2004/01/01 by Asad Sayeed, Radhika Balakrishnan · 1 citation
Economics, Econometrics and Finance · #Global Financial Crisis and Policies #Economic Theory and Policy #Economic theories and models
paper · doi:10.1057/9780230523968_5
openalex publication_date 2004/01/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/31
The post cold-war global economy is characterized by the twin phenomena of disintegration of the production process and the integration of the world economy through trade (Feenstra, 1998). Although the phenomenon of disintegration of the production process has been observed over the last three decades, it has accelerated with trade and financial sector liberalization in the post cold-war world order. In this context, flexible production systems with vertical and at times horizontal disintegration are seen as increasingly profitable. This is especially true with regard to out-sourcing of production to developing countries. Korzeniewicz and Martin (1994) conceptualize this phenomenon as characterized by a new global division of labor. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.