IDEAS home Printed from https://ideas.repec.org/a/kap/asiapa/v39y2022i3d10.1007_s10490-021-09757-x.html
   My bibliography  Save this article

Assessing the Belt and Road Initiative as a narrative: Implications for institutional change and international firm strategy

Author

Listed:
  • Tomas Casas-Klett

    (University of St. Gallen)

  • Jiatao Li

    (Hong Kong University of Science and Technology)

Abstract

This article explores the role of narratives as drivers that guide the institutional change associated with globalization and deglobalization. For China’s Belt and Road Initiative (BRI) to succeed as a driver of institutional change in favor of globalization, it must pass the narrative “virality” test and successfully contend with competing narratives. Rival narratives will be launched by firms and organizations worldwide that expect to win or lose from deglobalization or from new forms of globalization. This study develops a useful framework for establishing the extent to which China’s BRI is a genuine narrative or just a story. In this regard, four testable propositions are put forth to ascertain whether the BRI is values-based, extends an invitation to participate, is open-ended, and is associated with economic performance for both Chinese and non-Chinese participants. The analysis of the BRI-related institutional change that leads to globalization applies a theoretical lens centered on the narrative economics perspective and on the institution-based view and political economy perspective. Implications for BRI stakeholders, international business practitioners, and international business scholarship are outlined.

Suggested Citation

  • Tomas Casas-Klett & Jiatao Li, 2022. "Assessing the Belt and Road Initiative as a narrative: Implications for institutional change and international firm strategy," Asia Pacific Journal of Management, Springer, vol. 39(3), pages 857-873, September.
    • Handle: RePEc:kap:asiapa:v:39:y:2022:i:3:d:10.1007_s10490-021-09757-x
    DOI: 10.1007/s10490-021-09757-x
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10490-021-09757-x
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10490-021-09757-x?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. Harold James, 2018. "Deglobalization: The Rise of Disembedded Unilateralism," Annual Review of Financial Economics, Annual Reviews, vol. 10(1), pages 219-237, November.
    2. Eero Vaara & Scott Sonenshein & David Boje, 2016. "Narratives as Sources of Stability and Change in Organizations : Approaches and Directions for Future Research," Post-Print hal-02313402, HAL.
    3. Peter Ping Li & En Xie, 2019. "The unique research on the informal ties and social networks in East Asia: Diverse perspectives and new research agenda," Asia Pacific Journal of Management, Springer, vol. 36(2), pages 305-319, June.
    4. Simone Salotti & Paola Rocchi & Jose Manuel Rueda-Cantuche & Inaki Arto, 2019. "Macroeconomic effects of US tariff on steel and aluminium: who would pay the bill?," JRC Research Reports JRC112036, Joint Research Centre.
    5. Niklas Potrafke, 2015. "The Evidence on Globalisation," The World Economy, Wiley Blackwell, vol. 38(3), pages 509-552, March.
    6. Benjamin Rosa & Philippe Gugler & Alain Verbeke, 2020. "Regional and global strategies of MNEs: Revisiting Rugman & Verbeke (2004)," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(7), pages 1045-1053, September.
    7. Christine Oliver, 1997. "Sustainable competitive advantage: combining institutional and resource‐based views," Strategic Management Journal, Wiley Blackwell, vol. 18(9), pages 697-713, October.
    8. Eero Vaara & Scott Sonenshein & David Boje, 2016. "Narratives as Sources of Stability and Change in Organizations : Approaches and Directions for Future Research," Post-Print hal-02276673, HAL.
    9. Shiller, Robert J., 2019. "Narratives about technology-induced job degradation then and now," Journal of Policy Modeling, Elsevier, vol. 41(3), pages 477-488.
    10. Peter A G van Bergeijk, 2018. "On the brink of deglobalisation…again," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 11(1), pages 59-72.
    11. Jones, Geoffrey, 2004. "Multinationals and Global Capitalism: From the Nineteenth to the Twenty First Century," OUP Catalogue, Oxford University Press, number 9780199272105.
    12. Mike W Peng, 2004. "Identifying the big question in international business research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 35(2), pages 99-108, March.
    13. Hillebrand Evan E, 2010. "Deglobalization Scenarios: Who Wins? Who Loses?," Global Economy Journal, De Gruyter, vol. 10(2), pages 1-21, May.
    14. Barry Naughton, 2007. "The Chinese Economy: Transitions and Growth," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262640643, December.
    15. Kari Polanyi-Levitt, 2012. "The Power of Ideas: Keynes, Hayek, and Polanyi," International Journal of Political Economy, Taylor & Francis Journals, vol. 41(4), pages 5-15.
    16. Robert J. Shiller, 2019. "Narratives About Technology-Induced Job Degradation Then and Now," Cowles Foundation Discussion Papers 2168, Cowles Foundation for Research in Economics, Yale University.
    17. David Ahlstrom, 2012. "On the types of papers the Asia Pacific Journal of Management generally publishes," Asia Pacific Journal of Management, Springer, vol. 29(1), pages 1-7, March.
    18. Li, Jiatao & Liu, Bin & Qian, Gongming, 2019. "The belt and road initiative, cultural friction and ethnicity: Their effects on the export performance of SMEs in China," Journal of World Business, Elsevier, vol. 54(4), pages 350-359.
    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. Jiatao Li & Ari Van Assche & Xiaolan Fu & Lee Li & Gongming Qian, 2022. "The Belt and Road Initiative and international business policy: A kaleidoscopic perspective," Journal of International Business Policy, Palgrave Macmillan, vol. 5(2), pages 135-151, June.

    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. Vyacheslav V. Volchik & Elena V. Fursa & Elena V. Maslyukova, 2021. "Public administration and development of the Russian innovation system," Upravlenets, Ural State University of Economics, vol. 12(5), pages 32-49, November.
    2. Rory McDonald & Cheng Gao, 2019. "Pivoting Isn’t Enough? Managing Strategic Reorientation in New Ventures," Organization Science, INFORMS, vol. 30(6), pages 1289-1318, November.
    3. Hadjielias, Elias & Christofi, Michael & Tarba, Shlomo, 2021. "Knowledge hiding and knowledge sharing in small family farms: A stewardship view," Journal of Business Research, Elsevier, vol. 137(C), pages 279-292.
    4. Jeffrey S. Bednar & Benjamin M. Galvin & Blake E. Ashforth & Ella Hafermalz, 2020. "Putting Identification in Motion: A Dynamic View of Organizational Identification," Organization Science, INFORMS, vol. 31(1), pages 200-222, January.
    5. J. Laine, Lauri & Kibler, Ewald, 2018. "Towards a mythic process philosophy of entrepreneurship," Journal of Business Venturing Insights, Elsevier, vol. 9(C), pages 81-86.
    6. Alperen Manisaligil & Ummugulsum Aysan, 2022. "Sustainability Narratives: A Social Constructivist Perspective on Interorganizational Projects," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 72(72-2), pages 1001-1024, December.
    7. Mukta Kulkarni, 2024. "Narrating a Prototypical Disabled Employee," Journal of Business Ethics, Springer, vol. 189(4), pages 781-796, February.
    8. Natalya Sergeeva & Johan Ninan, 2023. "Comparisons as a discursive tool: shaping megaproject narratives in the United Kingdom," Policy and Society, Darryl S. Jarvis and M. Ramesh, vol. 42(2), pages 197-211.
    9. Ilkka Tuomi, 2019. "Chronotopes of foresight: Models of time‐space in probabilistic, possibilistic and constructivist futures," Futures & Foresight Science, John Wiley & Sons, vol. 1(2), June.
    10. Georg Graetz, 2019. "Labor Demand in the Past, Present, and Future," European Economy - Discussion Papers 114, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    11. Teea Palo, 2023. "The Emergence of Concerned Partnerships in the Ethical Marketization of Place: A Narrative Lens," Journal of Business Ethics, Springer, vol. 184(4), pages 835-854, May.
    12. Noella Edelmann & Ines Mergel, 2021. "Co-Production of Digital Public Services in Austrian Public Administrations," Administrative Sciences, MDPI, vol. 11(1), pages 1-21, February.
    13. Schuler, Benedikt Alexander & Orr, Kevin & Hughes, Jeffrey, 2023. "My colleagues (do not) think the same: Middle managers’ shared and separate realities in strategy implementation," Journal of Business Research, Elsevier, vol. 160(C).
    14. Srivastava, Smita & Oberoi, Swati & Gupta, Vishal K., 2023. "The story and the storyteller: Strategic storytelling that gets human attention for entrepreneurs," Business Horizons, Elsevier, vol. 66(3), pages 347-358.
    15. Yuliya Snihur & Llewellyn D. W. Thomas & Raghu Garud & Nelson Phillips, 2022. "Entrepreneurial Framing: A Literature Review and Future Research Directions," Entrepreneurship Theory and Practice, , vol. 46(3), pages 578-606, May.
    16. Plotnikof, Mie & Pedersen, Anne Reff, 2019. "Exploring resistance in collaborative forms of governance: Meaning negotiations and counter-narratives in a case from the Danish education sector," Scandinavian Journal of Management, Elsevier, vol. 35(4).
    17. Liisa Välikangas & Marijane Luistro-Jonsson & Sirkka L. Jarvenpaa, 2022. "Health crisis and the EU’s HERA: amplifying partial organizing with resourcing for stability, agility, and evolvability," Journal of Organization Design, Springer;Organizational Design Community, vol. 11(4), pages 169-187, December.
    18. Castelló, Itziar & Barberá-Tomás, David & Vaara, Eero, 2023. "Moving on: Narrative identity reconstruction after entrepreneurial failure," Journal of Business Venturing, Elsevier, vol. 38(4).
    19. Das, Gouranga Gopal & Marjit, Sugata & Kar, Mausumi, 2020. "The Impact of Immigration on Skills, Innovation and Wages: Education Matters more than where People Come from," Journal of Policy Modeling, Elsevier, vol. 42(3), pages 557-582.
    20. Amankwah-Amoah, Joseph & Zhang, Hongxu, 2015. "Business failure research," MPRA Paper 67848, University Library of Munich, Germany.

    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:kap:asiapa:v:39:y:2022:i:3:d:10.1007_s10490-021-09757-x. 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.springer.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.