Key Concepts in Economic Geography is a new kind of textbook that forms part of an innovative set of companion texts for the human geography sub-disciplines. Organized around 20 short essays, this book provides a cutting edge introduction to the central concepts that define contemporary research in economic geography. Involving detailed and expansive discussions, the book includes:
An introductory chapter providing a succinct overview of the recent developments in the field; Over 20 key concept entries with comprehensive explanations, definitions, and evolutions of the subject; Extensive pedagogic features that enhance understanding including figures, diagrams, and further reading
An ideal companion text for advanced undergraduate and graduate students in economic geography, the book presents the key concepts in the discipline, demonstrating their historical roots, and contemporary applications to fully understand the processes of economic change, regional growth and decline, globalization, and the changing locations of firms and industries. Written by an internationally recognized set of authors, the book is an essential addition to any geography student's library.
Chapter 4.4: Global Value Chains
Global Value Chains
The global value chain (GVC) concept explains how the supply chains linking manufacturers and consumers in advanced industrial economies to producers based in developing economies are governed through transnational networks. Beyond mapping global commodity and value flows, GVC also explains why multinational corporations (MNCs) based in advanced industrial economies retain power whereas supplier firms in developing countries experience great difficulties in improving their position in the value-chain hierarchy. Recent studies have focused on how globalized product standards and production certification schemes are shaping value chain structures. Some economic geographers have sought to develop more place- and region-sensitive analyses using the GVC framework.
From Global Commodity Chains to Global Value Chains
The term commodity chain originated within world-system theory (see 4.1 Core–Periphery) to ...