ABSTRACT
‘Value chain analysis’ is a typical expression of the relational view of economic activity that has emerged as something of a paradigm in the analysis of economic performance since the late 1980s. Yet value chain analysis is not the only relational approach. In this chapter, we seek to complement value chain analysis with the ‘business systems’ approach, an analytical framework that focuses explicitly on the institutions steering economic relations within a geographical context. By means of a comparative analysis of development in five regions of South-East Asia, we aim to elucidate the contributions of value chain analysis as well as of business systems analysis in explaining the performance of the case study areas, especially in terms of the inclusiveness of regional economic development.
