The policy response to global value chain disruption
Bibliographic Data
| ID | 21793103 |
|---|---|
| Authors | Uri Dadush (University of Maryland, Baltimore, corresponding author) |
| Year | 2023 |
| Volume | 14 |
| Issue | 3 |
| Pages | 548-557 |
| Publication date | 2023-06-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Global Policy (JOURNAL) |
| Journal identifiers | ISSN: 1758-5880 • E-ISSN: 1758-5899 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/1758-5899.13220 |
| OpenAlex | W4372359700 |
| Language | EN |
| Citations received | 4 |
| References cited | 3 |
This article considers how policymakers should react to the disruption of Global Value Chains, which became dramatically evident during the pandemic. It argues that repeated shocks to GVCs, as seen in recent years, are not purely random and disjointed events. They are the result of fundamental shifts in the geopolitical environment, global economy, and climate. Firms have concluded that international supply chains have become endemically riskier, and this is changing their risk/efficiency calculus. But there is no reason and – so far – little evidence to suggest that GVCs will stage a large‐scale retreat. Powerful economic forces are at work that will prompt increased reliance on GVCs and improve their operability in the future. Governments tend to overreact when faced with supply shocks, and unnecessarily impede GVCs; more nuanced and coordinated responses are needed. The WTO can play an important role, promoting the resilience of GVCs
Business · Economics · Geopolitics · Operability · Political science · Psychological resilience · Supply chain · Global trade and economics · Global trade, sustainability, and social impact · Law · Supply Chain Resilience and Risk Management
| Unique citing works | 4 |
|---|---|
| Citations per year | 2 |
| Citation span | 2024 - 2026 (3) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 3 |