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Cambridge Journal of Economics Advance Access published online on August 13, 2007
Cambridge Journal of Economics, doi:10.1093/cje/bem016
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© The Author 2007. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.

The global business revolution, the cascade effect, and the challenge for firms from developing countries

Peter Nolan, Jin Zhang and Chunhang Liu*

* University of Cambridge, UK; University of Cambridge, UK; and China Industrial Development Research Center, Beijing

Address for correspondence: Dr Jin Zhang, Judge Business School, University of Cambridge, Trumpington Street, Cambridge CB2 1AG, UK; email: j.zhang{at}jbs.cam.ac.uk

The global business revolution since the 1980s has witnessed an unprecedented degree of industrial consolidation and concentration of business power at a global level. Firms with powerful, globally recognised technologies and/or brands constitute the ‘systems integrators’ at the apex of extended supply chains. This paper examines the supply chains in four different sectors: aerospace, telecommunications, automobiles and beverages. It finds that these sectors have striking similarities in the way in which the core systems integrators have stimulated industrial concentration across the whole supply chain. This ‘cascade effect’ has profound implications for firms from developing countries in catching up at the firm level.

Key Words: Global business revolution • Industrial consolidation • Cascade effect • Value chain • Catch-up

JEL classifications: F02, L00, M00, O00, O03, 049

Manuscript received March 27, 2006; final version received February 23, 2007.


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