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Cultural Differences and Economic Globalization - Effects on trade, foreign direct investment, and migration (Paperback)
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Cultural Differences and Economic Globalization - Effects on trade, foreign direct investment, and migration (Paperback)
Series: Routledge Studies in the Modern World Economy
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Total price: R1,372
Discovery Miles: 13 720
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Economic globalization is the process of increased integration
among nations, characterized and fostered by three elements of
international trade- goods and services, international capital
flows, and international migration. In recent decades,
international economic integration has increased both in depth
(more pronounced bilateral connections) and in breadth (connections
have become more commonplace), thus, the global economy has become
increasingly integrated. Societies receive tremendous net benefits
from economic globalization, however, accessing these benefits may
be limited by cross-societal cultural differences. This book
examines cultural differences as a potential impediment to economic
integration. Relying on rigorous statistical and econometric
techniques, the analyses indicate that higher transaction costs,
due to greater cultural distance, inhibit both the volume of trade
flows and the successful completion of trade deals. Cultural
distance appears to reduce foreign direct investment, as well as
divert investment to less culturally-distant destinations. This
book finds a negative relationship between migration flows and
cultural distance. It considers the common criticism that repeated
and intensified integration diminishes cultural differences,
resulting in cultural homogeneity. This book offers the first
comprehensive examination of the relationships between
cross-societal cultural differences and economic globalization. It
will be of great interest to scholars and students who study
globalization, international economics, and cultural studies.
General
Imprint: |
Routledge
|
Country of origin: |
United Kingdom |
Series: |
Routledge Studies in the Modern World Economy |
Release date: |
September 2020 |
First published: |
2016 |
Authors: |
Roger White
|
Dimensions: |
234 x 156 x 21mm (L x W x T) |
Format: |
Paperback
|
Pages: |
244 |
ISBN-13: |
978-0-367-66862-4 |
Categories: |
Books >
Business & Economics >
Economics >
General
|
LSN: |
0-367-66862-9 |
Barcode: |
9780367668624 |
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