English, Article, Journal or magazine article edition: The New Face of Unequal Exchange: Low-Wage Manufacturing, Commodity Chains, and Global Inequality James Heintz

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Bookmark: http://trove.nla.gov.au/version/199812
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The New Face of Unequal Exchange: Low-Wage Manufacturing, Commodity Chains, and Global Inequality
Author
  • James Heintz
Physical Description
  • preprint
Notes
  • The institutional structure of global commodity chains and cross-border production networks has a profound impact on how the benefits of globalized production are distributed. This paper engages with this issue by developing a model that combines the insights of earlier unequal exchange theorists and new work on global commodity chains to clarify the distributive dynamics of the expansion of low-wage manufacturing in the developing world. In this framework, the ability of productivity-led development to raise employment incomes in low-wage manufacturing is constrained and depends on how the benefits of productivity improvements are captured – as lower prices for consumers or higher rents for brandname multinationals. In contrast, consumption-led growth in relatively affluent consumer markets will contribute to income convergence when demand for manufactured consumer imports is sufficiently income elastic. However, in the long-run, labor market, macroeconomic, and environmental constraints will likely compromise this form of export-led employment growth.
  • trade, global commodity chains, multinational corporations, subcontracting, branding, inequality
  • RePEc:uma:periwp:wp59
Language
  • English
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