Why the world economy needs, but will not get, more globalization in the post-COVID-19 decade.

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dc.contributor.author Ciravegna, Luciano
dc.contributor.author Michailova, Snejina
dc.coverage.spatial England
dc.date.accessioned 2021-12-20T03:57:22Z
dc.date.available 2021-12-20T03:57:22Z
dc.date.issued 2021-9-6
dc.identifier.issn 0047-2506
dc.identifier.uri https://hdl.handle.net/2292/57845
dc.description.abstract Contractor argues that the coronavirus outbreak only had temporary effects on the global economy, and that post COVID-19 globalization will resume. We posit that the pandemic will have significant long-lasting effects on globalization. Our arguments are grounded in three observations. First, the pandemic has increased inter- and intra-country inequalities and has reversed trends in poverty reduction, which will intensify anti-globalization sentiments in the future. Second, the pandemic has fueled populism, nationalism, and the return of the interventionist state in the economy, which has paved the way for a rise in protectionism. Third, governmental responses to the COVID-19 crisis have undermined the multilateral institutions that have thus far facilitated globalization. These forces have resulted in growing global uncertainty and higher costs in international transactions. We argue that global value chains' reconfiguration will result in a less globalized, and more regionally fragmented world economy. We conclude by suggesting two fertile opportunities for international business scholars: researching commitment failure in international transactions and studying resilience, as illustrative examples of lines of inquiry that can help explain why this latest pandemic will compromise trends in globalization that have dominated the world economy for a long time.
dc.format.medium Print-Electronic
dc.language eng
dc.publisher Springer Science and Business Media LLC
dc.relation.ispartofseries Journal of international business studies
dc.rights Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher.
dc.rights.uri https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm
dc.subject COVID-19
dc.subject global value chains
dc.subject globalization
dc.subject inequality
dc.subject populism
dc.subject protectionism
dc.subject resilience
dc.subject Social Sciences
dc.subject Business
dc.subject Management
dc.subject Business & Economics
dc.subject globalization
dc.subject COVID-19
dc.subject inequality
dc.subject populism
dc.subject protectionism
dc.subject global value chains
dc.subject resilience
dc.subject END
dc.subject OPPORTUNISM
dc.subject RELIABILITY
dc.subject CHALLENGES
dc.subject STRATEGIES
dc.subject INEQUALITY
dc.subject GOVERNANCE
dc.subject PANDEMICS
dc.subject 1402 Applied Economics
dc.subject 1503 Business and Management
dc.subject 1505 Marketing
dc.title Why the world economy needs, but will not get, more globalization in the post-COVID-19 decade.
dc.type Journal Article
dc.identifier.doi 10.1057/s41267-021-00467-6
pubs.begin-page 1
dc.date.updated 2021-11-30T22:11:18Z
dc.rights.holder Copyright: The author en
pubs.author-url https://www.ncbi.nlm.nih.gov/pubmed/34511653
pubs.end-page 15
pubs.publication-status Published
dc.rights.accessrights http://purl.org/eprint/accessRights/RestrictedAccess en
pubs.subtype research-article
pubs.subtype Journal Article
pubs.elements-id 866725
dc.identifier.eissn 1478-6990
dc.identifier.pii 467
pubs.online-publication-date 2021-9-6

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