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

Casas-Klett, T., Li, J. Assessing the Belt and Road Initiative as a narrative: Implications for institutional change and international firm strategy. Asia Pac J Manag (2021). https://doi.org/10.1007/s10490-021-09757-x

17 Pages Posted: 24 May 2021

See all articles by Tomas Casas

Tomas Casas

University of St. Gallen - SoM: School of Management

Date Written: May 19, 2021

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.

Keywords: Belt and RoadInitiative, Globalization, Narrative economics, Institutions, China

Suggested Citation

Casas, Tomas, Assessing the Belt and Road Initiative as a narrative: Implications for institutional change and international firm strategy (May 19, 2021). Casas-Klett, T., Li, J. Assessing the Belt and Road Initiative as a narrative: Implications for institutional change and international firm strategy. Asia Pac J Manag (2021). https://doi.org/10.1007/s10490-021-09757-x, Available at SSRN: https://ssrn.com/abstract=3849665

Tomas Casas (Contact Author)

University of St. Gallen - SoM: School of Management ( email )

Dufourstrasse 40a
St. Gallen, CH-9000
Switzerland

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
50
Abstract Views
173
PlumX Metrics