The Cross-Border Integration of Markets and International Business

33 Pages Posted: 11 May 2001

See all articles by Pankaj Ghemawat

Pankaj Ghemawat

University of Navarra, IESE Business School; New York University (NYU) - Leonard N. Stern School of Business

Date Written: April 2001

Abstract

This paper reviews economic evidence concerning the international integration of markets and concludes that most measures of market integration have scaled new heights in the last few decades but still fall far short of economic theory's ideal of perfect integration. Intermediate levels of cross-border integration enhance the prospects of international business as a distinct field of study, since such situations cannotunlike situations of either complete segmentation or complete integrationbe folded back into the single-country base case that is the staple of much of business analysis. And within the intermediate category, situations in which international economic integration is increasing also imply increasing interest in international business over time.

Suggested Citation

Ghemawat, Pankaj, The Cross-Border Integration of Markets and International Business (April 2001). HBS Comp. & Strategy Unit Working Paper No. CS5701. Available at SSRN: https://ssrn.com/abstract=269132 or http://dx.doi.org/10.2139/ssrn.269132

Pankaj Ghemawat (Contact Author)

University of Navarra, IESE Business School ( email )

Avenida Pearson 21
Barcelona, 08034
Spain

New York University (NYU) - Leonard N. Stern School of Business ( email )

Suite 9-160
New York, NY
United States

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