The Changing Global Context Of International Business

The Changing Global Context of International Business Peter J. Buckley The Changing Global Context of International Business Also by Peter J. Buckley MULTINATIONAL FIRMS, COOPERATION AND COMPETITION IN THE WORLD ECONOMY INTERNATIONAL BUSINESS INTERNATIONAL STRATEGIC MANAGEMENT AND GOVERNMENT POLICY THE FUTURE OF THE MULTINATIONAL ENTERPRISE: 25th Anniversary Edition (with Mark Casson) The Changing Global Context of International Business Peter J. Buckley © Peter J. Buckley 2003 Foreword © Seev Hirsch 2003 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London W1T 4LP. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2003 by PALGRAVE MACMILLAN Houndmills, Basingstoke, Hampshire RG21 6XS and 175 Fifth Avenue, New York, N.Y. 10010 Companies and representatives throughout the world PALGRAVE MACMILLAN is the global academic imprint of the Palgrave Macmillan division of St. Martin’s Press, LLC and of Palgrave Macmillan Ltd. Macmillan® is a registered trademark in the United States, United Kingdom and other countries. Palgrave is a registered trademark in the European Union and other countries. ISBN 0–333–99444–2 This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. A catalogue record for this book is available from the British Library. Library of Congress Cataloging-in-Publication Data Buckley, Peter J., 1949– The changing global context of international business / Peter J. Buckley. p. cm. A collection of articles co-authored by Buckley and collaborators between 1997–2001. Includes bibliographical references and index. ISBN 0–333–99444–2 (cloth) 1. International business enterprises. 2. International business enterprises—Management. 3. Joint ventures. 4. Knowledge management. 5. International economic integration. I. Title HD2755.5 .B818 2002 338.8′8—dc21 2002072508 10 12 9 11 8 10 7 09 6 5 08 07 4 06 3 05 2 1 04 03 Printed and bound in Great Britain by Antony Rowe Ltd, Chippenham and Eastbourne For Bob Pearce This page intentionally left blank Contents List of Tables ix List of Figures xi Foreword by Seev Hirsch xii Acknowledgements xviii Notes on the Contributors 1 Introduction and overview Part I 2 3 4 5 xix 1 The Changing Context of International Business The Moral Basis of Global Capitalism: Beyond the Eclectic Theory (with Mark Casson) 5 Corporations and Structural Change in the World Economy 39 Alternatives to Decline, Threat or Scarcity: Exit, Voice, Loyalty and Institutional Response