Assessing the Belt and Road Initiative as a narrative: Implications for institutional change and international firm strategy

Item Type Journal paper
Abstract This article explores the role of narratives as drivers that guide the institutional change associated with globalization and deglobalization. For China’s Belt and Road Initiative (BRI) to succeed as a driver of institutional change in favor of globalization, it must pass the narrative “virality” test and successfully contend with competing narratives. Rival narratives will be launched by firms and orga- nizations worldwide that expect to win or lose from deglobalization or from new forms of globalization. This study develops a useful framework for establishing the extent to which China’s BRI is a genuine narrative or just a story. In this regard, four testable propositions are put forth to ascertain whether the BRI is values-based, extends an invitation to participate, is open-ended, and is associated with economic performance for both Chinese and non-Chinese participants. The analysis of the BRI-related institutional change that leads to globalization applies a theoretical lens centered on the narrative economics perspective and on the institution-based view and political economy perspective. Implications for BRI stakeholders, international business practitioners, and international business schol- arship are outlined.
Authors Casas Klett, Tomas & Li, JT
Journal or Publication Title Asia Pacific journal of management : APJM
Language English
Subjects business studies
HSG Classification contribution to scientific community
Refereed Yes
Date 6 February 2021
Publisher Springer Science + Business Media B.V
ISSN 0217-4561
Publisher DOI https://doi.org/10.1007/s10490-021-09757-x
Depositing User Dr. Tomas Casas Klett
Date Deposited 19 May 2021 19:29
Last Modified 20 Jul 2022 17:45
URI: https://www.alexandria.unisg.ch/publications/263178

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Casas Klett, Tomas & Li, JT (2021) Assessing the Belt and Road Initiative as a narrative: Implications for institutional change and international firm strategy. Asia Pacific journal of management : APJM, ISSN 0217-4561

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https://www.alexandria.unisg.ch/id/eprint/263178
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