The Global Value Chain (GVC) Initiative at Duke’s Center for Globalization, Governance and Competitiveness is at the forefront of researching areas of opportunity and risk in an ever-more interconnected global economy. Led by Professor of Sociology and Director of the Center, Gary Gerreffi, the GVC Initiative publishes original research analyzing sector-specific economies to understand how value is created through the industrial process.
A value chain differs from a conventional supply chain by focusing not just on traditional inputs and outputs, but looking at where, how and by whom value is added as a product goes from development to production. While some products may be confined by geography, the vast majority are inextricably connected to other states, countries, or regions – creating complex networks that require a more sophisticated framework of analysis. The GVC Initiative uses GVC mapping and analysis to uncover areas for value creation and better inform policies for growth and development. From exposing weak points in Russia’s wheat value chain to delving into the Tourism Value Chains in East Africa, the initiative conducts GVC research with real life policy implications.
Whether it be helping countries identify opportunities to enter new GVCs or mitigating potential risks, GVC analysis is a useful tool for policymakers who need to understand economic networks and the interactions of interrelated products and services. While much of the GVC work focuses on developing countries, uncovering opportunities for growth and recommending targeted action, the North Carolina in the Global Economy website provides an example of GVCs in our own state. Seven specific industries are featured with interactive maps and charts to understand how North Carolina ties into the global economy.