global value chains (1) 썸네일형 리스트형 Theory of supply chains:a working capital approach(23.1.25)/Se-Jik Kim(서울대)外.BIS This paper presents a ìtime-to-buildîtheory of supply chains which implies a key role for the Önancing of working capital as a determinant of supply chain length. We apply our theory to o§shoring and trade, where Örms strike a balance between the productivity gain due to o§- shoring against the greater Önancial cost due to longer supply chains. In equilibrium, the ratio of trade to GDP, inventor.. 이전 1 다음