keywords
Related Articles
- EP ID EP347809
- DOI 10.7172/2353-6845.jbfe.2015.2.4
- Views 98
- Downloads 0
EU banks after the crisis: sinners in the hands of angry markets
European Union banks were severely hit by the global financial crisis in 2008 and their stock prices and returns have generally not recovered since then, differently to what has been observed in other sectors (i.e., non-...
A global perspective on inflation and propagation channels
This paper revisits the evidence on monetary policy transmission. It extends the existing literature in three dimensions. First, we attempt to internalise potential international channels of transmission by taking a glob...
Global Thermoeconomics
This paper illustrates that basic global economic concepts can be directly related to the First and Second Laws of Thermodynamics. We believe that all economic returns are from nothing except from current and past human...
Does persistence in idiosyncratic risk proxy return-reversals?
Understanding the return-reversal phenomenon observed to generate large abnormal profits under some stock market trading strategies is of considerable interest in finance. There is also much debate over the use of idiosy...
The relationship between distance-to-default and CDS spreads as measures of default risk for European banks
CDS spreads are often seen as the ’leading’ market based, default risk measure. There is no popular alternative to CDS spreads except perhaps for the distance-to-default (D2D) measure based on Merton (1974), which comes...