IDEAS home Printed from https://ideas.repec.org/a/eee/jbrese/v138y2022icp77-91.html
   My bibliography  Save this article

International trade resilience and the Covid-19 pandemic

Author

Listed:
  • Mena, Carlos
  • Karatzas, Antonios
  • Hansen, Carsten

Abstract

The Covid-19 pandemic represents a low-probability, high-impact systemic risk that has severely disrupted international trade, reshaping the patterns of globalization. Drawing from the concept of supply chain resilience, which involves both the ability of a system to withstand an impact (robustness) and recover from it (responsiveness), we investigate country-level trade resilience during the 1st wave of the pandemic. By employing Fuzzy-set Qualitative Comparative Analysis (fsQCA), we identify configurations of country-level factors, i.e., country profiles, based on their effectiveness in engendering trade resilience. These factors include social and economic globalization, logistics performance, healthcare preparedness, national government response, and income level. The results show how these factors coalesced to strengthen (or weaken) international trade resilience, contributing to a holistic understanding of the impact of the pandemic on international trade. The findings inform the post-Covid-19 debate on international trade, with implications for managers and policymakers.

Suggested Citation

  • Mena, Carlos & Karatzas, Antonios & Hansen, Carsten, 2022. "International trade resilience and the Covid-19 pandemic," Journal of Business Research, Elsevier, vol. 138(C), pages 77-91.
  • Handle: RePEc:eee:jbrese:v:138:y:2022:i:c:p:77-91
    DOI: 10.1016/j.jbusres.2021.08.064
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S014829632100638X
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.jbusres.2021.08.064?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Beynon, Malcolm J. & Jones, Paul & Pickernell, David, 2016. "Country-based comparison analysis using fsQCA investigating entrepreneurial attitudes and activity," Journal of Business Research, Elsevier, vol. 69(4), pages 1271-1276.
    2. Luisa Mart𓐊Author-X-Name-First: Luisa & Leandro Garc𨀍, 2014. "The importance of the Logistics Performance Index in international trade," Applied Economics, Taylor & Francis Journals, vol. 46(24), pages 2982-2992, August.
    3. Kalle Pajunen, 2008. "Institutions and inflows of foreign direct investment: a fuzzy-set analysis," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 39(4), pages 652-669, June.
    4. Piñeiro-Chousa, Juan & Vizcaíno-González, Marcos & Caby, Jérôme, 2019. "Financial development and standardized reporting: A comparison among developed, emerging, and frontier markets," Journal of Business Research, Elsevier, vol. 101(C), pages 797-802.
    5. Christoph Bode & Denis Hübner & Stephan M. Wagner, 2014. "Managing Financially Distressed Suppliers: An Exploratory Study," Journal of Supply Chain Management, Institute for Supply Management, vol. 50(4), pages 24-43, October.
    6. Savina Gygli & Florian Haelg & Niklas Potrafke & Jan-Egbert Sturm, 2019. "The KOF Globalisation Index – revisited," The Review of International Organizations, Springer, vol. 14(3), pages 543-574, September.
    7. Parker, Hamieda & Ameen, Khadija, 2018. "The role of resilience capabilities in shaping how firms respond to disruptions," Journal of Business Research, Elsevier, vol. 88(C), pages 535-541.
    8. Donal Crilly, 2011. "Predicting stakeholder orientation in the multinational enterprise: A mid-range theory," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 42(5), pages 694-717, June.
    9. Tekic, Anja & Tekic, Zeljko, 2021. "Culture as antecedent of national innovation performance: Evidence from neo-configurational perspective," Journal of Business Research, Elsevier, vol. 125(C), pages 385-396.
    10. A. Jovanović & P. Klimek & O. Renn & R. Schneider & K. Øien & J. Brown & M. DiGennaro & Y. Liu & V. Pfau & M. Jelić & T. Rosen & B. Caillard & S. Chakravarty & P. Chhantyal, 2020. "Assessing resilience of healthcare infrastructure exposed to COVID-19: emerging risks, resilience indicators, interdependencies and international standards," Environment Systems and Decisions, Springer, vol. 40(2), pages 252-286, June.
    11. Adam Rose & Shu‐Yi Liao, 2005. "Modeling Regional Economic Resilience to Disasters: A Computable General Equilibrium Analysis of Water Service Disruptions," Journal of Regional Science, Wiley Blackwell, vol. 45(1), pages 75-112, February.
    12. Juan Pineiro-Chousa & Marcos Vizcaíno-González & Jérôme Caby, 2019. "Financial development and standardized reporting: A comparison among developed, emerging, and frontier markets," Post-Print hal-02155825, HAL.
    13. Verma, Surabhi & Gustafsson, Anders, 2020. "Investigating the emerging COVID-19 research trends in the field of business and management: A bibliometric analysis approach," Journal of Business Research, Elsevier, vol. 118(C), pages 253-261.
    14. Önsel Ekici, Şule & Kabak, Özgür & Ülengin, Füsun, 2016. "Linking to compete: Logistics and global competitiveness interaction," Transport Policy, Elsevier, vol. 48(C), pages 117-128.
    15. Olya, Hossein G.T. & Altinay, Levent, 2016. "Asymmetric modeling of intention to purchase tourism weather insurance and loyalty," Journal of Business Research, Elsevier, vol. 69(8), pages 2791-2800.
    16. Woodside, Arch G., 2014. "Embrace•perform•model: Complexity theory, contrarian case analysis, and multiple realities," Journal of Business Research, Elsevier, vol. 67(12), pages 2495-2503.
    17. repec:bla:jomstd:v:47:y:2010:i:s2:p:1417-1433 is not listed on IDEAS
    18. Dormady, Noah & Roa-Henriquez, Alfredo & Rose, Adam, 2019. "Economic resilience of the firm: A production theory approach," International Journal of Production Economics, Elsevier, vol. 208(C), pages 446-460.
    19. Estevão, João & Lopes, José Dias & Penela, Daniela & Soares, José Miguel, 2020. "The Doing Business ranking and the GDP. A qualitative study," Journal of Business Research, Elsevier, vol. 115(C), pages 435-442.
    20. Ian Goldin & Mike Mariathasan, 2015. "The Butterfly Defect: How Globalization Creates Systemic Risks, and What to Do about It," Economics Books, Princeton University Press, edition 1, volume 1, number 10214-2.
    21. Alain Verbeke & Wenlong Yuan, 2021. "A Few Implications of the COVID‐19 Pandemic for International Business Strategy Research," Journal of Management Studies, Wiley Blackwell, vol. 58(2), pages 597-601, March.
    22. Andrew J. Hoffman & William Ocasio, 2001. "Not All Events Are Attended Equally: Toward a Middle-Range Theory of Industry Attention to External Events," Organization Science, INFORMS, vol. 12(4), pages 414-434, August.
    23. Ivan Russo & Daniel Pellathy & Ayman Omar, 2021. "Managing Outsourced Reverse Supply Chain Operations: Middle‐Range Theory Development," Journal of Supply Chain Management, Institute for Supply Management, vol. 57(4), pages 63-85, October.
    24. Kevin P. Scheibe & Jennifer Blackhurst, 2018. "Supply chain disruption propagation: a systemic risk and normal accident theory perspective," International Journal of Production Research, Taylor & Francis Journals, vol. 56(1-2), pages 43-59, January.
    25. Wei Xie & Adam Rose & Shantong Li & Jianwu He & Ning Li & Tariq Ali, 2018. "Dynamic Economic Resilience and Economic Recovery from Disasters: A Quantitative Assessment," Risk Analysis, John Wiley & Sons, vol. 38(6), pages 1306-1318, June.
    26. Paolo Aversa & Santi Furnari & Stefan Haefliger, 2015. "Editor's Choice Business model configurations and performance: A qualitative comparative analysis in Formula One racing, 2005–2013," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 24(3), pages 655-676.
    27. Farok J. Contractor & Vikas Kumar & Sumit K. Kundu & Torben Pedersen, 2010. "Reconceptualizing the Firm in a World of Outsourcing and Offshoring: The Organizational and Geographical Relocation of High‐Value Company Functions," Journal of Management Studies, Wiley Blackwell, vol. 47(8), pages 1417-1433, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lawton, Thomas C. & De Villa, Maria Andrea & Santamaria-Alvarez, Sandra Milena, 2024. "Making Sense of Socio-Political Risks in International Business: A Configurational Approach to Embracing Complexity," Journal of International Management, Elsevier, vol. 30(2).
    2. Felix Reimann & Tobias Kosmol & Lutz Kaufmann, 2017. "Responses to Supplier-Induced Disruptions: A Fuzzy-Set Analysis," Journal of Supply Chain Management, Institute for Supply Management, vol. 53(4), pages 37-66, October.
    3. Sascha Kraus & Domingo Ribeiro-Soriano & Miriam Schüssler, 2018. "Fuzzy-set qualitative comparative analysis (fsQCA) in entrepreneurship and innovation research – the rise of a method," International Entrepreneurship and Management Journal, Springer, vol. 14(1), pages 15-33, March.
    4. Brenes, Esteban R. & Ciravegna, Luciano & Pichardo, Caleb A., 2019. "Managing institutional voids: A configurational approach to understanding high performance antecedents," Journal of Business Research, Elsevier, vol. 105(C), pages 345-358.
    5. Dormady, Noah C. & Rose, Adam & Roa-Henriquez, Alfredo & Morin, C. Blain, 2022. "The cost-effectiveness of economic resilience," International Journal of Production Economics, Elsevier, vol. 244(C).
    6. Kamini Gupta & Donal Crilly & Thomas Greckhamer, 2020. "Stakeholder engagement strategies, national institutions, and firm performance: A configurational perspective," Strategic Management Journal, Wiley Blackwell, vol. 41(10), pages 1869-1900, October.
    7. Önsel Ekici, Şule & Kabak, Özgür & Ülengin, Füsun, 2019. "Improving logistics performance by reforming the pillars of Global Competitiveness Index," Transport Policy, Elsevier, vol. 81(C), pages 197-207.
    8. Richter, Nicole Franziska & Hauff, Sven, 2022. "Necessary conditions in international business research–Advancing the field with a new perspective on causality and data analysis," Journal of World Business, Elsevier, vol. 57(5).
    9. Xue, Biao & Lin, Yan & Ren, Fangxiao & Li, Runfo, 2024. "Business environment ecosystem and manufacturing upgrading: A configurational approach," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 1225-1237.
    10. Federica Nieri & Luciano Ciravegna & Ruth V. Aguilera & Elisa Giuliani, 2019. "Larger, more internationalized, better behaved? A configurational study of em erging market multinational enterprises' involvement in corporate wrongdoing," Discussion Papers 2019/255, Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy.
    11. Mustafa Polat & Karahan Kara & Avni Zafer Acar, 2023. "Competitiveness based logistics performance index: An empirical analysis in Organisation for Economic Co-operation and Development countries," Competition and Regulation in Network Industries, , vol. 24(2-3), pages 97-119, June.
    12. Maureen S. Golan & Laura H. Jernegan & Igor Linkov, 2020. "Trends and applications of resilience analytics in supply chain modeling: systematic literature review in the context of the COVID-19 pandemic," Environment Systems and Decisions, Springer, vol. 40(2), pages 222-243, June.
    13. Pappas, Nikolaos & Caputo, Andrea & Pellegrini, Massimiliano Matteo & Marzi, Giacomo & Michopoulou, Eleni, 2021. "The complexity of decision-making processes and IoT adoption in accommodation SMEs," Journal of Business Research, Elsevier, vol. 131(C), pages 573-583.
    14. Moghaddam, Kaveh & Sethi, Deepak & Weber, Thomas & Wu, Jun, 2014. "The Smirk of Emerging Market Firms: A Modification of the Dunning's Typology of Internationalization Motivations," Journal of International Management, Elsevier, vol. 20(3), pages 359-374.
    15. Mehran, Javaneh & Olya, Hossein GT., 2020. "Canal boat tourism: Application of complexity theory," Journal of Retailing and Consumer Services, Elsevier, vol. 53(C).
    16. ben Jabeur, Sami & Mefteh-Wali, Salma & Carmona, Pedro, 2021. "The impact of institutional and macroeconomic conditions on aggregate business bankruptcy," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 108-119.
    17. Sarianna M. Lundan & Jiatao Li, 2019. "Adjusting to and learning from institutional diversity: Toward a capability-building perspective," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(1), pages 36-47, February.
    18. Fan, Di & Cui, Lin & Li, Yi & Zhu, Cherrie J., 2016. "Localized learning by emerging multinational enterprises in developed host countries: A fuzzy-set analysis of Chinese foreign direct investment in Australia," International Business Review, Elsevier, vol. 25(1), pages 187-203.
    19. Dedeoglu, Bekir Bora & Boğan, Erhan & Kucukergin, Kemal Gurkan & Birinci, Muhammet Cenk, 2023. "Are tourists afraid of the unknown? Examining the role of travel constraints and tourist xenophobia with symmetric and asymmetric perspectives," Journal of Business Research, Elsevier, vol. 165(C).
    20. Olya, Hossein GT & Mehran, Javaneh, 2017. "Modelling tourism expenditure using complexity theory," Journal of Business Research, Elsevier, vol. 75(C), pages 147-158.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:138:y:2022:i:c:p:77-91. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbusres .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.