IBS Lunchtime Research Seminar - From Chains to Change: Rethinking Industrial Policy in an Age of Global Disruption

You are cordially invited to attend an International Business and Strategy Departmental Research Meeting, during which there will be a presentation by Dr Pavida Panond, Thammasat Business School Thammasat University . A reminder that attendance for IBS (full time, research oriented) staff and full-time students is compulsory, and where possible, must be in person. Individuals unable to attend in person, due to legitimate reasons will be provided a Teams link on request. Non-IBS staff are welcome to attend, but must register prior to the event. If you have not received the email invite please email Angie Clark

Please join us in Room 108, Henley Business School, if you would like to attend, please register using the link below:

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Please make sure you let me know in advance if you intend to attend in person so that the correct amount of catering is booked.

Date: Wednesday 26th March 2025, HBS Room 108

Time: 13.00 - 13.30

Abstract:

The 2020s have ushered in an era where disruptions - from pandemics to geopolitical conflicts - are reshaping our world. This has marked a profound shift from prosperity-driven to security-focused economic development, bringing industrial policy back to center stage. This seminar examines a fundamental transformation in industrial policy, characterised by an increase in economic nationalism and the evolving dynamics between advanced and emerging economies.

Under the global value chain-driven growth, industrial policy shared a complementary pattern: advanced economies supported their multinationals' global expansion, while emerging economies competed to attract foreign investment and join global value chains. Both groups' policies, though different, worked together to facilitate global economic integration. However, the current geopolitics has disrupted this complementarity. Advanced economies now pursue selective de-risking, favouring national independence over global integration. This has forced emerging economies into a complex balancing act between competing to remain in value chain systems while developing their own resilience.

This shift suggests industrial policy is no longer just about economic efficiency or comparative advantage. Instead, it must balance multiple objectives: security, sustainability, and strategic autonomy, while managing increasingly complex value chain relationships.This talk offers crucial insights for international business scholarship by bridging a critical gap in our understanding of how firm strategies evolve in response to changing industrial policies and global value chain dynamics. It shows how industrial policy actively shapes firms' strategic choices, from location decisions to innovation investments and partnership strategies. By understanding these dynamics, international business scholars can better explain firm behaviour in an era where the rules of globalisation are being fundamentally rewritten.