TY - JOUR
T1 - Local consequences of global production processes
AU - Brakman, Steven
AU - van Marrewijk, Charles
AU - Partridge, Mark
N1 - Publisher Copyright:
© 2015 Wiley Periodicals, Inc.
PY - 2015/1/1
Y1 - 2015/1/1
N2 - The financial crisis of 2008 not only started the Great Recession, but also set off fundamental changes in production processes, government fiscal practices, and housing. Technological progress has enabled firms to outsource and offshore parts of the production process, leading to a fragmentation of global value chains. We briefly discuss this "second unbundling," global versus regional fragmentation and some of the consequences that became visible during the Great Recession's trade collapse. We discuss the consequences for some local clusters, both from a theoretical and empirical perspective, and some consequences for government fiscal health and housing from an American perspective.
AB - The financial crisis of 2008 not only started the Great Recession, but also set off fundamental changes in production processes, government fiscal practices, and housing. Technological progress has enabled firms to outsource and offshore parts of the production process, leading to a fragmentation of global value chains. We briefly discuss this "second unbundling," global versus regional fragmentation and some of the consequences that became visible during the Great Recession's trade collapse. We discuss the consequences for some local clusters, both from a theoretical and empirical perspective, and some consequences for government fiscal health and housing from an American perspective.
UR - http://www.scopus.com/inward/record.url?scp=84920882310&partnerID=8YFLogxK
U2 - 10.1111/jors.12179
DO - 10.1111/jors.12179
M3 - Article
AN - SCOPUS:84920882310
SN - 0022-4146
VL - 55
SP - 1
EP - 9
JO - Journal of Regional Science
JF - Journal of Regional Science
IS - 1
ER -