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Deindustrialisation in the New Millennium

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Redefining Global Markets

Part of the book series: SpringerBriefs in Economics ((BRIEFSECONOMICS))

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Abstract

Majzlíková engages in a theoretical exploration of deindustrialisation, focusing in particular on the declining share of labour in manufacturing and the declining share of value added within the sector. Alongside a concise historical examination of the phenomenon, she presents current evidence of deindustrialisation in the new millennium. The author examines the main factors contributing to the decline of manufacturing, in particular the role of outsourcing, offshoring and their evolving dynamics within global value chains. In the second part of the chapter, Majzlíková raises critical questions about the continuing global nature of value chains and explores the benefits and challenges associated with regionalisation, including concepts such as nearshoring, backshoring, friendshoring and reshoring.

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Notes

  1. 1.

    According to Lábaj and Majzlíková (2022), outsourcing is usually defined by firm boundaries and means the procurement of goods and services from other firms. Input–output tables are constructed on the basis of the location principle rather than the ownership principle. A statistical problem arises only in situations in which a manufacturing firm outsources some activity to a firm that is classified in the services sector. The data used in the present analysis only capture interindustry linkages and do not include information on firm boundaries. Therefore, this phenomenon is referred to as intersectoral outsourcing.

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Authors and Affiliations

  1. Department of Economic Policy, University of Economics in Bratislava, Bratislava, Slovakia

    Erika Majzlíková

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  1. Erika Majzlíková
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Majzlíková, E. (2024). Deindustrialisation in the New Millennium. In: Redefining Global Markets. SpringerBriefs in Economics. Springer, Cham. https://doi.org/10.1007/978-3-031-56042-2_2

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