Publication

This paper explains how Global Wealth Chains (GWC) are created, maintained and governed. The authors highlight thee variables in how GWCs are articulated and change according to 1) the complexity of transactions; 2) regulatory liability; and 3) innovation capacities among suppliers of products used in wealth chains. They then differentiate five types of global value chain governance – market, modular, relational, captive, and hierarchy. Finally, they explain how GWCs intersect with value chains and real economies, and provide three brief case studies on offshore shell companies, family property trusts, and global-scale corporate tax avoidance.