This book brings together leading scholars of international political economy to develop innovative conceptual models of contemporary capitalism. It examines the rise of Global value chains and global production networks as dominant features of the global economic system, and uses these as explanatory models for the latest phase of global economic restructuring.

1. Global value chains and global production networks in the changing international political economy: An introduction 2. Global value chains in a post-Washington Consensus world 3. Value chains, neoliberalism and development practice: The Indonesian experience 4. Governing the market in a globalizing era: Developmental states, global production networks and inter-firm dynamics in East Asia 5. The role of the state as an inter-scalar mediator in globalizing liquid crystal display industry development in South Korea 6. Market rebalancing of global production networks in the Post-Washington Consensus globalizing era: Transformation of export-oriented development in China 7. Global models of networked organization, the positional power of nations and economic development 8. Explaining governance in global value chains: A modular theory-building effort 9. Missing links: Logistics, governance and upgrading in a shifting global economy