Integrating Finance into Global Production Networks

• Published in: Regional studies Vol. 48; no. 5; pp. 761 - 777
• Main Authors: Coe, Neil M., Lai, Karen P. Y., Wójcik, Dariusz
• Format: Journal Article
• Language: English
• Published: Cambridge Routledge 04-05-2014; Cambridge University Press; Taylor & Francis Ltd
• Subjects: Advanced business services; Area planning & development; Attention; Bgi / Prodig; Business; Ciudades del mundo; Erweiterte Wirtschaftsdienstleistungen; Finance; Financial geography; Financialización; Financialization; Financiarisation; Financing; Finanzialisierung; Geography; Global economy; Global financial networks; Global production networks; Globale Finanznetzwerke; Globale Produktionsnetzwerke; Globalization; Grandes villes du monde; Human geography; Integration; International finance; Jurisdicciones extraterritoriales; Jurisdiction; Jurisdictions offshore; Networks; Offshore jurisdictions; Offshore-Gerichtsbarkeiten; Political and economic geography; Production; Redes de producción global; Redes financieras globales; Regional development; Réseaux de production mondiaux; Réseaux financiers mondiaux; Services commerciaux de pointe; Servicios comerciales avanzados; Studies; Weltstädte; World cities; World economy; 全球城市; 全球生产网络; 全球金融网络; 离岸管辖权; 金融化; 高阶商业服务; Economy; Finance; Financing; Globalization; World city; Regional development; Offshore jurisdiction; Financialization; Political economy; Production network; Financial services; Firm strategy
• ISSN: 0034-3404; 1360-0591
• DOI: 10.1080/00343404.2014.886772

Coe N. M., Lai K. P. Y. and Wójcik D. Integrating finance into global production networks, Regional Studies. While successful in its aim of 'globalizing' regional development, the global production network (GPN) approach has thus far paid less attention to the role of finance in the dynamics of the global economy and regional development. This lacuna is significant as finance is arguably even more globalized and networked than production. To address this gap the paper distils 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 core. Interactions between the GPN and the GFN are discussed, focusing on the financing and financializing of GPNs and the co-evolution of globalization and financialization. Integrating finance into GPN research entails more than a simple extension of the approach; it would also enrich it conceptually, and enable it methodologically and empirically.