Integrating Finance into Global Production Networks

Coe, Neil M., Lai, Karen P.Y. and Wojcik, Dariusz (2014) ‘Integrating Finance into Global Production Networks‘, Regional Studies, Vol. 48, No. 5, pp. 761-777

27 Pages Posted: 1 May 2013 Last revised: 20 Apr 2016

Neil M. Coe

University of Manchester - School of Environment and Development

Karen P. Y. Lai

National University of Singapore (NUS) - Department of Geography

Dariusz Wojcik

University of Oxford, St. Peter's College

Date Written: April 17, 2013

Abstract

For all its success in ‘globalizing’ regional development, the Global Production Network (GPN) approach has arguably failed to account for the role of finance in the dynamics of the global economy and regional development. This lacuna is significant as finance is arguably even more globalised and networked than production. To address this gap the paper distills the concept of the Global Financial Network (GFN) from financial geography and related scholarship, with advanced business services, world cities, and offshore jurisdictions at the centre. Interactions between the GPN and the GFN are discussed, focusing on the financing and financializing of GPNs and the co-evolution of globalization and financialisation. Integrating finance into GPN entails more than a simple extension of the GPN approach; it would also enrich it conceptually, and enable it methodologically and empirically.

Keywords: Global Production Networks, Global Financial Networks, advanced business services, world cities, offshore jurisdictions, financialization

JEL Classification: F23, F65, O16, R11

Suggested Citation

Coe, Neil M. and Lai, Karen P. Y. and Wojcik, Dariusz, Integrating Finance into Global Production Networks (April 17, 2013). Coe, Neil M., Lai, Karen P.Y. and Wojcik, Dariusz (2014) ‘Integrating Finance into Global Production Networks‘, Regional Studies, Vol. 48, No. 5, pp. 761-777. Available at SSRN: https://ssrn.com/abstract=2252622 or http://dx.doi.org/10.2139/ssrn.2252622

Neil M. Coe

University of Manchester - School of Environment and Development ( email )

Manchester
United Kingdom

Karen P. Y. Lai

National University of Singapore (NUS) - Department of Geography ( email )

1 Arts Link
Singapore, 117570
Singapore

HOME PAGE: http://www.karenlai.wordpress.com

Dariusz Wojcik (Contact Author)

University of Oxford, St. Peter's College ( email )

New Inn Hall Street
Oxford, OX1 2DL
United Kingdom

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