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The theory and empirics of the structural reshaping of globalization

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  • 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
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    2. 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.
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    6. 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.
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    9. 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).
    10. Matevž Rašković, 2022. "International business policymaking for a “wicked” world," Journal of International Business Policy, Palgrave Macmillan, vol. 5(3), pages 353-362, September.
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    12. 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.
    13. 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).
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    15. 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).

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