Supply chain contagion and the role of industrial policy
Andrea Coveri (),
Claudio Cozza (),
Leopoldo Nascia () and
Antonello Zanfei ()
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Andrea Coveri: University of Urbino
Leopoldo Nascia: ISTAT
Antonello Zanfei: University of Urbino
Economia e Politica Industriale: Journal of Industrial and Business Economics, 2020, vol. 47, issue 3, No 8, 467-482
Abstract The COVID-19 pandemic triggered a major disruption in global value chains (GVCs) that pushed the global economy into a recession that promises to be worse than the 2008 crisis. This article illustrates the mechanisms through which the COVID-19 pandemic affected GVCs in the context of a changing configuration of the global economy. In particular, it is argued that GVCs became the main transmission channels of “economic contagion”. Finally, we posit that the pandemic provides an opportunity to revive the role of industrial policy as to govern the landslides of a world economy constantly pressured by globalization and deglobalization forces.
Keywords: COVID-19; Pandemic; Contagion; Global value chains; Industrial policy (search for similar items in EconPapers)
JEL-codes: F12 F60 O25 (search for similar items in EconPapers)
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Economia e Politica Industriale: Journal of Industrial and Business Economics is currently edited by C. Cambini, M.G. Colombo, L. Piscitello, L. Rondi and A. Zanfei
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