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A Note on Countertrade: Contractual Uncertainty and Transaction Governance in Emerging Economies

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  • Chong Ju Choi

    (University of Cambridge)

  • Soo Hee Lee

    (Birbeck College, University of London)

  • Jai Boem Kim

    (City University Business School)

Abstract

This paper develops a conceptual framework for analyzing organizational responses to contractual uncertainty in the context of emerging economies. Elaborating on Hennart's (1989) transaction cost rationale for countertrade, we develop a typology of exchange and transaction governance pertinent to the study of emerging economies: Contract, trust and hostage. Notwithstanding the traditional explanation based on foreign exchange shortage, we argue that the persistence of international countertrade illustrates organizational remedies to institutional deficiency in transaction governance.© 1999 JIBS. Journal of International Business Studies (1999) 30, 189–201

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  • Chong Ju Choi & Soo Hee Lee & Jai Boem Kim, 1999. "A Note on Countertrade: Contractual Uncertainty and Transaction Governance in Emerging Economies," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 30(1), pages 189-201, March.
    • Handle: RePEc:pal:jintbs:v:30:y:1999:i:1:p:189-201
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