The usefulness of social capital in assessing the welfare effects of private and third-party certification food safety policy standards: Trust and networks
- Publisher: Emerald
HD28 | HM | HD61 | H1 | HD | HF
Purpose – The aim of this paper is to assess the welfare effects of the newest trends in food safety policies characterised by the shift from public to private intervention.\ud \ud Design/methodology/approach – Food safety policies are analysed through concepts of new economic sociology, with a critical review of the literature on social capital.\ud \ud Findings – The article shows that as food safety and quality attributes responsible for the exchange complexity are simply codified and enforced through standards and third-party certification, the global value chain governance shifts from a relational type to a power-based type, with possible negative welfare effects.\ud \ud Research limitations/implications – Further research would be required to verify the welfare effects suggested on the theoretical ground.\ud \ud Practical implications – The article makes a useful updating of food safety policies and organisational innovation in the food system.\ud \ud Originality/value – The paper introduces some new (with respect to the marketing literature related to the food system) concepts and theories of economic sociology.
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