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

Khorana, Sangeeta and Escaith, Hubert and Ali, Salamat and Kumari, Sushma and Do, Quynh (2022) The changing contours of global value chains post-COVID:Evidence from the Commonwealth. Journal of Business Research, 153. pp. 75-86. ISSN 0148-2963

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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.

Item Type:
Journal Article
Journal or Publication Title:
Journal of Business Research
Additional Information:
This is the author’s version of a work that was accepted for publication in Journal of Business Research. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Physics Reports, 153, 2022 DOI: 10.1016/j.jbusres.2022.07.044
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/1400/1406
Subjects:
ID Code:
176521
Deposited By:
Deposited On:
23 Sep 2022 14:55
Refereed?:
Yes
Published?:
Published
Last Modified:
22 Nov 2022 11:47