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Intellectual monopoly in global value chains

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  • Cédric Durand
  • Wiliiam Milberg

Abstract

This paper analyses the role of intangibles in global value chains (GVCs). We find that the intensification of the use of intangible assets within these chains has created new sources of market power. The analysis builds the notion of Intellectual Monopoly Capitalism, where government protections of intellectual property have the effect of locking in the monopoly power from intangible asset creation. We extend it to ‘information rents’ arising from the presence of scale economies and network externalities associated with the production of intangible assets. GVC integration requires a dense circulation of information flows to communicate specifications, standards, technical know-how in addition to costs and other operational details. The expansion of GVC trade is thus linked to a rising mobilization and circulation of intangibles and the monopoly dynamics arising from intangibles need to be assessed in this context.

Suggested Citation

  • Cédric Durand & Wiliiam Milberg, 2020. "Intellectual monopoly in global value chains," Review of International Political Economy, Taylor & Francis Journals, vol. 27(2), pages 404-429, March.
    • Handle: RePEc:taf:rripxx:v:27:y:2020:i:2:p:404-429
    DOI: 10.1080/09692290.2019.1660703
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    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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