The purpose of this paper is to get more insight about the importance of globalisation and regional integration for global value chains (GVCs) upgrade and economic growth.
Abstract
Purpose
The purpose of this paper is to get more insight about the importance of globalisation and regional integration for global value chains (GVCs) upgrade and economic growth.
Design/methodology/approach
It uses South Korea as an illustrative example of pursuing sustained economic growth via economic globalisation and moving up the value chains. It provides answers to two questions. First, how did South Korea manage to achieve economic growth via moving up the value chains? Second, what are the governmental efforts on globalisation and trade liberalisation that have contributed to this success?
Findings
Among other factors, its success can be seen as a result of a combination of domestic development strategy and policies and its efforts to create a “development-friendly” global and regional circumstance via strengthening the economic ties with main powers, expanding the free trade agreements network, and deepening integration into Factory Asia. It is of South Korea’s interest to push forward the progress of regional integration.
Originality/value
Many countries have successfully got rid of poverty by participating international production sharing, but only few of them have managed to move further and eventually upgrade to be an advance economy. This case study of South Korea gives us more insight about the importance of globalisation and trade liberalisation in supporting GVCs upgrade.
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K.C. Fung, Lurong Chen and Alicia Garcia-Herrero
The purpose of this paper is to investigate what affects trade in parts and components, particularly for Latin America and East Asia.
Abstract
Purpose
The purpose of this paper is to investigate what affects trade in parts and components, particularly for Latin America and East Asia.
Design/methodology/approach
The methodology includes using data analysis as well as regressions
Findings
The main findings show that logistics and infrastructure are among the most important determinants of supply chain trade. For Latin America to participate more in such trade, the region should attract more foreign direct investment, including direct investment from China in transportation, roads and ports as well as infrastructure in general.
Originality/value
This paper is among the first in the literature to conduct regression analysis on trade in parts and components.
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Vietnam has been actively integrated into a multilateral trading system based on its accession to the WTO and the implementation of a series of ASEAN+1 FTAs. Now Vietnam is…
Abstract
Vietnam has been actively integrated into a multilateral trading system based on its accession to the WTO and the implementation of a series of ASEAN+1 FTAs. Now Vietnam is negotiating to be a member of the Trans-Pacific Partnership (TPP) agreement, which is a region-wide FTA in the Asia-Pacific region, and a total of 21 working groups have been negotiating 29 chapters of the TPP. This paper tries to assess major issues of Vietnam’s joining the TPP, and to draw policy implications such as initiatives for Vietnam’s acceleration of its renovation and economic restructuring programs; and domestic measures for facilitating FTA implementation by firms and enhancing the country's implementation capacity.
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This study examines how informal business networks achieve marketing goals in socially uncertain contexts. Drawing from multiple historical sources, Shangbangs, a type of business…
Abstract
Purpose
This study examines how informal business networks achieve marketing goals in socially uncertain contexts. Drawing from multiple historical sources, Shangbangs, a type of business network that thrived in pre-1949 China, are analyzed.
Design/methodology/approach
The Critical Historical Research Method (CHRM) undergirds a study of Shangbangs’ historicity (i.e. their socio-historically embedded multiplicity, including organizational forms, activities and connotations.
Findings
As informal regional, professional, project-based, special-product-based or mixed marketing networks, Shangbangs relied on “flexible specialization” and coupled multiple business needs to market goods and services, business organizations, specific social values and, when necessary, to debrand business rivals.
Research limitations/implications
This analysis extends theories about marketing networks by probing their subtypes, diverse marketing activities, multipronged channels and relationship building with social entities (including underground societies, business associations and guilds) in response to pre-1949 China’s market uncertainties. Substantiating an alternative approach to “flexible specialization” and marketing innovations within the pre-1949 Chinese economy shows how a parallel theoretical framework can complement western-based marketing theories.
Originality/value
This first comprehensive analysis of Shangbangs, an innovative historical Chinese marketing network outside the conventional market-corporate dichotomy, can inform theory building for marketing strategy-making and management conditioned by social contexts.
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K.C. Fung, Hsiang-Chih Hwang, Jesús Seade and Rocky Tung
In this paper, the authors aim to examine trade in parts and components of Mexico, Chile and Brazil, focusing in particular on trade of television parts (SITC 7711) and…
Abstract
Purpose
In this paper, the authors aim to examine trade in parts and components of Mexico, Chile and Brazil, focusing in particular on trade of television parts (SITC 7711) and semiconductors (SITC 7763) with China and South Korea. They also study the impact of foreign direct investment (FDI) on supply chain activities.
Design/methodology/approach
The authors use sub-categories of trade data to look at export and import of parts and components involving China, South Korea, Mexico, Brazil and Chile. They also use two-stage regressions to examine the impact of FDI on supply chain trade.
Findings
The authors found preliminary evidence that there may be early signs of an emerging Trans-Pacific production network between these three Latin American economies and the China-based and South Korea-based East Asian supply chains. The authors argue that this budding network will improve economic welfare. To deepen the Trans-Pacific supply chain, it would be desirable for China and South Korea to consider joining the Trans-Pacific Partnership (TPP). In addition, FDI enhances trade in components.
Practical implications
To deepen the Trans-Pacific supply chain, it would be desirable for China and South Korea to consider joining the TPP. In addition, it would be beneficial for these Latin American economies to encourage more direct investment in infrastructure and in manufacturing facilities from Asia.
Originality/value
This paper is one of the earliest research papers examining the Trans-Pacific supply chain, linking China, South Korea with Mexico, Brazil and Chile. The authors also study the impact of FDI on supply chain activities.