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INTERNATIONAL BUSINESS AND DEVELOPMENT ECONOMICS: A WINNING COMBINATION Generating a World???s View based on Buckley and Casson and Hirschman???s Books

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  • Tamir Agmon

Abstract

Much of the discussion in economics is concerned with growth. Economic growth can be discussed and measured in terms of a national state. It can be also discussed and measured in terms of a corporation, (often using the term value rather than growth). Development Economics is concerned with growth of countries run by governments; International Business is concerned with the behavior and the value of multinational enterprises run by management. This paper is about the interface between the two. The vehicle used in this paper to explore the interface is a comparative analysis between two very influential books; ???The Strategy of Development??? by Hirschman, (1958), and the ???Future of the Multinational Enterprise??? by Buckley and Casson, (1976). The main argument of the paper is that Development Economics and International Business do approach a very similar issue, but they do it from two different dimensions perpendicular to each other. Looking at the whole picture, (the matrix as a whole rather than along the two separate vectors), gives the observer a more meaningful picture. This is done in the paper through a critical comparison of the two texts focusing on the two dimensions on internalization, growth and internalization, investment choices and strategies, and multinational enterprises and the dynamics of development.

Suggested Citation

  • Tamir Agmon, 2004. "INTERNATIONAL BUSINESS AND DEVELOPMENT ECONOMICS: A WINNING COMBINATION Generating a World???s View based on Buckley and Casson and Hirschman???s Books," William Davidson Institute Working Papers Series wp725, William Davidson Institute at the University of Michigan.
    • Handle: RePEc:wdi:papers:2004-725
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    More about this item

    Keywords

    Development Strategy; International Business Theory;

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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