Table of Contents

Handbook of Manufacturing Industries in the World Economy

Handbook of Manufacturing Industries in the World Economy

Research Handbooks in Business and Management series

Edited by John R. Bryson, Jennifer Clark and Vida Vanchan

This interdisciplinary volume provides a critical and multi-disciplinary review of current manufacturing processes, practices, and policies, and broadens our understanding of production and innovation in the world economy. Chapters highlight how firms and industries modify existing processes to produce for established and emerging markets through dynamic and design-driven strategies. This approach allows readers to view transformations in production systems and processes across sectors, technologies and industries. Contributors include scholars ranging from engineering to policy to economic geography. The evidence demonstrates that manufacturing continues to matter in the world economy.

Chapter 3: How does financialization affect manufacturing investment? Preliminary evidence from the US and UK

Susan Christopherson

Subjects: business and management, strategic management, geography, economic geography, urban and regional studies, regional studies


In both the US and UK, policymakers have been excited to see a small but significant increase in manufacturing activity and exports in their national economies. Although growth in manufacturing jobs continues to be unpredictable, the creation of manufacturing jobs has been particularly noticeable in light of the major job losses since the early 2000s. The job numbers are not dramatic, however. Approximately 500,000 manufacturing jobs were created in the US between 2009 and 2012 but they represent a fraction of the over 4 million jobs lost in manufacturing since 2000 (Levinson, 2013a). In the UK a recent increase in manufacturing jobs has been slower but exports have been increasing from traditional manufacturing centers, such as the North East (Aldrick, 2013). While not a cause for celebration, these trends have re-awakened interest in manufacturing. There is recognition in both the US and UK that manufacturing matters, not only because of the jobs it creates but also because of its stimulus to innovation and its contribution to exports and the balance of trade. National and regional policymakers are taking a new look at manufacturing and attempting to lure more production firms with promises of tax incentives and workforce training grants.

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