Effects of the Crisis on the Automotive Industry in Developing Countries : A Global Value Chain Perspective
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This paper applies global value chain
analysis to study recent trends in the global automotive
industry. The authors pay special attention to the effects
of the recent economic crisis on the industry in developing
countries. The principal finding is that the crisis has
accelerated pre-crisis trends toward greater importance of
the industry in the South. More rapid growth of car
ownership is the impetus, but the co-location and close
interaction of suppliers and lead firms in this industry is
an important catalyst. Opportunities to move up in the value
chain for suppliers in emerging economies have proliferated
and are likely to become even stronger now that an
increasing number of new models are developed specifically
for markets in developing countries. The co-location of
assembly and parts plants in national and regional
production systems has largely confined the impact of sales
declines during the crisis to each country/region. In
addition, the different development strategies followed by
countries like Mexico, China, and India are slowly
converging as their industries gain size and independence.
Palabras clave
ACCOUNTING, AFTERMARKET, AGGREGATE DEMAND, AGRICULTURE, BAILOUT, BAILOUTS, BANKING SECTOR, BANKRUPTCIES, BANKRUPTCY, BENCHMARKING, BID, BRAND, BRAND IMAGE, BRAND NAME, BRAND NAMES, COMPANY, COMPARATIVE ADVANTAGE, COMPARATIVE ADVANTAGES, COMPETITORS, CONSUMERS, CORPORATION, CREDIT MARKETS, CRISES, DEBT, DEBTOR, DECISION MAKING, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPMENT STRATEGIES, DIVISION OF LABOUR, DOMESTIC MARKET, DOWNSIZING, DRIVERS, DURABLE, ECONOMIC DEVELOPMENT, ECONOMIC GEOGRAPHY, ECONOMICS, ECONOMIES OF SCALE, EMERGING ECONOMIES, EMERGING MARKET, EMERGING MARKET COUNTRIES, EMERGING MARKETS, EMPLOYMENT, ENTREPRENEURSHIP, EQUIPMENT, EQUITY STAKES, ESTABLISHED BRANDS, EXPANSION, EXPORTER, EXPORTERS, EXPORTS, FINANCIAL CRISIS, FINANCIAL INSTITUTIONS, FIRMS, FIXED COSTS, FOREIGN DIRECT INVESTMENT, FOREIGN INVESTMENT, FOREIGN MARKETS, FOREIGN PARTNER, FREE TRADE, GLOBAL MARKET, GLOBAL MARKETS, GLOBAL TRADE, GLOBALIZATION, GOVERNMENT INTERVENTION, GOVERNMENT INTERVENTIONS, GOVERNMENT OWNERSHIP, GOVERNMENT POLICY, HOME MARKETS, HUMAN RESOURCES, IMPORT QUOTAS, INCOME, INCOME GROWTH, INCOME LEVELS, INNOVATION, INTELLECTUAL PROPERTY, INTERMEDIATE GOODS, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INTERNATIONAL TRADE, INVENTORIES, INVESTMENT RISKS, JOB CREATION, JOB LOSS, JOINT VENTURE, JOINT VENTURE PARTNER, JOINT VENTURE PARTNERS, JOINT VENTURES, LABOR COSTS, LABOR MARKET, LABOR MARKETS, LABOR STATISTICS, LABOR UNIONS, LACK OF CREDIT, LAYOFFS, LDCS, LEASING, LESS DEVELOPED COUNTRIES, LIBERALIZATION OF TRADE, LIQUIDATION, LOAN, LOAN GUARANTEES, LOCAL MARKET, LOCAL MARKETS, MANUFACTURER, MANUFACTURERS, MARKET DATA, MARKET POTENTIAL, MARKET PRICES, MARKET SEGMENTS, MARKET SHARE, MARKET SHARES, MARKET SIZE, MARKETING, MASS MARKET, MATURE MARKETS, MERGERS, MNC, MNE, MOTIVATION, MULTINATIONAL, MULTINATIONALS, MULTIPLIER EFFECTS, NEW PRODUCT DEVELOPMENT, OPERATIONAL INDEPENDENCE, ORGANIZATIONAL STRUCTURES, PARTY, PENSION, PORTFOLIO, PRICE DECLINES, PRODUCT DIFFERENTIATION, PRODUCT QUALITY, PRODUCTION COSTS, PRODUCTION PROCESS, PRODUCTIVITY, PROTECTIONISM, PURCHASING, PURCHASING POWER, RECESSION, REGIONAL UNEMPLOYMENT, REPAYMENT, RETURN, SAFETY, SAFETY STANDARDS, SALE, SALES, SKILLED LABOR, STRUCTURAL CHANGE, SUBSTITUTE, SUPPLIER, SUPPLIERS, SUPPLY CHAIN, SUPPLY CHAINS, SUPPLY CONTRACTS, SURPLUS, TAKEOVER, TOP MANAGEMENT, TRADE BLOCS, TRADE DEFICIT, TRADING, TRADING SYSTEM, UNEMPLOYMENT, UNEMPLOYMENT RATES, VALUE ADDED, VARIABLE COSTS, VEHICLE OWNERSHIP, WORKING CAPITAL, WORKING HOURS, WORLD MARKET, WORLD MARKETS, WORLD TRADE ORGANIZATION, WTO