Towards regenerative regional development in responsible value chains: an agentic response to recent crises

Abstract

In this paper, we empirically and theoretically present regenerative regional development in responsible value chains as an alternative to the prevailing traditional, neoliberal economic rationale of globalization. We develop the argument on the back of a longitudinal in-depth case study on actors’ engagement in the recurring crises in the maritime industry in Sunnmøre/Norway. The alternative perspective is an agentic response from the business community in the wake of recent crises. It builds on advanced manufacturing capabilities, automation and precision technologies, which promise local economic regeneration while reducing the reliance on low-cost labour, substantially cuts emissions through reduced long-haul transport, use of green energy and more energy-efficient production processes. To succeed, however, it calls for policies that promote the building of local capabilities and penalize practices causing environmental and social harm in global value chains, making it possible to move towards responsible and shorter value chains.