Financialization and Social Contest in Global Value Chains by Florence Palpacuer

Abstract

This seminar addresses recent changes in governance patterns that significantly altered power relations and wealth distribution in global value chains.

First, it emphasizes the rise of a financial sphere made up of institutional investors and executives of large corporations at the top of GVCs, and discusses consequences for sourcing relations between ‘financialized’ lead firms and their suppliers.

Second, by linking recent governance debates at the level of the firm to issues of governance of the whole chain, it identifies three distinct normative views (shareholder, stakeholder and
institutional) of the ways in which firms and GVCs can be made to improve social welfare. Beyond the shareholder and stakeholder views, a call is made for strengthening an institutional view of GVC governance.

Further info:

kingdon@remove-this.iss.nl