Call for Chapters: Managerial Strategies for Navigating Economic Nationalism

Editors

Harish C. Chandan, Argosy University

Call for Chapters

Proposals Submission Deadline: June 30, 2017
Full Chapters Due: October 30, 2017
Submission Date: February 28, 2018

Introduction

Introduction





In the hyper-connected, globalized world economy of today, the goal of the economic nationalism for a nation is to promote its economic growth and prosperity of its citizens. It represents a set of country-specific economic practices to create, strengthen and protect a nation’s economy in the context of international markets. Economic nationalism encourages economic policies aimed at promoting domestic control of consumption, labor and capital formation. It questions the benefits of unrestricted global free trade. The economic nationalism often calls for trade protectionism, limiting imports, increasing exports, currency manipulation and restricting immigration (Pryke, 2012). There is a relationship between economic nationalism and foreign direct investment (FDI) in emerging markets. The public opinion and prevailing preferences regarding FDI affect the location decisions of multinational companies(Jacobsen and Jacobsen, 2011).


The recent trend of economic nationalism or protectionism is a product of the rapid globalization, the recent economic crisis, trade deficits and the nationalist movements. The globalization is also perceived as a threat to national security by some countries as they perceive the national greatness in terms of military power (Ali, 2017). Recent examples of economic nationalism include UK exiting from European Union (BREXIT, 2017), the U.S. pulling out of the multilateral Trans-Pacific Partnership trade deal involving twelve countries while Japan trying to achieve a deal among the remaining eleven countries (Nikkei Asian Review, 2017). The opposition to Transatlantic Trade and Investment Partnership (TTIP) between U.S. and the European Union signals a new environment with a potential for nationalistic, protectionist and anti-globalization policies.


Economic nationalism can be understood in terms of local government economic policies, attitudes of domestic firms towards foreign domestic investment, the attitudes of consumers towards foreign goods and firms, and the interaction of the multi-national firms and domestic firms. The expectations model of economic nationalism includes the people’s expectations of their government, domestic firms, and the general public, in terms of restricting the activities of foreign firms. (Akhter, 2007; Nakano, 2004). An alternative view of economic nationalism differentiates it from protectionism and defines as leveraging of national resources to secure economic benefits from the world economy. This view holds that the countries are not only active participants in globalization but they continue to strategically express nationalism in new global settings by supporting national firms and citizens overseas. Business leaders of the multinational corporations focus not only on the benefits that they will derive from entering a country, but also the benefits they will deliver to their domestic economy by investing capital in a foreign country (D’Costa, 2009).


Different countries practice economic nationalism in different ways based on their emerging priorities in the social, political and economic contexts. Both the developed economies and developing economies are exhibiting a recent surge in economic nationalism. The increasing globalization and the growth of world markets through greater exports has threatened the economic growth of developed economies that import more than export like the U.S.A. Many Asian firms have become globally competitive by using the processes of globalization and economic nationalism. Through effective firm strategy and economic nationalistic policies of China, the Chinese multi-national firm Huawei has exceeded Swedish firm Ericsson for making telecommunication equipment. Other examples include Lenovo and Haier from China and Infosys from India. Many Western nations including U.S. are beginning to warm up to the idea of using economic nationalistic policies to promote their own industries and make them more competitive globally (D’Costa, 2012). A country’s economic openness affects its economic nationalism. The economic interests of a country in the domestic market relative to its interests in the foreign market influence its economic nationalism sentiment. Increasing the foreign trade reduces the economic interests in the domestic market and thus weakens its economic nationalism. Using the Chinese Political Compass data and the World Value Surveys data, this prediction holds both cross-sectionally and over time. Based on the cross-country data, this also applies to the analysis of nationalism across countries. (Lan and Li, 2015).


Economic nationalism can be misinterpreted as anti-globalization and isolation, which can be self-defeating for a nation in the hyper-connected world economy. The complexity of the implementation of economic nationalism lies in preserving self-interest and promoting international economic partnerships. Economic nationalism can co-exist with globalization. Economic nationalistic policies can be used to manage the globalization processes to a country’s own advantage. Globalization can be used as a means to serve the developmental needs of a country using economic nationalistic policies to have access to foreign capital, expertise and markets leading to export-oriented domestic industries. Economic Nationalism is not just a "protectionist" ideology. Economic Nationalism demonstrates the economic significance of policies that promote the industries in a nation to grow and expand beyond its national borders to become global. It is associated with context-specific economic policies including support for economic liberalization and globalization (Helleiner, 2004; Stiglitz, 2002).


The multinational firms are facing an increasingly unstable international investment climate due to the economic nationalism leading to foreign assets being taken over by domestic governments by nationalizing the strategic assets like minerals and oil (Wagner and Disparte, 2016; Green, 2008). The CEO’s and managers of the multi-nationals have to explore the political-risk insurance. For domestic and multi-national firms, the negative sentiments about immigration will have an impact on global talent management, foreign domestic investment and mergers and acquisitions. The business leaders of domestic and multinational firms have to devise new strategies to deal with the governments, consumers and markets in this new environment. The multinational corporations have to overcome the protectionist sentiments among consumers and government regulators and reinvent their corporate social responsibility models. They have to think about the new strategies in dealing with the country-specific perspectives of economic nationalism.


REFERENCES


Ali, A. J., (2017), “Economic Nationalism and International Trade”, Journal of Competitiveness Studies,


Indiana, 25.1, 1-6.


Akhter, S. H., (2007), “Globalization, Expectations Model of Economic


Nationalism, and Consumer Behavior”, Journal of Consumer


Marketing, 24(3), 142-150.


BREXIT, (2017), http://www.msn.com/en-us/news/world/in-historic-break-britain-gives-formal-notice-to- leave-eu/ar-BByZRIP?OCID=ansmsnnews11, Retrieved on March 29,2017


D’Costa, A. P. (ed.), (2012), “Globalization and Economic Nationalism in


Asia”, Oxford University Press.


D’Costa, A. P., (2009), “Economic nationalism in motion: Steel, auto, and


software industries in India”, Review of International Political


Economy:RIPE, 16(4), 620


Greenfield, L., (2001), “The Spirit of Capitalism: Nationalism and Economic


Growth”, p23, Harvard University Press, Cambridge, Massachusetts, USA


Helleiner, E., (2004), “Economic Nationalism in a Globalizing World ,


Cornell University Press.


Jakobsen, J.Jakobsen, T. G., (2011), “Economic nationalism and FDI: The impact of public opinion on


foreign direct investment in emerging markets, 1990-2005”, Society and Business review, 6.1, 61-76.


Lan, X., Li, B. G., (2015), “The Economics of Nationalism”, American Economic Journal. Economic


Policy, 7.2, 294-325.


Nakano, T., (2004), “Theorizing Economic Nationalism”, Nations and


Nationalism, 10(3), 211-229.


Nikkei Asian Review, (2017),


http://asia.nikkei.com/Politics-Economy/International-Relations/In-or-out-of-TPP-Washington-s-pressure-has-Tokyo-fretting, Retrieved April28,2017.


Pryke, S., (2012), Economic Nationalism: Theory, History and


Perspectives”,Global Policy, 3(3), 281-291.


TPP, (2017), http://www.bbc.com/news/business-32498715, Retrieved, April 19,2017





Stiglitz, J. E., (2002), “Globalism’s Discontents”, The American Prospect, suppl. Globalism and the


World’s Poor”, ABI/INFORM Global, Princeton, A16-A21.


Objective

Objective of the Book
The economic nationalism creates uncertainty for domestic and global business leaders. In this uncertain environment, the business leaders have to come up with new strategies to deal with consumers, governments, and markets. This book will aim to provide an understanding of the recent rise of the economic nationalism in the context of the hyper connected global economy. Strategies for the managers of the domestic and international firms will be discussed to make their firms successful. Country-specific perspectives of economic nationalism will be presented. A balanced perspective will be presented where economic nationalism and globalization can co-exist.


Target Audience

Target Audience
The target audience of this book includes the business leaders, government policy makers, managers of domestic and multinational firms and researchers working in the field of economic nationalism , economic growth, foreign domestic investment, and global talent management. The CEO’s and Managers of domestic and multi-national firms will benefit from the discussion of strategies in today’s volatile, unpredictable and uncertain economic environment with the increasing sentiment of economic nationalism.


Recommended Topics

Recommended topics include, but are not limited to, the following:
1. Economic Nationalism and Free Market
2. Economic Nationalism and the State of World Economy
3. Economic Nationalism and Economic Growth
4. Economic Nationalism and Foreign Domestic Investment (FDI)
5. Economic Nationalism and Global Economic Stability
6. Economic Nationalism and International Investment Climate
7. Economic Nationalism, Resource Nationalism and Multi-nationals
8. Economic Nationalism and Cosmopolitanism on Consumer Behavior
9. Economic Nationalism and the Corporate Social responsibility Model
10. Implication of Economic Nationalism for Multinational Corporations
11. Economic Nationalism and Consumer Behavior
12. Overcoming protectionist sentiments among consumers and government regulators
13. Role of Domestic firms in an environment of economic nationalism
14. Negative sentiments towards immigration for expatriates and global talent management
15. Foreign capital flows and economic nationalism
16. Economic Nationalism and International Trade Partnerships
17. Benefits and Inequities of Globalization
18. Implication of BREXIT for Domestic and Multinational Firms in UK
19. Implications of TTIP for Domestic and Multinationals in Firms
20. Implications of TPP for Domestic and Multinationals
21. Economic Nationalism and Globalization by Country (e.g. USA, China, South Korea, Japan…).
22. Economic Nationalism and Managerial Strategies for Global Talent Acquisition
23. Economic Nationalism and Exports/Imports for Domestic Firms
24. Economic Nationalism and Multinationals
25. Economic Nationalism and Managerial Strategies for Foreign Domestic Investment
26. Economic Nationalism and Political Environment
27. Role of Government in Economic Nationalism
28. Economic Nationalism and State Owned Enterprises
29. Economic Nationalism and Private Enterprises
30. Economic Nationalism and Mergers and Acquisitions
31. Economic Nationalism and Protectionism
32. Role of Small and Medium Enterprises in Economic Nationalism
33. Role of Foreign multi-national Enterprises in Economic Nationalism
34. Economic Nationalism and Innovation
35. Economic Nationalism and Domestic Manufacturing.


Submission Procedure

Submission Procedure Researchers and practitioners are invited to submit on or before June 30,2017, a chapter proposal of 1,000 to 2,000 words clearly explaining the mission and concerns of his or her proposed chapter. Authors will be notified by July 15, 2017 about the status of their proposals and sent chapter guidelines. Full chapters are expected to be submitted by October 30, 2017, and all interested authors must consult the guidelines for manuscript submissions at http://www.igi-global.com/publish/contributor-resources/before-you-write/ prior to submission. All submitted chapters will be reviewed on a double-blind review basis. Contributors may also be requested to serve as reviewers for this project. Note: There are no submission or acceptance fees for manuscripts submitted to this book publication, Managerial Strategies for Navigating Economic Nationalism. All manuscripts are accepted based on a double-blind peer review editorial process. All proposals should be submitted through the E-Editorial DiscoveryTM online submission manager.

Publisher

This book is scheduled to be published by IGI Global (formerly Idea Group Inc.), publisher of the "Information Science Reference" (formerly Idea Group Reference), "Medical Information Science Reference," "Business Science Reference," and "Engineering Science Reference" imprints. For additional information regarding the publisher, please visit www.igi-global.com. This publication is anticipated to be released in 2018.

Important Dates

Important Dates
June 30,2017: Proposal Submission Deadline
July 15,2017: Notification of Acceptance
October 30, 2017: Full Chapter Submission
January 5, 2018: Review Results Returned
February 15, 2018: Final Acceptance Notification
February 28, 2018: Final Chapter Submission

Editorial Advisory Board Members:
Dr. Bryan Christiansen, CEO, Tactical Systems, LLC, USA ; Dr. Rituparna Das, Professor of Economics, Adamas University, India ; Dr. Marianne Greenfield, Argosy University, USA; Dr. Andrea Banto, Strayer University, USA; Dr. Andrew Borg, Argosy University; USA ;Dr. Neeta Jayant Baporikar, Namibia University of Science and Technology, Namibia. Dr. Marguerite Faulk, Argosy University; Clara Volintiru, Bucharest Academy of Economic Studies, Romania


Inquiries

Inquiries can be forwarded to
Harish C. Chandan
hchandanphd@gmail.com


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