1945

Mapping global value chains

World trade and production are increasingly structured around what are known as “global value chains” (GVCs). A value chain can be defined simply as the “full range of activities that firms and workers do to bring a product from its conception to its end use and beyond” (Gereffi and Fernandez-Stark, 2011). Typically, a value chain includes the following activities: design, production, marketing, distribution and support to the final consumer. These activities can be performed within the same firm or divided among different firms. The fact that they are increasingly spread over several countries explains why the value chain is regarded as “global”.

Related Subject(s): Economic and Social Development
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