The instability of the world financial system, starkly revealed in the recent debacle, is not the only problem it poses. Its secularly increasing dominance over the real economy is in itself a phenomenon that needs examining. The article traces the source of this increasing dominance not just to...

The global value chain (GVC) governance framework by Gereffi et al (2005) posits that ‘governance', i.e. the character of linkages in business networks, tends to vary in specific ways (market, modular, relational, captive, hierarchy) depending on transactional characteristics (complexity,...

This chapter draws on three branches of management studies – corporate strategy, technology strategy, and institutional strategy – in order to develop a framework aimed at analyzing and predicting the nature and structure of GVCs. First, corporate strategy informs how firms shape GVC...