Geografie světové ekonomiky

 

HISTORICAL PERSPECTIVE ON THE DEVELOPMENT OF THE WORLD ECONOMY

• Merchant capitalism, bimodal pattern of trade under merchant capitalism, mercantilism and territorial expansion
• Basic arguments of dependency theory, world-systems theory, core, periphery and semi-periphery of the world economy
• Globalization in the second half of the 19^th century (up to WWI) and how it differed from the contemporary globalization
• Economic globalization after WWII, the Bretton Woods system and its institutions
• The old (pre-WWI) global division of labor, the new (post-WWII) global division of labor.

 

Globalization debate

• The basic argument of hyperglobalists, skeptics and tranformationalists
• Differences between internationalization and globalization, localizing a regionalizing processes
• Six key factors of globalization.

 

NETWORK APPROACH TO UNDERSTANDING THE WORLD ECONOMY

• Production circuits (chains) and production networks
• Co-ordination and regulation of production networks
• Five actor-centered networks in the global economy – five major actors of the global economy
• Producer-driven and buyer-driven production networks
• Governance, spatiality and territorial embeddedness of production networks
• Four basic dimensions of global production networks (input–output structure, territoriality, governance structure, institutional framework).

 

GLOBAL ECONOMIC TRENDS

Global trends in production of goods and services

• Trends in manufacturing production (differences between older industrialized countries, ‘transitional’ economies of Central and Eastern Europe, developing market economies)

Global trends in trade and FDI

• How global increase in GDP (production), trade and FDI differed in the past several decades (which one was growing fastest, slowest),
• Geographical origins and destinations of FDI – comparison of developed and developing economies and how their position changed in the past several decades
• World regions with highest/lowest FDI stocks/flows, major FDI trends in the developed and developing countries, sectoral tendencies in FDI.
• ‘First and second tier’ newly industrialized economies of east and Southeast Asia (which countries are involved).
• The approximate percentage share of emerging (developing) countries of the global GDP and of the global manufacturing production

 

TECHNOLOGY AND ECONOMIC GLOBALIZATION

• Neo-Schumpeterian perspective on the role of technology in economic development
• Four types of technological change (innovation) based on their impact and their characteristics
• Information technology
• Major developments in transportation and communications technologies

 

Kondratiev cycles:

• Length, number, core technologies associated with each Kondratiev cycle
• Technological leaders (countries) during each cycle.

Product life cycle:

• Different requirements at different stages for technology, capital intensity, critical production factors and optimal location or production.

Historical stages in the development of the production process:

• Manufacture, machinofacture, Taylorism, Fordism, after-Fordism
• Basic characteristics of Fordism, flexible specialization, and Japanese-inspired production approaches.

Geographies of innovation:

• National systems of innovation
• Codified knowledge and tacit knowledge
• Innovative milieu, localized knowledge clusters, local buzz and global pipelines.

 

TRANSNATIONAL CORPORATIONS

• Definition of TNCs
• Three phases in the development of TNC activities of U.S.-based TNCs and types of FDI that typified these different phases

Explanations of transnational economic activities:

• Internationalization of the circuits of capital and the order in which different circuits of capital were internationalized
• Hymer’s explanation of transnational activity
• Vernon’s approach (number of stages and know the basic characterization of each stage)
• Dunning’s eclectic theory of international production
• Sequential model of TNC development.

Organization of TNCs:

• Factors affecting the organization of TNCs
• Four commonly used organizational structures (product division, global product division, global geographic division, global matrix)
• Four major ideal types of TNCs (multinational, international, global, integrated network).

Three types of FDI:

• Market seeking, resource/asset seeking, efficiency seeking and how they differ.

• Advantages and disadvantages of globally integrated strategies
• Geographical embeddedness of TNCs
• Basic differences among US, German and Japanese TNCs
• East Asian business organizations:
  • keiretsu – horizontal and vertical (basic characterization and differences)
  • South Korean chaebols

 

TRANSNATIONAL PRODUCTION NETWORKS

Characteristics (functions) and locational needs of:

Control functions: corporate and regional headquarters.

R&D:

• Three major phases of R&D in the production process and their different locational requirements
• locational requirements of basic research, applied research, development work
• demand reasons and supply-oriented reasons for R&D investments abroad by TNCs
• three major categories of R&D facilities established by TNCs in foreign locations and how they differ (support laboratory, locally integrated R&D laboratory, international interdependent R&D laboratory).

Production units: 

• Differences between: (a) globally concentrated production, (b) host-market production, (c) product specialization for a global or regional market, (d) transnational vertically integrated production.
• corporate restructuring: reasons, spatial outcomes
• Basic differences between horizontal, vertical and diagonal integration.

Marketing and sales operations

 

TNCs’ external networks of relationships

• Outsourcing (subcontracting)
  • Commercial and industrial outsourcing
  • Types of industrial outsourcing
  • Costs and benefits of outsourcing to the participants
  • International outsourcing (differences between direct and indirect international outsourcing)
• 5 different types of transnational production network coordination: market, hierarchical, captive, relational and modular production networks – basic differences
• International strategic alliances + types and advantages to participants

 

STATES AND GLOBALIZATION

State, nation, nation-state, states as containers of distinctive cultures, practices and institutions,

Varieties of capitalism: know also examples of countries in each type

• Neo-liberal market capitalism
• Social-market capitalism
• Developmental capitalism
• Authoritarian capitalism

• Factors affecting how states will regulate economic activities: fiscal and monetary policies (know the difference between the two)

Trade policies:

• Tariffs and non-tariff barriers (know the difference),
• Export policies,
• FDI policies,
• Industry policies
• Know the differences and examples of what kind of tools fall under which policy (for example, employment and labor policy is part of the industry policy)

States as competitors

• Porter’s ‘diamond’ (know the four major determinants and two other components of nation’s competitiveness).

Regional economic blocs:

• Preferential trading arrangements,
• Four waves of regional economic agreements,
• Approximate number or regional trade agreements in force in the world today
• Types of regional economic integration: free trade area, customs union, common market, economic union – differences between different types.
• European Union (know the Western European countries that are not members of the EU – Switzerland and Norway), when it was originally established, NAFTA, AFTA, APEC – what types of regional economic arrangements these are
• Regulatory, or market-rational, state, developmental, or plan-rational state + examples of countries

The newly industrializing economies:

• Three basic types of industrial strategy: export of indigenous commodities, import substitution (know the correct idealized sequence of import substitution stages), export-oriented industrialization,
• Export processing zones
• The comparison of South Korea, Taiwan, Singapore, China (special economic zones) and Mexico (maquiladoras).

 

RELATIONSHIPS BETWEEN STATES AND TRANSNATIONAL CORPORATIONS

• Different fundamental goals of states and TNCs
• Regulatory arbitrage
• Bargaining processes between TNCs and states, dangers of a TNC strategy of transnational integration for states
• Transfer pricing by TNCs
• Active and obligated embeddedness
• Relative bargaining powers of TNCs and states
• Capturing value within GPNs
  • value creation, value enhancement, value capture
  • the importance of power in GPNs

 

Effects of TNCs on host economies:

• Three most important factors that determine effects of FDI (TNCs) on host economies
  • mode of entry, function of the unit, operational attributes of the unit
• Effects on capital and finance
• Effects on technology, trade effects,
• Effects of TNCs on domestic firms
  • local integration of foreign-owned enterprises – backward and forward supply linkages
  • negative and positive effects of FDI on host economies
  • FDI effects on job creation – direct employment effects what they depend on
• Indirect employment effects of TNCs in host economies and what they depend on:
  • macro-economic effects, narrow and broad horizontal effects, vertical effects; backward  and forward
• Economic upgrading strategies in GPNs:
  • process, product, functional, inter-sectoral, social upgrading
• Strategic coupling

 

TNCs and home economies

• Potential direct and indirect employment effects on home country employment (production-displacement effect, export-stimulus effect, home office effect, supporting firm effect).

 

WINNING AND LOSING IN THE WORLD ECONOMY

• Globalization and uneven development
• Convergence or divergence between more and less developed countries?
• Archipelago economy
• Global poverty
• Rural poverty in the developing world: the most affected world regions
• Inequalities within countries

• Income inequalities within developed countries: trends in America and other developed economies
• Income inequalities within developing countries
• Unemployment in developed countries
• Explanation of changes
• Positive and negative effects of globalization
• Policy responses to globalization in the older industrialized countries
• Developing countries
  • Inequality
  • Changes in employment structure
  • Over-dependence on a narrow economic base
• Winners and losers in the global economy in terms of income

 

CLOTHING INDUSTRIES

Basic features

• buyer-driven production network
• the idealized sequence of development
• the geography of production and basic geographic trends
• the geography of trade
• Patterns of demand, importance of retailing chains, traditional and lean retailing-apparel supplier relations.

Production costs

• labor costs and variations in labor costs
• characterization of the labor force

Technological change

• differences between textiles and garments industries

The role of the state

• differences between developed and developing economies 
• the multi-fiber arrangement: reasons, importance for the changing geography of production

Corporate strategies

• globalization/internationalization of clothing industries
• differences between textiles and garments industries
• importance of international subcontracting and licensing
• ‘factory-less’ firms (Nike, for example)

Regional production networks

• Asian – triangular manufacturing
• United States-focused regional production networks in the Americas
• US textiles and garments industries – collapse and reasons for survival in the US.

 

AUTOMOBILE INDUSTRY

Basic features

• Producer-driven production network
• global production trends
• the geography of production – and major changes since 1960
• the geography of trade
• The 2008-2009 global automotive crisis and its uneven geographic effects
• Three types of areas of automotive production growth outside the automotive industry core:
  • protected automotive markets
  • integrated peripheral markets
  • emerging regional markets.

Demand

• Basic features, geographic differences, new and replacement demand
• Differences between mass production and lean production
• Changes in supplier relationships

The role of the state in the automobile industry

• Differences between Western Europe, Japan and the United States
• state policies to develop the automobile industry in emerging economies
• the role of the state in the development of the South Korean automobile industry

Corporate strategies

• Acquisitions, mergers and alliances
• world car strategy
• niche market strategy.

Regionalizing production networks

• Europe + major trends in FDI
• North America + major trends in FDI
• East Asia + major trends in FDI

 

ADVANCED BUSINESS SERVICES (ABSs)

Basic features:

• The importance of ABSs for the economy
• what is included under ABSs
• The sequence of the stages of development of the banking system
• Different types of financial institutions
  • commercial bank
  • investment bank
  • credit card company
  • insurance company
  • accounting firm.
• Different types of professional business firms
  • legal firm
  • business consultancy firm
  • advertising agency
  • headhunting firm.

The dynamics of the market for advanced business services

• Four major elements of a sharp intensification of competition and a rapid transformation of markets:
  • market saturation
  • disintermediation
  • deregulation of financial markets
  • internationalization of financial markets

Technological innovation and advanced business services

• The three key technologies that have transformed the financial services industries
  • computers
  • microprocessors
  • satellites and fiber-optic cables
• Effects of information technologies on financial services
• Securitization of financial transactions

Product innovation

• Derivatives: futures, swaps and options

The role of the state in financial services

• Regulation and deregulation
• Sovereign wealth funds

 

• Corporate strategies in financial services
• Globalization of the financial system
• Transnationalization of legal services
• Executive recruitment

Geographical structure of financial services activities

• The global network of financial centers
• Offshore financial centers
• Decentralization of the ‘back office’ functions

  

Doporučená literatura:
viz sylaby dílčích předmětů doporučených k absolvování

 

Zpět na rozcestník

 

HISTORICAL PERSPECTIVE ON THE DEVELOPMENT OF THE WORLD ECONOMY

·       Merchant capitalism, bimodal pattern of trade under merchant capitalism, mercantilism and territorial expansion

·       Basic arguments of dependency theory, world-systems theory, core, periphery and semi-periphery of the world economy

·       Globalization in the second half of the 19^th century (up to WWI) and how it differed from the contemporary globalization

·       Economic globalization after WWII, the Bretton Woods system and its institutions

·       The old (pre-WWI) global division of labor, the new (post-WWII) global division of labor.

 

Globalization debate

·       The basic argument of hyperglobalists, skeptics and tranformationalists

·       Differences between internationalization and globalization, localizing a regionalizing processes

·       Six key factors of globalization.

 

NETWORK APPROACH TO UNDERSTANDING THE WORLD ECONOMY

·       Production circuits (chains) and production networks

·       Co-ordination and regulation of production networks

·       Five actor-centered networks in the global economy – five major actors of the global economy

·       Producer-driven and buyer-driven production networks

·       Governance, spatiality and territorial embeddedness of production networks

·       Four basic dimensions of global production networks (input–output structure, territoriality, governance structure, institutional framework).

 

GLOBAL ECONOMIC TRENDS

Global trends in production of goods and services

·       Trends in manufacturing production (differences between older industrialized countries, ‘transitional’ economies of Central and Eastern Europe, developing market economies)

Global trends in trade and FDI

·       How global increase in GDP (production), trade and FDI differed in the past several decades (which one was growing fastest, slowest),

·       Geographical origins and destinations of FDI – comparison of developed and developing economies and how their position changed in the past several decades

·       World regions with highest/lowest FDI stocks/flows, major FDI trends in the developed and developing countries, sectoral tendencies in FDI.

·       ‘First and second tier’ newly industrialized economies of east and Southeast Asia (which countries are involved).

·       The approximate percentage share of emerging (developing) countries of the global GDP and of the global manufacturing production

 

TECHNOLOGY AND ECONOMIC GLOBALIZATION

·       Neo-Schumpeterian perspective on the role of technology in economic development

·       Four types of technological change (innovation) based on their impact and their characteristics

·       Information technology

·       Major developments in transportation and communications technologies

 

Kondratiev cycles:

·       Length, number, core technologies associated with each Kondratiev cycle

·       Technological leaders (countries) during each cycle.

Product life cycle:

·       Different requirements at different stages for technology, capital intensity, critical production factors and optimal location or production.

Historical stages in the development of the production process:

·       Manufacture, machinofacture, Taylorism, Fordism, after-Fordism

·       Basic characteristics of Fordism, flexible specialization, and Japanese-inspired production approaches.

Geographies of innovation:

·       National systems of innovation

·       Codified knowledge and tacit knowledge

·       Innovative milieu, localized knowledge clusters, local buzz and global pipelines.

 

TRANSNATIONAL CORPORATIONS

·       Definition of TNCs

·       Three phases in the development of TNC activities of U.S.-based TNCs and types of FDI that typified these different phases

Explanations of transnational economic activities:

·       Internationalization of the circuits of capital and the order in which different circuits of capital were internationalized

·       Hymer’s explanation of transnational activity

·       Vernon’s approach (number of stages and know the basic characterization of each stage)

·       Dunning’s eclectic theory of international production

·       Sequential model of TNC development.

Organization of TNCs:

·       Factors affecting the organization of TNCs

·       Four commonly used organizational structures (product division, global product division, global geographic division, global matrix)

·       Four major ideal types of TNCs (multinational, international, global, integrated network).

Three types of FDI:

·       Market seeking, resource/asset seeking, efficiency seeking and how they differ.

·       Advantages and disadvantages of globally integrated strategies

·       Geographical embeddedness of TNCs

·       Basic differences among US, German and Japanese TNCs

·       East Asian business organizations:

o   keiretsu – horizontal and vertical (basic characterization and differences)

o   South Korean chaebols

 

TRANSNATIONAL PRODUCTION NETWORKS

Characteristics (functions) and locational needs of:

Control functions: corporate and regional headquarters.

R&D:

·       Three major phases of R&D in the production process and their different locational requirements

·       locational requirements of basic research, applied research, development work

·       demand reasons and supply-oriented reasons for R&D investments abroad by TNCs

·       three major categories of R&D facilities established by TNCs in foreign locations and how they differ (support laboratory, locally integrated R&D laboratory, international interdependent R&D laboratory).

Production units: 

·       Differences between: (a) globally concentrated production, (b) host-market production, (c) product specialization for a global or regional market, (d) transnational vertically integrated production.

·       corporate restructuring: reasons, spatial outcomes

·       Basic differences between horizontal, vertical and diagonal integration.

Marketing and sales operations

 

TNCs’ external networks of relationships

·       Outsourcing (subcontracting)

o   Commercial and industrial outsourcing

o   Types of industrial outsourcing

o   Costs and benefits of outsourcing to the participants

o   International outsourcing (differences between direct and indirect international outsourcing)

·       5 different types of transnational production network coordination: market, hierarchical, captive, relational and modular production networks – basic differences

·       International strategic alliances + types and advantages to participants

 

STATES AND GLOBALIZATION

State, nation, nation-state, states as containers of distinctive cultures, practices and institutions,

Varieties of capitalism: know also examples of countries in each type

·       Neo-liberal market capitalism

·       Social-market capitalism

·       Developmental capitalism

·       Authoritarian capitalism

·       Factors affecting how states will regulate economic activities: fiscal and monetary policies (know the difference between the two)

Trade policies:

·       Tariffs and non-tariff barriers (know the difference),

·       Export policies,

·       FDI policies,

·       Industry policies

·       Know the differences and examples of what kind of tools fall under which policy (for example, employment and labor policy is part of the industry policy)

States as competitors

·       Porter’s ‘diamond’ (know the four major determinants and two other components of nation’s competitiveness).

Regional economic blocs:

·       Preferential trading arrangements,

·       Four waves of regional economic agreements,

·       Approximate number or regional trade agreements in force in the world today

·       Types of regional economic integration: free trade area, customs union, common market, economic union – differences between different types.

·       European Union (know the Western European countries that are not members of the EU – Switzerland and Norway), when it was originally established, NAFTA, AFTA, APEC – what types of regional economic arrangements these are

·       Regulatory, or market-rational, state, developmental, or plan-rational state + examples of countries

The newly industrializing economies:

·       Three basic types of industrial strategy: export of indigenous commodities, import substitution (know the correct idealized sequence of import substitution stages), export-oriented industrialization,

·       Export processing zones

·       The comparison of South Korea, Taiwan, Singapore, China (special economic zones) and Mexico (maquiladoras).

 

RELATIONSHIPS BETWEEN STATES AND TRANSNATIONAL CORPORATIONS

·       Different fundamental goals of states and TNCs

·       Regulatory arbitrage

·       Bargaining processes between TNCs and states, dangers of a TNC strategy of transnational integration for states

·       Transfer pricing by TNCs

·       Active and obligated embeddedness

·       Relative bargaining powers of TNCs and states

·       Capturing value within GPNs

o   value creation, value enhancement, value capture

o   the importance of power in GPNs

 

Effects of TNCs on host economies:

·       Three most important factors that determine effects of FDI (TNCs) on host economies

o   mode of entry, function of the unit, operational attributes of the unit

·       Effects on capital and finance

·       Effects on technology, trade effects,

·       Effects of TNCs on domestic firms

o   local integration of foreign-owned enterprises – backward and forward supply linkages

o   negative and positive effects of FDI on host economies

o   FDI effects on job creation – direct employment effects what they depend on

·       Indirect employment effects of TNCs in host economies and what they depend on:

o   macro-economic effects, narrow and broad horizontal effects, vertical effects; backward  and forward

·       Economic upgrading strategies in GPNs:

o   process, product, functional, inter-sectoral, social upgrading

·       Strategic coupling

 

TNCs and home economies

·       Potential direct and indirect employment effects on home country employment (production-displacement effect, export-stimulus effect, home office effect, supporting firm effect).

 

WINNING AND LOSING IN THE WORLD ECONOMY

·       Globalization and uneven development

·       Convergence or divergence between more and less developed countries?

·       Archipelago economy

·       Global poverty

·       Rural poverty in the developing world: the most affected world regions

·       Inequalities within countries

·       Income inequalities within developed countries: trends in America and other developed economies

·       Income inequalities within developing countries

·       Unemployment in developed countries

·       Explanation of changes

·       Positive and negative effects of globalization

·       Policy responses to globalization in the older industrialized countries

·       Developing countries

o   Inequality

o   Changes in employment structure

o   Over-dependence on a narrow economic base

·       Winners and losers in the global economy in terms of income

 

CLOTHING INDUSTRIES

Basic features

·       buyer-driven production network

·       the idealized sequence of development

·       the geography of production and basic geographic trends

·       the geography of trade

·       Patterns of demand, importance of retailing chains, traditional and lean retailing-apparel supplier relations.

Production costs

·       labor costs and variations in labor costs

·       characterization of the labor force

Technological change

·       differences between textiles and garments industries

The role of the state

·       differences between developed and developing economies 

·       the multi-fiber arrangement: reasons, importance for the changing geography of production

Corporate strategies

·       globalization/internationalization of clothing industries

·       differences between textiles and garments industries

·       importance of international subcontracting and licensing

·       ‘factory-less’ firms (Nike, for example)

Regional production networks

·       Asian – triangular manufacturing

·       United States-focused regional production networks in the Americas

·       US textiles and garments industries – collapse and reasons for survival in the US.

 

AUTOMOBILE INDUSTRY

Basic features

·       Producer-driven production network

·       global production trends

·       the geography of production – and major changes since 1960

·       the geography of trade

·       The 2008-2009 global automotive crisis and its uneven geographic effects

·       Three types of areas of automotive production growth outside the automotive industry core:

o   protected automotive markets

o   integrated peripheral markets

o   emerging regional markets.

Demand

·       Basic features, geographic differences, new and replacement demand

·       Differences between mass production and lean production

·       Changes in supplier relationships

The role of the state in the automobile industry

·       Differences between Western Europe, Japan and the United States

·       state policies to develop the automobile industry in emerging economies

·       the role of the state in the development of the South Korean automobile industry

Corporate strategies

·       Acquisitions, mergers and alliances

·       world car strategy

·       niche market strategy.

Regionalizing production networks

·       Europe + major trends in FDI

·       North America + major trends in FDI

·       East Asia + major trends in FDI

 

ADVANCED BUSINESS SERVICES (ABSs)

Basic features:

·       The importance of ABSs for the economy

·       what is included under ABSs

·       The sequence of the stages of development of the banking system

·       Different types of financial institutions

o   commercial bank

o   investment bank

o   credit card company

o   insurance company

o   accounting firm.

·       Different types of professional business firms

o   legal firm

o   business consultancy firm

o   advertising agency

o   headhunting firm.

The dynamics of the market for advanced business services

·       Four major elements of a sharp intensification of competition and a rapid transformation of markets:

o   market saturation

o   disintermediation

o   deregulation of financial markets

o   internationalization of financial markets

Technological innovation and advanced business services

·       The three key technologies that have transformed the financial services industries

o   computers

o   microprocessors

o   satellites and fiber-optic cables

·       Effects of information technologies on financial services

·       Securitization of financial transactions

Product innovation

·       Derivatives: futures, swaps and options

The role of the state in financial services

·       Regulation and deregulation

·       Sovereign wealth funds

 

·       Corporate strategies in financial services

·       Globalization of the financial system

·       Transnationalization of legal services

·       Executive recruitment

Geographical structure of financial services activities

·       The global network of financial centers

·       Offshore financial centers

·       Decentralization of the ‘back office’ functions