The changing contours of global value chains post-COVID: Evidence from the Commonwealth

Sangeeta Khorana, Hubert Escaith, Salamat Ali, Sushma Kumari and Quynh Do

Journal of Business Research, 2022, vol. 153, issue C, 75-86

Abstract: The COVID-19 pandemic emphasised the global value chains (GVCs) debate by focussing on whether gains from GVC participation outweigh firms associated risks of demand and supply shocks amid rising protectionism. This paper bridges the gap between the international trade and management literature by examining the impact of COVID-19 on Commonwealth countries, an area that has received scant attention in academic literature. Using the Eora database, we simulate scenarios to examine Commonwealth countries’ participation in GVCs post-COVID. We draw on the transaction cost economics (TCE) theory to develop a framework that investigates whether growing protectionism, associated with reshoring, decoupling and nearshoring, could potentially affect the constellation and participation of Commonwealth countries in GVCs post-COVID. Results show that trade protectionism is likely to impact the supply chains and lead to GVC reconfiguration, which could offer opportunities for the Commonwealth countries and firms to potentially gain following the geographical redistribution of suppliers.

Keywords: COVID-19; Commonwealth; Reshoring; Decoupling; Global value chains; Protectionism (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:153:y:2022:i:c:p:75-86

DOI: 10.1016/j.jbusres.2022.07.044

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