Nostalgia is not what it used to be: heritage films,nostalgia websites and contemporary consumers

Nostalgia is not a singular phenomenon; it is multi-layered, diversely experienced and variously exploited, as I demonstrate by briefly outlining the history of nostalgia, especially the recent shift from modern to post-modern versions of the experience. The modern, temporal version of nostalgia is founded on the unattainable distance between the past and the present; the post-modern, atemporal version erases this sense of distance. Central to the modern concept of nostalgia is the experience of wistfulness, a hopeless longing for something lost and irrecoverable. But for post-modern nostalgics, the irrecoverable is now attainable, the difference between past and present flattened out. This is partly because post-modern nostalgia re-cycles images, objects and styles associated with the relatively recent past, a prime site of such re-cycling being the Internet. I therefore look at a range of websites that use nostalgia as a central concept in their marketing and which demonstrate some of these recent shifts in the experience of nostalgia. In the final part of this article, I explore these concerns in relation to the reception of four films about the English, past released in the 2000s: Ladies in Lavender (2004), Becoming Jane (2007), Brideshead Revisited (2008) and An Education (2009). How are films mobilised for nostalgic purposes at the levels of production, marketing and consumption? How is an experience of the past built into these films? Are some of the resulting images, sounds and pasts more resistant to nostalgic uses than others? Are these films discussed by audiences in terms of nostalgia? If so, is this is a positive or negative experience? Ranging in this way across a variety of material, my article is an attempt to bring together cultural history, conceptual, formal analysis and the analysis of reception or consumption.     

Apartheid and business: Competition,monopoly and the growth of the malted beer industry in South Africa

The South African brewing industry experienced enormous growth in the apartheid era, following the lifting of prohibition on the sale of ‘European liquor’ to Africans in 1961. Successive international brewers and local entrepreneurs sought to benefit from increased demand in the 1970s but were unable to withstand competition from South African Breweries (SAB), the dominant player in the industry. A decade of intense competition in the brewing industry ended with the intervention of the cabinet of the Afrikaner Nationalist government. SAB's status as ‘sole supplier to the industry’ remained virtually unchallenged until the demise of apartheid and the end of South Africa's international isolation. The end of apartheid and changes in the global brewing industry brought renewed competition to the South African beer market in the late 1990s and early 2000s.     

Removing the rough edges? Nostalgia and storytelling at a UK museum

This paper offers a practitioner's viewpoint of the new Riverside Museum in Glasgow and discusses its successful transition to a new building and location. The role of nostalgia in the museum's appeal through storytelling and collective memory is discussed and shown to be an important element in this success. This paper also highlights the museum's efforts to avoid sanitisation of the past in how it presents this history and argues that the use of nostalgia should not be to just present a rose-tinted selective version of what was past, but rather to present as complete and truthful a representation as possible.     

Romancing the past: Heritage visiting and the nostalgic consumer

Over the past decade, there has been growing interest in nostalgia and consumption experiences on the part of a small group of consumer researchers. This article offers an insight into the nostalgic experiences gained through consuming history at a contemporary British “living” museum. The findings of the research focus on two types of nostalgic behavior, which are identified as existential and aesthetic. Differences in the nostalgic reaction are conceptualized in relation to such factors as the quantity and quality of the individual's role repertoire, the experience of alienation in the present, and the extent and quality of social contact. The article aims to offer a perspective that draws upon both existing work in related fields and the findings of the research in order to contextualize nostalgia as an experiential factor behind the consumption of recreated history in the living interactive museum. © 2001 John Wiley & Sons, Inc.     

The leverage of foreigners: Multinationals in South Africa

This article argues that foreign multinational corporations (MNCs) in South Africa cannot evade an ethical choice, how best to exercise their leverage against apartheid? Disinvestment is only one, ambiguous option. MNCs need clear ethical goals and an effective strategy. Both arise from the political economy of the MNC (1). It involves 3 relationships, between the MNC parent and its subsidiary; the MNC home society and host society; and the MNC home state and host state. That political economy explains the MNC's dependency (1a) and modernization effects (1b). Those effects give foreigners some leverage against apartheid; but an effective and ethical MNC strategy is needed (2). It involves four goals: dismantling apartheid, a mixed economy, full democracy, and a negotiated peace (2a). It suggests a sequence of MNC/home state options from Do Nothing or Divest to More Corporate Activism, Home State Support, and International Sanctions (2b). But victory is not around the corner; rather, we are all condemned to freedom.     

A New Measure of Trade Openness

Trade openness, popularly measured as (X + M)/GDP in the hundreds of studies published to date, consistently considers the world's biggest trading countries such as the USA, the UK, Japan and Germany to be closed economies, irrespective of the data set used. This study suggests a composite trade share measure that more completely reflects reality by combining two important dimensions of trade openness: trade share and the relative importance of a country's trade level to total world trade. Robustness tests support the new proposed measure in lieu of the conventional measure of openness and suggest that the latter may not only be incomplete but may also overstate the impact of trade on such things as income and the environment.     

FOREIGN TRADE AND THE EXCHANGE RATE IN BOTSWANA

Botswana is a success story of exceptional economic performance, sound development management, and good governance. A great deal of that success can be attributed to the country's export performance and the avoidance of the 'Dutch Disease' syndrome that has plagued other natural resource based African countries. This article documents and analyzes Botswana's trade and exchange rate relationship, during the past two decades, in the context of the country's economic performance, and examines the related issue of the value of the country's currency to determine whether it is overvalued or undervalued.     

An Empirical Investigation of the Differential Effects of Personal,Historical, and Non-Nostalgic Advertising on Consumer Responses

Using a theory-driven approach, this study investigates whether and/or to what extent consumers' informationprocessing tendencies and ad-based responses are differentially influenced by the introduction of nostalgic cues (either "personal" or "historical" in nature) embedded in an advertisement. The results support hypothesized expectations that personal nostalgia (a yearning for one's past) generally outperforms both historical and non-nostalgic advertising when measures of self-directed thoughts, positive affect, and attitude toward the ad are considered. However, when cognitive measures (i.e., brand/message-related cognitive responses and message recall) are considered, a personally nostalgic ad is shown to be comparable to a historical nostalgic ad, but inferior to a non-nostalgic ad. Regression results utilizing cognitive response data further indicate that individuals' brand attitudes are differentially influenced by the type of nostalgia evoked. Practical and theoretical implications for the study's findings are discussed, and future research directions are presented.     

The Chinese business system and its authoriliberal economic model

China's position as one of the most powerful nations in the world is undisputed. However, in an evolving landscape, China's utilization of a path-dependent business system may hinder the ability of the country's institutions to undergo necessary change, which will have important implications for international business literature. Through business system theory, empirical evidence, and a mixed methods approach, we discuss China's business system explaining how the system may impair sustainable growth and the transformation required by a less dependent industrial society. Our research suggests that the Chinese business system is still very arrested due to its recent past, and the Chinese Communist Party has only partial interest in improving some of the most important bases for the development of modern enterprises, even if fostering a somewhat liberal economic approach. Since similar political (authoritarian) and economic (liberal) approaches are found elsewhere, we theorize on what we called an authoriliberal economic approach.     

Foreign Direct Investment in Africa: The Role of Natural Resources,Market Size,Government Policy,Institutions and Political Instability

Data from several investor surveys suggest that macroeconomic instability, investment restrictions, corruption and political instability have a negative impact on foreign direct investment (FDI) to Africa. However, the relationship between FDI and these country characteristics has not been studied. This paper uses panel data for 22 countries over the period 1984–2000 to examine the impact of natural resources, market size, government policies, political instability and the quality of the host country's institutions on FDI. It also analyses the importance of natural resources and market size vis‐à‐vis government policy and the host country's institutions in directing FDI flows. The main result is that natural resources and large markets promote FDI. However, lower inflation, good infrastructure, an educated population, openness to FDI, less corruption, political stability and a reliable legal system have a similar effect. A benchmark specification shows that a decline in the corruption from the level of Nigeria to that of South Africa has the same positive effect on FDI as increasing the share of fuels and minerals in total exports by about 35 per cent. These results suggest that countries that are small or lack natural resources can attract FDI by improving their institutions and policy environment.     

Development and validation of the Personal Nostalgia Scale

This research conducts five studies and uses 1185 respondents to develop and validate a six-item, seven-point Likert scale capable of measuring a personal nostalgia response to an advertisement. Traditional forms of scale development and a variety of experimental conditions are undertaken to develop and validate the scale. Statistical techniques include t-tests, correlation, regression, confirmatory factor analysis and a multitrait–multimethod matrix. This research fulfils a significant gap in the current knowledge as the current scales neither distinguish between the distinct types of nostalgia nor measure personal nostalgia as a response to advertising independently of other reactions. This is despite personal nostalgia being considered as a distinct form of nostalgia with a suggested differing influence on a number of important consumer behaviour responses. The scale has implications for researchers undertaking future studies exploring personal nostalgia's influence on consumer behaviour reactions. Nostalgia is also a commonly used and has effective advertising appeal, and this research provides practitioners with a parsimonious instrument to measure the level of personal nostalgia experienced as a result of advertising exposure. This assists in ensuring accuracy when predicting consumer reactions.     

Brazil Post‐Lula: Challenges and Opportunities Facing the Brazilian Business Environment

The Brazilian economy indicates great potential for future economic growth. An increasing and affluent middle class, expanding exports, and foreign reserves are testimonies of Brazil's recent accomplishments. The country, however, still faces a number of challenges that may compromise its sustainable long‐term economic goals and objectives. This article focuses on the Luiz Inacio “Lula” da Silva government's economic performance. The article's main findings show increasing bottlenecks being created as a result of the Lula government's eight years of low economic growth rates, which have penalized the country's competitiveness. The newly elected president, Dilma Rousseff, will inherit a substantial investment deficit in the areas of infrastructure, education, health care, research and development (R&D), and innovation, as well as Brazil's worst public debt/gross domestic product (GDP) ratio in the past 100 years. These conditions will prevent Brazil from growing and developing at faster rates. This article also elaborates on Dilma Rousseff's most recent statements and discusses likely future paths for the Brazilian economy. © 2012 Wiley Periodicals, Inc.     

Concerns About Advertising Practices in a Developing Country: An Examination of China's New Advertising Regulations

This article examines China's 1993 Interim Regulations on the Advertising Agency System and Interim Advertising Censorship Standards as reflections of a developing country's concerns over advertising practices. Four issues facing a developing country such as China are identified: (1) The influence of foreign advertising practices on the domestic advertising industry; (2) the urge to speed up the learning process of advertising skills and know-how; (3) the threat of advertising to the indigenous culture; and (4) the government's authoritarian role in maintaining order. The new regulations are conceived as the Chinese government's remedies to these issues. The article concludes with a discussion on the enforcement problems and consequences of the regulations on China's advertising industry.     

The volatility effect of diaspora's location

Remittances can transmit volatility from host to home countries for some common patterns of diaspora's geographical distribution. In a migration portfolio model, the overall risk of volatility of any set of diaspora location is decomposed into a contagion and a concentration risks: a diaspora located in more volatile destinations induces a higher contagion risk, while a diaspora located in few destination countries increases the concentration risk. A series of estimations on a large panel of developing countries over 1995–2015 provide evidence for these two risks. Estimation of a structural model confirms that the geography of diaspora has an indirect impact on the origin country's aggregate instability through remittances.     

Dumping in a product differentiated reciprocal trade industry emitting global pollution

By modeling an international industry where developed and developing countries’ firms reciprocally trade differentiated goods under global pollution and the incomplete internalization of the pollution externality, we examine the firms’ dumping and anti-dumping duty (ADD). We assume that the product quality, pollution emissions, and consumer's pollution internalization are worse in the developing country. We find, among others, that the developing country's firm always conducts dumping, but the developed country's firm only does so under a certain condition and that if the two countries’ internalization degrees of the pollution externality are the same, the firms’ dumping disappears, regardless of product qualities and units of pollution emissions. We also show that a rise in the developed (developing) country's ADD decreases (increases) global pollution and that a rise in a country's ADD always decreases its rival country's welfare, but there is the possibility that it also reduces its own welfare in a certain case.     

Modeling a country's political environment using dynamic factor analysis (DFA): A new methodology for IB research

Political uncertainty generates non-trivial costs for business, resulting in suboptimal decision-making and suppression of economic activity. Managing political uncertainty and attaining greater accuracy in risk analysis of a country's political environment remain a challenge. Our research attempts to fill this gap by re-directing scholarly attention from the questions of what and why to how political uncertainty and political risks can be identified and assessed by (1) offering a process-based theoretical framework of a country's political environment that explicitly incorporates its dynamic structure; and (2) proposing a new methodological framework based on DFA to empirically estimate it. We demonstrate how DFA enables evaluating the country's political environment, in terms of: (1) complexity of the political environment, (2) potency (or importance) of the dimensions of the political environment; (3) stability of the political environment, and (4) nomological validity of the model. To demonstrate the application of this methodology, we analyze Brazil's political environment for the period 1984–2018 using monthly political risk time-series data. The paper then maps Brazil's political environment using political science scholarship with our empirical results triangulating the insights. The final section discusses contributions to research on political risk in IB as well as the methodological challenges and opportunities of using DFA.     

Circular or angular? How nostalgia affects product shape preference

As an important marketing strategy, nostalgia marketing is widely used by enterprises to attract consumers and influence their decision-making. Besides, feelings of nostalgia can be easily elicited in people's daily life and exert a great impact on them. Though the effect of nostalgia on consumer behavior has been extensively studied, whether and how nostalgia affects consumer preference for products with certain visual designs remain underexplored. Our research extends this domain by focusing on product shape preference as a new downstream consequence of nostalgia. Five studies (including one field experiment) demonstrate that nostalgia can increase consumer preference for circular-shaped products, with social connectedness as the underlying driver. Moreover, the indirect effect of nostalgia on circular shape preference via social connectedness is moderated by consumers' current social connections, such that the effect holds true for consumers with a low number of current social connections but is eliminated for those with a high number of current social connections. Together, marketers seeking to increase the sales of circular-shaped products may use nostalgic elements or cues in marketing campaigns.     

Does Brain Drain Lead to Institutional Gain?

A country's endowment of human capital affects its institutions through various channels. This raises the possibility that skilled emigration can leave its mark on a country's institutional development. We explore the impact of emigrant human capital on home country's institutional quality. Using geographical and genetic distance‐based instrumental variables for emigration and a dynamic panel estimation method, we find that human capital emigration helps the home country's political institutions, but hurts economic institutions. The conventional ‘brain drain’ argument, therefore, needs to incorporate the institutional changes due to skilled labour emigration.     

The World Is Watching: Polaroid and South Africa

This article examines the Polaroid Corporation’s "experiment"in South Africa during the 1970s, which began after AfricanAmerican workers pressured the company to pull its operationsout of South Africa in protest of the white minority government’sapartheid policies. It argues that Polaroid’s initiatives,little studied until now, led other American companies to questiontheir presence in South Africa and inspired both student divestmentmovements at Harvard and other colleges and universities andthe efforts of Leon Sullivan, whose 1977 "Sullivan Principles"urged American companies to treat their workers in South Africaas they would treat their counterparts in the United Statesin an effort to battle racism and apartheid. Despite Polaroid’sefforts, engagement with South Africa and apartheid proved futile,which initiated a larger movement to completely disengage fromSouth Africa.     

Quid pro quo and the enforcement of intellectual property rights protection: A bargaining approach

This article models a North–South negotiation where the North provides a quid pro quo in exchange for the strengthening of the enforcement of intellectual property rights (IPR) protection in the South. We show that when Northern and Southern firms compete on quantity in the Southern market, the South's optimal choice is either complete protection or complete violation, irrespective of different levels of IPR protection being available. We show this to depend on the Southern government's valuation of the quid pro quo and the Northern firm's level of technology.