The Governance of Global Value Chains
SCM Research
MAY 9, 2014
Gereffi, Humphrey and Sturgeon (2005) take a transaction-based political economy perspective to explain The Governance of Global Value Chains. To do so, three variables (complexity of transactions, ability to codify transactions, capabilities in the supply base) are identified, and combinations of the values of these variables constitute the structure of global value chains, leading to five types of governance (market, modular, relational, captive, hierarchy).
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