Introduction

2017 ◽  
Author(s):  
Angela Penrose
Keyword(s):  
Developing Countries ◽  
International Business ◽  
Global Economy ◽  
Multinational Enterprises ◽  
Professor Emeritus ◽  
Nation States ◽  
The 1950S ◽  
1960S And 1970S ◽  
National Governments ◽  
Edith Penrose

In 1994 the Academy of International Business elected Edith Penrose an Emeritus Distinguished Fellow of the Academy—an honour only bestowed once before, on Charles Kindleberger. Her distinctive contribution was singled out in two areas; the theory of the growth of the firm and the understanding of the interface between the strategies and activities of international and multinational enterprises and the nation states—particularly the developing countries—in which they operated. The first topic engaged her in the 1950s and early 1960s, the latter in the later 1960s and 1970s. These topics led on to a third; the implications for firms and national governments of the emergence of a more liberalized and closely integrated global economy, which she addressed as a professor emeritus in the 1980s and early 1990s. Her major contribution to the field of economics was ...

No Ordinary Woman

2017 ◽  
Author(s):  
Angela Penrose
Keyword(s):  
Public Service ◽  
Knowledge Creation ◽  
Multinational Enterprises ◽  
Oil Industry ◽  
Major Influence ◽  
Business Enterprise ◽  
Her Family ◽  
Business Studies ◽  
Nation States ◽  
Edith Penrose

Edith Penrose was a creative thinker, a distinguished economist, and an inspirational teacher who profoundly challenged the prevailing orthodoxy in several fields, including micro-economics, business studies, and development economics. Her major contribution to the field of economics was The Theory of the Growth of the Firm (1959), now regarded as a classic that has ‘inspired thinking in strategy, entrepreneurship, knowledge creation, and innovation’. Edith Penrose’s approach to explaining the nature of the firm, her fundamental insights, and the concepts she developed are still being applied and extended to new fields of enquiry. She has had a major influence on the study of the business enterprise and, some argue, the economy itself. She had a distinguished academic and public service career and wrote over 100 books and articles, many of which are devoted to the understanding of the interface between the strategies and activities of multinational enterprises, including the oil industry, and the nation states—particularly the developing countries—in which they operated. This is the first biography of Edith Penrose drawing on unpublished diaries and letters, the personal memories of her family, friends, and colleagues, and describes her eventful life, her extensive output, and influence. The book tells her personal and professional story, weaving through the extraordinary upheavals of the twentieth century in which she played a part. The book builds a picture of a vital, energetic woman who lived life to the full, defied convention, made an impression on all who met her, and left a significant intellectual legacy.

Outward Foreign Direct Investment from India: A Comparative Analysis

2020 ◽  
pp. 355-362
Keyword(s):  
Developing Countries ◽  
Foreign Direct Investment ◽  
Comparative Analysis ◽  
Direct Investment ◽  
Global Economy ◽  
Multinational Enterprises ◽  
Series Data ◽  
Outward Foreign Direct Investment ◽  
Outward Fdi ◽  
Data Set

The outward foreign direct investment (OFDI) is an important vehicle through which the multinational enterprises (MNEs) expand their global business. Before the initiation of the liberalisation measures, India was more of a recipient than a contributor of foreign direct investment in the global economy. led to an astounding The ongoing liberalisation measures embarked in 1991 growth of outward FDI in India. This study performed a comparative analysis of the outward FDI from India during the post-liberalisation period (1992 to 2018) using a time series data set collected from the UNCTAD. The analysis revealed that the outward FDI from India was increasing faster than the inward FDI, both in terms of FDI stock as well as FDI flows, in the post-liberalisation period. At the same time, growth of outward FDI from India was much faster than that from the developing countries and from the world; therefore, the share of India in the global outward FDI and in the outward FDI from developing countries has been steadily increasing. This reflected the growing presence of Indian multinational enterprises (MNEs) in the global economy in the post-liberalisation period.

scholarly journals Open for business in a closed world? Managing MNE nonmarket strategy in times of populism and geopolitical uncertainty

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
George O. White III ◽  
Tazeeb Rajwani ◽  
Thomas C. Lawton
Keyword(s):  
International Business ◽  
Global Economy ◽  
Multinational Enterprises ◽  
Multinational Enterprise ◽  
Special Issue ◽  
Global Risk ◽  
Content Type ◽  
Nonmarket Strategy ◽  
Closed World ◽  
Nonmarket Strategies

Purpose This paper aims to consider how multinational enterprises are increasingly augmenting their international strategies with insights on, and approaches to, external stakeholders and nonmarket dynamics. The rise of populism and increased geopolitical uncertainty have accelerated these efforts, particularly for business leaders anticipating and engaging external agents, events, and issues that challenge the strategic objectives of their enterprises. Design/methodology/approach This paper aims to explain why the increased preponderance of populism and geopolitical uncertainty are simultaneously posing an existential threat to the post-Cold War global economy predicated on free trade and (relatively) open borders, and consequently, challenging the structures and strategies of international business. Findings We provide an overview of the four papers in our special issue, and consider how each advances insights on how multinational enterprises effectively navigate the nonmarket uncertainties of the contemporary global economy. We then advance four important areas for international business research around multinational nonmarket strategies: (i) resilience and legitimacy; (ii), diversification; (iii), market and nonmarket strategy integration; and (iv), institutional arbitrage. Research limitations/implications We anticipate that nonmarket strategy scholars can build on these themes to assess how nonmarket strategies can better enable multinational enterprises to survive and thrive in an age of heightened global risk and uncertainty. Originality/value This paper and the related special issue provide new theoretical insights by bringing attention to the relatively under-researched realm of multinational enterprise nonmarket strategy, particularly in populist contexts and during periods of geopolitical uncertainty. We identify four promising domains – resilience and legitimacy, diversification, the integration of market and nonmarket strategy, and institutional arbitrage – for international business scholars investigating nonmarket strategy to consider. We hope that our paper, as well as other papers in this special issue, provide further momentum to this growing area of research.

Rising Inequality in the New Global Economy

2006 ◽  
pp. 84-89 ◽  
Author(s):  
N. Birdsall
Keyword(s):  
Developing Countries ◽  
Global Economy ◽  
Slow Growth ◽  
Global Markets ◽  
Modern World ◽  
Government Programs ◽  
Poor Countries

Reasons of high inequality in the modern world are considered in the article. In developing countries it interacts with underdeveloped markets and inefficient government programs to slow growth, which in turn slows progress in reducing poverty. Increasing reach of global markets makes rising inequality more likely and deepens the gap between rich and poor countries. Because global markets work better for the already rich, we should increase the representation of poor countries in global fora.

INTERNATIONAL BUSINESS IN THE CONDITION OF THE CORONA-CRISIS

2017 ◽  
Author(s):  
Karina Pasulka ◽  
◽  
Nataliya Kushnir ◽  
Keyword(s):  
International Business ◽  
Global Economy ◽  
German Economy ◽  
Italian Economy ◽  
The World

Introduction. The situation in the global economy and business during the COVID-19 pandemic is analyzed in this article. More than 30 million people worldwide have already been infected with the coronavirus, which came from China. However, the spread of the disease has also had an extremely serious impact on the economies of various countries in the world. The Organization for Economic Co-operation and Development has already said that it will take many years for the world to recover from the pandemic. EU GDP in the second quarter of 2020 showed a record decline - 14.4% year on year. The German economy returned to the level of 2011, the Spanish - in 2002, and the Italian economy was rejected in the early 1990s. These and other characteristics show the importance of research on this topic and problem, because it does not apply to a particular region or a particular country, but the whole world.

Structural Transformation and Inclusive Growth

2018 ◽  
Author(s):  
Andy Sumner
Keyword(s):  
Structural Transformation ◽  
Global Economy ◽  
Focal Point ◽  
Import Substitution ◽  
National Development ◽  
Inclusive Growth ◽  
1960S And 1970S ◽  
The 1960S ◽  
The One ◽  
Import Substitution Industrialization

This chapter reviews currents in theory with a focus on modernization and neoclassical statements of comparative advantage on the one hand, and structuralism, dependency, and other theories of underdevelopment on the other. The latter theories of underdevelopment hit their zenith in the policies of the import-substitution industrialization of the 1960s and 1970s. They were largely dismissed in the 1980s as the limits of import-substitution industrialization became apparent and as East Asia industrialized, undermining any argument that structural transformation was problematic in the periphery. This chapter theorizes that neither orthodox nor heterodox theories of structural transformation adequately explain the development of late developers because of the heterogeneity of contemporary capitalism. That said, heterodox theories, which coalesce around the nature of incorporation of developing countries into the global economy, do retain conceptual usefulness in their focal point, ‘developmentalism’, by which we mean the deliberate attempts at national development led by the state.

scholarly journals Problems of the preliminary customs informing system and the introduction of the Single Window at the sea check points of the Russian Federation

2018 ◽  
Vol 239 ◽  
pp. 04004 ◽  
Author(s):  
Svetlana Maydanova ◽  
Igor Ilin
Keyword(s):  
Developing Countries ◽  
International Trade ◽  
Russian Federation ◽  
International Organizations ◽  
International Standards ◽  
Eurasian Economic Union ◽  
Check Points ◽  
The Russian Federation ◽  
Economic Union ◽  
National Governments

The Single Window concept in the international trade and logistics has been explored by international organizations and national governments over the last two decades. International standards and recommendations, government decisions on this approach are widespread today in both developed and developing countries. Similar decisions and legal acts were implemented during the last ten years by the Russian Federation, as a member of the Eurasian Economic Union. This article provides overview of the following coherent stage – the implementation of preliminary customs informing system at sea check points of the RF with concerns of the Single Window introduction.

scholarly journals Creating Destinations for a Better Tomorrow: UN Development Aid for Cultural Tourism in the 1960s

2021 ◽  
pp. 002200942097476
Author(s):  
Marie Huber
Keyword(s):  
Developing Countries ◽  
Development Aid ◽  
Employment Sector ◽  
Development Decade ◽  
Colonial Legacies ◽  
The Subject ◽  
1960S And 1970S ◽  
The 1960S ◽  
International Experts

Tourism is today considered as a crucial employment sector in many developing countries. In the growing field of historical tourism research, however, the relationships between tourism and development, and the role of international organizations, above all the UN, have been given little attention to date. My paper will illuminate how during the 1960s tourism first became the subject of UN policies and a praised solution for developing countries. Examples from expert consultancy missions in developing countries such as Ethiopia, India and Nepal will be contextualized within the more general debates and programme activities for heritage conservation and also the first UN development decade. Drawing on sources from the archives of UNESCO, as well as tourism promotion material, it will be possible to understand how tourism sectors in many so-called developing countries were shaped considerably by this international cooperation. Like in other areas of development aid, activities in tourism were grounded in scientific studies and based on statistical data and analysis by international experts. Examining this knowledge production is a telling exercise in understanding development histories colonial legacies under the umbrella of the UN during the 1960s and 1970s.

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