The Laws of Globalization and Business Applications

'In a world where most conversations about globalization are characterized by sweeping generalizations and self-serving misrepresentations, The Laws of Globalization and Business Applications is an indispensable resource for students and scholars of business, economics, and public policy. And nobody is more qualified and trusted to write such a boldly-titled book than Professor Ghemawat, who for decades has championed clarity and truth in the subject as a leading researcher and advisor. That's why he was invited to serve on AACSB's task force on the globalization of management education and author its recommendations on what to teach students about globalization, and how.' Dan LeClair, Executive Vice President and Chief Strategy and Innovation Officer, AACSB International, Florida

'Any business that has encountered, and possibly suffered from, administrative, cultural, geographic or other differences in the course of international expansion or investment, will find much to empathize with in Dr. Ghemawat's new book. He presents a cogent case for why globalization is actually a long drawn out process conditioned by the two "laws" referenced in the title, rather than a simple fact. Of particular importance, is his detailed analysis of firm-level data to illustrate what is really at work in the so-called "globalization of business". The book will be a useful guide to any business that seeks international markets or supply chains as well as scholars of these phenomena.' Victor K. Fung, Group Chairman, Fung Group and Honorary Chairman, Li & Fung Limited

'A treasure trove of data, insightful (and often graphic) analysis, and references, The Laws of Globalization and Business Applications is essential reading for anyone seeking to measure and understand economic globalization. In contrast to "the world is flat" view, Ghemawat convincingly demonstrates that globalization remains relatively shallow and strongly constrained by distance. While largely a chronicle of globalization over the last two decades, this book also provides a warning regarding the difficulty of unwinding global interdependence, which is more timely than ever, given Brexit and other recent developments!' Donald R. Lessard, Epoch Foundation Professor of International Management, Emeritus, MIT Sloan School of Management

'For some time now, there has been an incredible amount of hype about the advent of globalization. As significant as this phenomenon might have been, it has surely been exaggerated by both the popular press and, more worryingly, by academics too. In the last few years, Pankaj Ghemawat has embarked on a much needed crusade to document the actual depth and breadth of this globalization process. The picture that emerges from this academic endeavor is much more nuanced that the one often portrayed in the literature. This magnificent book overviews much of Ghemawat's recent work on this topic and should appeal to a broad range of social scientists intereste...

Pankaj Ghemawat is a Professor at NYU Stern School of Business, where he directs the Center for the Globalization of Education and Management, and the Anselmo Rubiralta Professor of Global Strategy at IESE Business School. He served for more than twenty years on the faculty of Harvard Business School, where in 1991, he became the youngest person ever to be appointed a full professor. Recent honors include the Booz Eminent Scholar Award of the International Management Division of the Academy of Management. He served on the AACSB's taskforce on the globalization of management education, and authored the report's recommendations about what to teach students about globalization, and how.

Introduction; Part I. The Law of Semiglobalization: 1. Defining and measuring globalization with Steven A. Altman; 2. The depth of globalization; 3. Globalization in historical perspective with Geoffrey G. Jones; 4. The globalization of business; Part II. The Law of Distance: 5. The breadth of globalization and distance; 6. Distances at industry and company level with Steven A. Altman; 7. Distance and international business research with Steven A. Altman; Part III. Business Applications: 8. Cultural distance and national cultural differences with B. Sebastian Reiche; 9. Administrative distance and institutional variety with Thomas M. Hout; 10. Geographic distance and regionalization with Steven A. Altman; 11. Economic distance and the big shift to emerging economies with Steven A. Altman; Index.