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Enterprise and CompetitivenessA Systems View of International Business$
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Mark Casson

Print publication date: 1995

Print ISBN-13: 9780198289579

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198289579.001.0001

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Recent Trends in International Business

Recent Trends in International Business

(p.1) 1 Recent Trends in International Business
Enterprise and Competitiveness

Mark Casson

Oxford University Press

The conventional economic theory can thoroughly explain the growth of horizontally integrated multinational companies during the 1950s and the 1960s. However, this theory is not rich enough to explain recent developments in international business such as the rise of a new international division of labour, the growth of the service sector in the 1970s, the emergence of joint ventures, and the importance of Japanese foreign direct investment (FDI). This chapter introduces the three main aspects of the conventional theory and presents the theory's limitations. The book provides new insights and rediscovers old insights regarding the said developments. The book also presents the application of these insights to international business, economics, and other social sciences.

Keywords:   conventional economic theory, division of labour, service sector, joint venture, Japan, foreign direct investment, insights, international business

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