IDEAS home Printed from https://ideas.repec.org/a/pal/jintbs/v51y2020i9d10.1057_s41267-020-00355-5.html
   My bibliography  Save this article

The theory and empirics of the structural reshaping of globalization

Author

Listed:
  • Peter J. Buckley

    (University of Leeds)

Abstract

Petricevich and Teece’s (2019) article on the reshaping of globalization raises profound issues on the theory and empirics of international business. The fracture in the world economy between the USA and China is the result of Government policy, but its relationship to rising VUCA (volatility, uncertainty, complexity, and ambiguity) elements in globalization is more complex than simple policy changes. This paper suggests that a reappraisal of theory is required, not least because of the eruption of Covid-19, but that internalization theory is the best source of theoretical restructuring in the face of the new empirical realities facing the global economy.

Suggested Citation

  • Peter J. Buckley, 2020. "The theory and empirics of the structural reshaping of globalization," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(9), pages 1580-1592, December.
    • Handle: RePEc:pal:jintbs:v:51:y:2020:i:9:d:10.1057_s41267-020-00355-5
    DOI: 10.1057/s41267-020-00355-5
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41267-020-00355-5
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1057/s41267-020-00355-5?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. Kreps, David M., 1990. "Game Theory and Economic Modelling," OUP Catalogue, Oxford University Press, number 9780198283812.
    2. Olga Petricevic & David J Teece, 2019. "The structural reshaping of globalization: Implications for strategic sectors, profiting from innovation, and the multinational enterprise," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(9), pages 1487-1512, December.
    3. Mark Casson, 1979. "Alternatives to the Multinational Enterprise," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-04645-4, December.
    4. Peter J Buckley & Timothy M Devinney & Jordan J Louviere, 2007. "Do managers behave the way theory suggests? A choice-theoretic examination of foreign direct investment location decision-making," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 38(7), pages 1069-1094, December.
    5. Peter W. Liesch & Lawrence S. Welch & Peter J. Buckley, 2011. "Risk and Uncertainty in Internationalisation and International Entrepreneurship Studies," Management International Review, Springer, vol. 51(6), pages 851-873, December.
    6. Raymond Vernon, 1966. "International Investment and International Trade in the Product Cycle," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 80(2), pages 190-207.
    7. Peter J. Buckley & Mark Casson, 1991. "The Future of the Multinational Enterprise," Palgrave Macmillan Books, Palgrave Macmillan, edition 0, number 978-1-349-21204-0, December.
    8. Peter J. Buckley & Mark Casson, 2010. "Models of the Multinational Enterprise," Palgrave Macmillan Books, in: The Multinational Enterprise Revisited, chapter 7, pages 147-176, Palgrave Macmillan.
    9. Buckley, Peter J., 2009. "Internalisation thinking: From the multinational enterprise to the global factory," International Business Review, Elsevier, vol. 18(3), pages 224-235, June.
    10. Peter J. Buckley, 2011. "International Integration and Coordination in the Global Factory," Management International Review, Springer, vol. 51(2), pages 269-283, April.
    11. Mark Casson, 1995. "The Organization of International Business," Books, Edward Elgar Publishing, number 81.
    12. Vernon, Raymond, 1979. "The Product Cycle Hypothesis in a New International Environment," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 41(4), pages 255-267, November.
    13. Mark Casson, 2000. "Economics of International Business," Books, Edward Elgar Publishing, number 2063.
    14. Rugman, Alan M. & Brewer, Thomas L. (ed.), 2001. "The Oxford Handbook of International Business," OUP Catalogue, Oxford University Press, number 9780199241828.
    15. Bruce Kogut & Nalin Kulatilaka, 1994. "Operating Flexibility, Global Manufacturing, and the Option Value of a Multinational Network," Management Science, INFORMS, vol. 40(1), pages 123-139, January.
    16. Peter J Buckley & Martin J Carter, 2004. "A formal analysis of knowledge combination in multinational enterprises," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 35(5), pages 371-384, September.
    17. Peter J Buckley & Liang Chen & L Jeremy Clegg & Hinrich Voss, 2018. "Risk propensity in the foreign direct investment location decision of emerging multinationals," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(2), pages 153-171, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Andrea Calabrò & James J. Chrisman & Liena Kano, 2022. "Family-owned multinational enterprises in the post-pandemic global economy," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(5), pages 920-935, July.
    2. Godinho, Manuel Mira & Simões, Vítor Corado, 2023. "The Tech Cold War: What can we learn from the most dynamic patent classes?," International Business Review, Elsevier, vol. 32(6).
    3. Shameen Prashantham & Julian Birkinshaw, 2022. "The local roots of global entrepreneurship: Insights from Stephen Young," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(5), pages 950-961, July.
    4. Lorraine Eden & Charles F. Hermann & Stewart R. Miller, . "Evidence-based policymaking in a VUCA world," UNCTAD Transnational Corporations Journal, United Nations Conference on Trade and Development.
    5. Niraja Srinivasan & Lorraine Eden, 2021. "Going digital multinationals: Navigating economic and social imperatives in a post-pandemic world," Journal of International Business Policy, Palgrave Macmillan, vol. 4(2), pages 228-243, June.
    6. David Godsell & Ugur Lel & Darius Miller, 2023. "U.S. national security and de-globalization," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(8), pages 1471-1494, October.
    7. Wu, Sihong & Fan, Di, 2023. "Taking two to tango: A comparative nationalism view of cross-border acquisitions," International Business Review, Elsevier, vol. 32(3).
    8. Hartwell, Christopher A. & Devinney, Timothy, 2021. "Populism, political risk, and pandemics: The challenges of political leadership for business in a post-COVID world," Journal of World Business, Elsevier, vol. 56(4).
    9. Puhr, Harald & Müllner, Jakob, 2022. "Foreign to all but fluent in many: The effect of multinationality on shock resilience," Journal of World Business, Elsevier, vol. 57(6).
    10. Yadong Luo, 2024. "Paradigm shift and theoretical implications for the era of global disorder," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 55(2), pages 127-135, March.
    11. Matevž Rašković, 2022. "International business policymaking for a “wicked” world," Journal of International Business Policy, Palgrave Macmillan, vol. 5(3), pages 353-362, September.
    12. Farok J. Contractor, 2022. "The world economy will need even more globalization in the post-pandemic 2021 decade," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(1), pages 156-171, February.
    13. Thomas Puls & Werner Olle & Heike Proff & Oliver Falck & Nina Czernich & Johannes Koenen & Florian Herrmann & Wolfgang Beinhauer & Stefan Reindl & Alexander Wottge & Roman Zitzelsberger & Ilka Horstme, 2021. "Strukturwandel in der Automobilindustrie – wirkt die Pandemie als Beschleuniger?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 74(05), pages 03-35, May.
    14. Matthew M. C. Allen & Geoffrey Wood & Mehmet Demirbag, 2022. "Developing theoretically informed typologies in international business: Why we need them, and how to do it," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(9), pages 2133-2146, December.
    15. Yadong Luo, 2022. "Illusions of techno-nationalism," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(3), pages 550-567, April.

    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. Buckley, Peter J., 2016. "The contribution of internalisation theory to international business: New realities and unanswered questions," Journal of World Business, Elsevier, vol. 51(1), pages 74-82.
    2. Peter J. Buckley, 2018. "Internalisation Theory and Outward Direct Investment by Emerging Market Multinationals," Management International Review, Springer, vol. 58(2), pages 195-224, April.
    3. Buckley, Peter J., 2009. "Internalisation thinking: From the multinational enterprise to the global factory," International Business Review, Elsevier, vol. 18(3), pages 224-235, June.
    4. Buckley, Peter J., 2016. "Alan Rugman and internalisation theory," International Business Review, Elsevier, vol. 25(3), pages 753-757.
    5. Tamar Almor & Niron Hashai & Seev Hirsch, 2006. "The product cycle revisited: Knowledge intensity and firm internationalization," Management International Review, Springer, vol. 46(5), pages 507-528, September.
    6. Dunning, John H., 2000. "The eclectic paradigm as an envelope for economic and business theories of MNE activity," International Business Review, Elsevier, vol. 9(2), pages 163-190, April.
    7. Danchi Tan & Weichieh Su & Joseph T. Mahoney & Yasemin Kor, 2020. "A review of research on the growth of multinational enterprises: A Penrosean lens," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(4), pages 498-537, June.
    8. Bublu Thakur-Weigold & Sébastien Miroudot, 2024. "Supply chain myths in the resilience and deglobalization narrative: consequences for policy," Journal of International Business Policy, Palgrave Macmillan, vol. 7(1), pages 99-111, March.
    9. Mohamed Azzim Gulamhussen, 2009. "A Theoretical Perspective on the Location of Banking FDI," Management International Review, Springer, vol. 49(2), pages 163-178, April.
    10. Oxelheim, Lars & Randøy, Trond & Stonehill, Arthur, 2001. "On the treatment of finance-specific factors within the OLI paradigm," International Business Review, Elsevier, vol. 10(4), pages 381-398, August.
    11. Verbeke, Alain & Hutzschenreuter, Thomas & Pyasi, Nishant, 2021. "The dark side of B2B relationships in GVCs – Micro-foundational influences and strategic governance tools," Journal of Business Research, Elsevier, vol. 135(C), pages 816-828.
    12. Nguyen, Quyen T.K. & Kim, Sylvia, 2020. "The multinationality and performance relationship: Revisiting the literature and exploring the implications," International Business Review, Elsevier, vol. 29(2).
    13. Sjoerd Beugelsdijk & Tatiana Kostova & Vincent E. Kunst & Ettore Spadafora & Marc van Essen, 2018. "Cultural Distance and Firm Internationalization," Post-Print hal-02312065, HAL.
    14. Galan, Jose I. & Gonzalez-Benito, Javier, 2006. "Distinctive determinant factors of Spanish foreign direct investment in Latin America," Journal of World Business, Elsevier, vol. 41(2), pages 171-189, June.
    15. Jiang, Guoliang F. & Holburn, Guy L.F. & Beamish, Paul W., 2016. "The spatial structure of foreign subsidiaries and MNE expansion strategy," Journal of World Business, Elsevier, vol. 51(3), pages 438-450.
    16. Enderwick, Peter & Buckley, Peter J., 2019. "Beyond supply and assembly relations: Collaborative innovation in global factory systems," Journal of Business Research, Elsevier, vol. 103(C), pages 547-556.
    17. Oh, Chang Hoon & Kim, Minyoung & Shin, Jiyoung, 2019. "Paths and geographic scope of international expansion across industries," International Business Review, Elsevier, vol. 28(3), pages 560-574.
    18. Andrea Coveri & Antonello Zanfei, 2023. "Who wins the race for knowledge-based competitiveness? Comparing European and North American FDI patterns," The Journal of Technology Transfer, Springer, vol. 48(1), pages 292-330, February.
    19. Ergin Akalpler & Hemn Adil, 2017. "The impact of foreign direct investment on economic growth in Singapore between 1980 and 2014," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 7(3), pages 435-450, December.
    20. Mark Casson, 2018. "The Theory of International Business: The Role of Economic Models," Management International Review, Springer, vol. 58(3), pages 363-387, June.

    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:pal:jintbs:v:51:y:2020:i:9:d:10.1057_s41267-020-00355-5. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    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.