Industrial Policy and Emerging Technologies: A Global Value Chain Perspective

Gary Gereffi
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Gary Gereffi: Duke University

Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: This featured article is authored by Gary Gereffi, one of the architects of the Global Value Chains (GVC) framework for understanding global trade and a major contributor to the body of scholarship on international trade.

The article is part of a series of contributions by global scholars to be published in IER leading up to the 50th anniversary of KIET's founding.

In contrast to the relatively fluid process of trade and FDI growth at the height of the globalization era (from the 1980s to mid-2000s), the period from the financial crisis of 2008 to the present is characterized more by disruption and geopolitical fragmentation. The bipolar international order of the Cold War (1950s-1980s) followed a short-lived period of US hegemony in the 1990s and early 2000s; the present environment is a bitterly-contested multipolar global regime that presents MNEs with major uncertainties. This paper describes how this new environment is shaping GVCs today, and the implications carried for firms and governments alike.

Keywords: global value chains; GVCs; GVC governance; industrial policy; value-added trade; global trade; weaponized interdependence; economic security (search for similar items in EconPapers)
JEL-codes: F13 F15 F23 F51 F52 F60 (search for similar items in EconPapers)
Pages: 15
Date: 2025-10-31
New Economics Papers: this item is included in nep-his and nep-tid
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Published in KIET Industrial Economic Review Vol. 30, No. 5

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Persistent link: https://EconPapers.repec.org/RePEc:ris:kieter:021803

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