The conceptual framework

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Chapter 2 in The Contest for Value in Global Value Chains, 2021, pp 14-21 from Edward Elgar Publishing

Abstract: Chapter 2 presents the theoretical foundations of the approach we develop in the book to the analyses of value distribution in GVCs and basic principles guiding the analyses. We introduce the concepts of value creation and value appropriation and develop the theoretical rationale for the employment of value creation as the benchmark for the evaluation of value appropriation. We examine causes of distorted value distribution, that is, one in which value appropriation is misaligned with value creation, and identify the characteristics that causes these distortions. We compare distribution distortion in global supply chains with those in vertically integrated production and in domestic supply chains, and illustrate how the complexity associated with the separation of the production across countries increase market failures and challenge the approaches proposed to amend them.

Keywords: Business and Management; Economics and Finance (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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