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The turn from just-in-time to just-in-case globalization in and after times of COVID-19: An essay on the risk re-appraisal of borders and buffers
In this essay, we apply insights from International Economics and Economic Geography to examine how the current COVID-19 crisis may structurally change the international economy. Our key argument is that the current crisis will fundamentally change key economic actors’ risk appetite, triggering a re...
Autores principales: | , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
The Authors. Published by Elsevier Ltd.
2020
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7264036/ https://www.ncbi.nlm.nih.gov/pubmed/34171023 http://dx.doi.org/10.1016/j.ssaho.2020.100034 |
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author | Brakman, Steven Garretsen, Harry van Witteloostuijn, Arjen |
author_facet | Brakman, Steven Garretsen, Harry van Witteloostuijn, Arjen |
author_sort | Brakman, Steven |
collection | PubMed |
description | In this essay, we apply insights from International Economics and Economic Geography to examine how the current COVID-19 crisis may structurally change the international economy. Our key argument is that the current crisis will fundamentally change key economic actors’ risk appetite, triggering a renewed risk assessment that will lead to the comeback of buffers and borders across industries. This partial return to regionalization will involve a form of de-globalization that transforms modern just-in-time management into its just-in-case counterpart, because resilience will be priced and discounted for by enterprises and governments alike. We discuss what such a structural change will imply for the International Business of international value chains. |
format | Online Article Text |
id | pubmed-7264036 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2020 |
publisher | The Authors. Published by Elsevier Ltd. |
record_format | MEDLINE/PubMed |
spelling | pubmed-72640362020-06-02 The turn from just-in-time to just-in-case globalization in and after times of COVID-19: An essay on the risk re-appraisal of borders and buffers Brakman, Steven Garretsen, Harry van Witteloostuijn, Arjen Social Sciences & Humanities Open Article In this essay, we apply insights from International Economics and Economic Geography to examine how the current COVID-19 crisis may structurally change the international economy. Our key argument is that the current crisis will fundamentally change key economic actors’ risk appetite, triggering a renewed risk assessment that will lead to the comeback of buffers and borders across industries. This partial return to regionalization will involve a form of de-globalization that transforms modern just-in-time management into its just-in-case counterpart, because resilience will be priced and discounted for by enterprises and governments alike. We discuss what such a structural change will imply for the International Business of international value chains. The Authors. Published by Elsevier Ltd. 2020 2020-06-02 /pmc/articles/PMC7264036/ /pubmed/34171023 http://dx.doi.org/10.1016/j.ssaho.2020.100034 Text en © 2020 The Authors Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active. |
spellingShingle | Article Brakman, Steven Garretsen, Harry van Witteloostuijn, Arjen The turn from just-in-time to just-in-case globalization in and after times of COVID-19: An essay on the risk re-appraisal of borders and buffers |
title | The turn from just-in-time to just-in-case globalization in and after times of COVID-19: An essay on the risk re-appraisal of borders and buffers |
title_full | The turn from just-in-time to just-in-case globalization in and after times of COVID-19: An essay on the risk re-appraisal of borders and buffers |
title_fullStr | The turn from just-in-time to just-in-case globalization in and after times of COVID-19: An essay on the risk re-appraisal of borders and buffers |
title_full_unstemmed | The turn from just-in-time to just-in-case globalization in and after times of COVID-19: An essay on the risk re-appraisal of borders and buffers |
title_short | The turn from just-in-time to just-in-case globalization in and after times of COVID-19: An essay on the risk re-appraisal of borders and buffers |
title_sort | turn from just-in-time to just-in-case globalization in and after times of covid-19: an essay on the risk re-appraisal of borders and buffers |
topic | Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7264036/ https://www.ncbi.nlm.nih.gov/pubmed/34171023 http://dx.doi.org/10.1016/j.ssaho.2020.100034 |
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