Post-Crisis Regionalisation of Global Value Chains in Strategies of Transnational Companies

IF 0.5 Q3 AREA STUDIES
E. Smirnov
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引用次数: 0

Abstract

The current global crisis led to the transformation of global value chains (GVC) in strategies of transnational companies (TNCs). The present study aims to establish a causal relationship between the volatility of the world economy and regionalisation of global value chains. Based on historical analysis and a systemic-functional approach, scattered information about the impact of global value chains on the development of TNC strategies was integrated. Thus, various aspects of TNC activities (their participation in international trade, international capital flows, etc.) were analysed together in order to identify the consequences of regionalisation for the strategic development of such companies. The study revealed that the established international production system carries many risks, which are exacerbated by continuing protectionism in international trade. Under the influence of digitalisation, regionalisation of value chains and partial reshoring of production facilities are the key directions for further development of GVCs. Given the rapid cross-border transmission of exogenous shocks, the stability and sustainability of global value chains will determine their development; however, there is no evidence whether GVCs will lengthen or shorten. The high cost of the complex reconfiguration of GVCs towards regionalisation will lead to only minor changes in their architecture. The redesign will affect only some aspects of activities, in particular, the organisation of work with global suppliers. While the weak integration of developing countries into GVCs will remain, the barriers to internationalisation will be reduced under the influence of digitalisation, creating new opportunities for the incorporation of small business into the international production system. In general, global value chains will still be considered a reliable source to reduce the risks of global operating activities of TNCs. The research results can be used for further theoretical and methodological development of internationalisation strategies.
危机后跨国公司战略中的全球价值链区域化
当前的全球经济危机促使跨国公司在战略上转变全球价值链。本研究旨在建立世界经济波动与全球价值链区域化之间的因果关系。基于历史分析和系统功能方法,整合了关于全球价值链对跨国公司战略发展影响的分散信息。因此,对跨国公司活动的各个方面(它们参与国际贸易、国际资本流动等)进行了综合分析,以便确定区域化对这些公司战略发展的影响。研究表明,现有的国际生产体系存在许多风险,而国际贸易保护主义的持续加剧了这些风险。在数字化的影响下,价值链区域化和生产设施部分回流是全球价值链进一步发展的关键方向。鉴于外生冲击的快速跨境传播,全球价值链的稳定性和可持续性将决定其发展;然而,没有证据表明全球价值链是否会延长或缩短。全球价值链向区域化方向进行复杂重新配置的高成本只会导致其结构发生微小变化。重新设计将只影响活动的某些方面,特别是与全球供应商的工作组织。虽然发展中国家融入全球价值链的程度仍将较弱,但在数字化的影响下,国际化的障碍将减少,为小企业融入国际生产体系创造新的机会。总的来说,全球价值链仍将被视为减少跨国公司全球经营活动风险的可靠来源。研究结果可为国际化战略的进一步理论和方法发展提供参考。
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来源期刊
CiteScore
1.80
自引率
20.00%
发文量
23
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