Economic and sociopolitical determinants of exchange controls

The objective of this study is to explore the feasibility of identifying factors that could presage the imposition of exchange controls. Two sets of variables are argued to contain pertinent information regarding the imposition of controls. One set is composed of 14 economic ratios related to the balance of payments and exchange rate; the other set is made up of 17 proxy measures of sociopolitical instability. The empirical analysis of exchange controls imposed by 13 governments during 1973–1983 shows that these variables have potential for predicting the imposition of exchange controls.     

The globalization of telcos: A normative view

As global forces are penetrating the local telephone markets, the authors argue that telcos are global by virtue of operating in such markets. The foreign expansion should aim at strengthening the home market's overall competitive position. Consequently, the strategic core needs to be clearly identified and offshore markets developed according to whether they are vital, critical, or only peripheral to the company's home base interests. Strategic anarchy must evolve into strategic hierarchy. © 1996 John Wiley & Sons, Inc.     

The overselling of globalization

Globalization was oversold. Politicians and some economists wrongly argued for trade agreements on the basis of job creation. The gains to GDP or growth were overestimated, and the costs, including adverse distributional effects, were underestimated. There have been important political consequences of this overselling, including the undermining of confidence in the elites that advocated globalization. The failures of globalization and the misguided backlash against it contain many lessons: about the importance of science and learning in society, the importance of the shared acceptance of facts, the dangerous consequences of deliberately misinforming the public, and the folly of ignoring the distributional consequences of economic forces just because they may lead to growth. The new protectionism advocated by the administration of Donald Trump will only worsen the plight of those already hurt by globalization. What is needed is a comprehensive system of social protection. After cataloguing the failures of globalization and explaining how they led to our current political mire, this paper outlines a set of policies that could put the economy and our politics back on a better path.     

The impact of globalization on HRM: the case of South Korea

Globalization can have far reaching implications for human resource management (HRM) and management practice in general. For some, globalization creates pressures for a common, often taken as ‘best’, transferable set of HRM practices that can spread around the world. These best practices are considered powerful enough to override existing systems. In contrast, others see national based HRM systems as more resilient, partly because of the systemic underpinnings of particular cultural and institutional milieu. Both views contain important implications and lessons. We outline these, a framework for viewing them and the case of HRM in South Korea to demonstrate the issues, contradictions and dilemmas and ways of thinking so that practitioners can make informed choices concerning HRM practices to develop competency enhancing HRM systems.     

Exporting Christianity: Governance and doctrine in the globalization of US denominations

In this paper we build a model of market competition among religious denominations, using a framework that involves incomplete contracts and the production of club goods. We treat denominations akin to multinational enterprises, which decide which countries to enter based on local market conditions and their own “productivity.” The model guides us in estimating how a denomination's religious doctrine and governance structure affect its ability to attract adherents. Using data on the foreign operations of US Protestant denominations in 2005 from the World Christian Database, we find that (1) denominations with stricter religious doctrine attract more adherents in countries in which the risk of natural disaster or disease outbreak is greater and in which government provision of health services is weaker, and (2) denominations with a decentralized governance structure attract more adherents in countries in which the pastor cost of connecting with congregants is lower. These findings illuminate factors shaping the composition of religion within countries, helping account for the rise of new Protestant groups. They also provide empirical evidence for the recent theoretical developments in organization and trade.     

The globalization of retailing: volumes I and II

As a form of crisis management, business continuity management (BCM) has evolved since the 1970s in response to the technical and operational risks that threaten an organisation's recovery from hazards and interruptions. This paper examines the development of business practices related to crisis management alongside the emergence of legislation, regulations and standards (drivers) requiring organisations to implement specific business continuity activities. From the resulting historical review, three distinct phases of management practice and four phases in the development of drivers are identified, revealing the influence of events over governance, the internationalisation of influence, and organisational resilience as a meta-institution.     

Deregulation and globalization of airlines

Although the airline industry has contributed to the globalization of the world economy, it is itself one of the least globalized sectors. This article identifies the governmental policies that have contributed to that outcome, and the economic and political forces that have gradually eroded regulatory barriers to competition and globalization in the last ten to fifteen years. Based on their airline industry policies in the mid-1990s, countries are classified as efficiency seekers (e.g., the United States), late reformers (e.g., Germany), and shelter providers (e.g., France), with the first embracing deregulation and globalization, the second adopting those policies somewhat slowly and reluctantly, and the third continuing to resist them in every possible way. Using Porter's “diamond” of international competitiveness, the article then explores the interaction of country characteristics and government policies to shape the competitiveness of U.S. and European airlines. The article concludes that, as a group, U.S. airlines are quite competitive, whereas in Europe the situation varies greatly between efficiency-seeking countries, such as the United Kingdom and the Netherlands, whose airlines have become very competitive, and shelter-providing countries, such as France, Italy, and Spain, whose airlines continue to be plagued by high costs and poor service. Because first-mover advantages can be significant as the airline industry globalizes, countries that postpone reforms are likely to find that the passage of time makes it harder to make their airlines internationally competitive, not merely in terms of cost but also in terms of nonprice dimensions, such as quality, service, and reliability.     

The globalization of Chinese enterprises

The question of how and why Chinese firms globalize is one of the most pressing issues for businesses today. China's globalization process is nothing less than remarkable. The twenty‐first century will feature a developing country as the leader of the global economy by 2020, when, by most estimates, China's purchasing power parity (PPP) gross domestic product (GDP) surpasses America's. With China's new role on the world's stage, global economic and political institutions are likely to change. China's foray into Latin America, for example, has changed the traditional role that America has played in its “backyard.” While the Chinese government was given much credit for China's globalization, Chinese private‐ and family‐owned businesses have also propelled China outward. Our research stream and annual China Goes Global conference at Harvard has attempted to frame the questions associated with China's globalization. This special issue is another important step in this direction. © 2012 Wiley Periodicals, Inc.     

加强全球化进程中社会管理的若干问题分析

我国在全球化进程中,新萌生的一些影响社会稳定的因素增多,改革发展更多地触及深层次的体制性问题,社会关系更加复杂化,不可避免地引发更多的问题和矛盾.我国的社会稳定正面临着新的考验.这必将对我国的社会管理提出新的要求.     

Ethical issues in the globalization of the knowledge economy

More and more people in China are now realizing that the country has already become a globalizing economy, but some contend that China's economy is still far from being based on knowledge. However, as globalization necessarily brings with it a knowledge economy, China is of necessity involved in the new economy, and has in consequence encountered many new ethical issues. In the first part of the paper some of these issues are discussed – issues of intellectual property protection, issues related to the exploitation of Chinese know-how and knowledge products by foreign companies, and issues of cultural colonization. These issues are complicated, widespread and novel, and there is a need to develop ethical guidelines to deal with these issues. Although the perspective of the analysis is Chinese, these same problems are faced by countries the world over.     

Marketing globalization: A didactic examination for corporate strategy

Recent empirical research suggests an appended explanation of globalization is necessary. Significant global studies have indicated that converging global homogeneous markets have not arrived, thereby concluding globalization of markets should be reexamined. A didactic examination posits globalization as marketing globalization. Two areas of opportunity for marketing globalization strategy are a modified marketing strategy in diverse global markets and a standardized marketing strategy in homogeneous global markets. © 1995 John Wiley & Sons, Inc.     

经济全球化背景下的发展经济学

发展经济学的产生与发展和经济全球化的发展有密切的关系.缩小技术知识差距和不平衡发展是发展经济学关注的新焦点;改善不公平分配、减轻贫困仍是发展经济学所关注的问题;发展理论研究与发展政策和实践结合更加紧密,加强了发展经济学的应用性.     

Nigeria since the civil conflict

It is now over three years since hostilities ceased in Nigeria and “Blafra” was re-absorbed into the Federal Republic. A sufficient period has now elapsed to enable one to judge the extent of Nigeria’s economic recovery from the ravages of the Civil War and to make projections as to the likely future growth and change of the economy.     

Intellectual property protection and the globalization of the world economy

The quest for technological leadership has caused the widespread use of intellectual property protection (IPP) as an instrument of national technology policies. Even the Agreement on Trade-Related Intellectual Property Rights (TRIPs) can be interpreted as an attempt to hinder the international diffusion of know-how from industrialized countries to technological followers. However, considering the globalization of the world economy, its effects might well be different from those expected.     

Japanese trade unions at the crossroads: dilemmas and opportunities created by globalization

Japanese trade unions have contributed much to the economic stability and success of Japanese enterprises. Globalization has, however, placed substantial pressure on the Japanese industrial relations system and, in turn, upon the enterprise union system. Not all changes can be directly attributed to globalization. We contend, however, that the success of Japanese firms, both in exports and in overseas production, has made the Japanese economy reliant on a strong world economy. Economic downturns that have been witnessed in a number of countries in 1990s have weakened the demand for Japanese export products. This, in combination with the Japanese banking and financial crises, has created pressure for an overhaul of employment and human resource management systems. This article examines these pressures and the response by trade unions.     

Understanding the framework of business in Islam in an era of globalization: a review

Despite the fact that Islam is one of the major religions, the frameworks of this faith are yet to be fully understood. As a consequence, it is being confused with activities contrary to its teachings. Islam has an elaborate treatment for almost every aspect of life including the affairs of business. Business is an acceptable and dignified occupation, which has to be conducted within the given frameworks. Islam encourages the creation, acquisition and consumption of wealth, and the fulfilling of certain conditions in so doing. Wealth is held in trust as a gift from God. The terms of reference of this trust are to be complied with. Ethical principles do play a major role in shaping the behavior of a Muslim, in or out of business. In an era of globalization, the need for a better understanding of the premises of Islamic faith cannot be overemphasized.     

面对全球化的金融工具创新

面对经济、金融全球化的发展趋势,发达国家在金融工具创新中率先行动.本文认为,我国金融工具创新中,首先应引入先进的国际理财理念;其次应贯彻法制先行原则,并尽快建立会计核算准则;再次在政府的扶植与支持下,尽快完善硬件支持系统,并运用金融工程技术方法,不断推出新的衍生品;最后应健全交易所治理结构,逐步推进国际化进程.     

Linking globalization of entrepreneurship in small organizations

The field of entrepreneurship spans a wide variety of topic areas, and among the most important is that of the small and medium-sized enterprise (SME). The aim of this paper is to link entrepreneurship and SMEs. Attempting to generalize the outcomes of entrepreneurship in small organizations from different sectors, countries or industries should be activities that are part of daily life on an international scale. In extracting and transferring the outcomes of this research into entrepreneurship and SMEs, policy makers should see an aspect that must be consolidated within the environment of international globalization that surrounds us. It should not be forgotten that what starts out as small (i.e. an SME) can become large over time and this entrepreneurship can form a part of a new organizational structure. A brief overview of the contents of each of the articles included in this special issue on the globalization of entrepreneurship in small organizations is also presented herein.