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Relationships between long-distance exchange, especially of luxury goods, and the centralization of political power represent a fundamental dimension of political and economic organization. Precolumbian American societies, outside familiar European contexts that have shaped analytical perspectives, provide a broadened comparative field with the potential for more nuanced analysis.

Analysis focuses on four cases that vary in political centralization, institutional complexity, and geographic scale: Ulúa societies without political centralization; small Maya states; Aztec; and Inka empires. Emphasis on relationships between principals and agents highlights the potential of social practices to perform the functions often associated with state institutions

In the Ulúa region, commerce flourished in the absence of states and their concomitants. The very wealth of Ulúa societies and the unusually broad dispersion of prosperity across social segments impeded the development of states by limiting the ability of local lords to intensify their status and convert it to political power. Intensity of market activity and long-distance exchange does not correlate well with the florescence of states. Less centralized and non-centralized political systems may in fact facilitate mercantile activity (or impede it less) in comparison with states.

These cases frame a useful perspective on the organizational configuration of long-distance trade. Informal social mechanisms and practices can be an alternative to state institutions in structuring complex economic relations. The implications for understanding trajectories of societal change are clear: the development of states and centralized political organization is not a prerequisite for robust long-distance commerce.

Many scholars have reflected on Ricardo’s comparative advantage theory, but little has been said about Yoruba economic thoughts, especially in the exchange and distribution of articles of trade. Prior to the arrival of the Europeans and their activities in the economy of Yorubaland in the pre-colonial period, communities had traded in local, distant markets and across frontiers with neighbours in exchange for products different to the ones they produced. This happened because different towns had specialised in the production of articles which were environmentally suitable to it. Soil fertility, dictated by environmental factors, was a determining factor in what was produced, as agriculture was essentially the predominant economic activity. Textile industries were also established which equally stimulated long-distance trade as specialised clothes were made for export to neighbouring regions. A number of Yoruba towns have been selected for this analysis. The work presents Yoruba economic thoughts and initiatives, and the activities of the indigenous people in the pre-colonial period in Yorubaland and critically assesses the articles which different towns produced for export to other cities and kingdoms in Yorubaland and beyond. Primary source in form of interviews were conducted, proverbs, and secondary sources such as books and journals were also consulted for this work. The economic thought of the people based on specialising in advantaged goods or what they easily produced and achieved is worth historical investigation as a means of celebrating their economic thoughts in a free market.

Liner shipping plays a crucial role in facilitating the movement of manufactured goods around the world. While previous literature has shown that liner shipping is an important trade driver, potential differences across trade routes and world regions have not as yet been explored. This paper examines whether the impact of liner shipping on bilateral trade flows differs significantly across world regions, as well as exploring other geographical patterns.

Using state-of-the-art gravity modelling, this paper investigates the impact of the UNCTAD's Liner Shipping Bilateral Connectivity Index on bilateral trade in manufactured goods using a comprehensive database of disaggregated trade data for the period from 2006 to 2019.

The results show that the trade effect of liner shipping is greater in long-distance and interregional bilateral flows. For some regions, such as North America and Oceania, the effect is greater than the world average, while for others, such as Africa and South America, the effect is significantly smaller. The trade effects of liner shipping connectivity on the main east–west routes are average, but clear asymmetry emerges when analysing China's inward and outward trade flows separately.

The results of this paper show that the major east–west routes determine the baseline trade effects of liner shipping, demonstrate that some north–south trades such as those involving Oceania generate larger trade effects and confirm that the trade effects of liner shipping can be improved for some world regions such as South America and Africa.

This paper aims to introduce economic history as a new stream of international business (IB) research. It offers a long-term perspective on how the IB has evolved over time, focussing on the interplay between multinational enterprise and the nation state.

The paper uses existing scholarly literature on international economic history to develop eight key propositions regarding the interface between the politics and economics of foreign direct investment (FDI).

There is a rivalry between nation states and competition between firms. These two forms of conflict interact. Nations use their leading firms as instruments of international policy while leading firms rely on political and financial support from home nations. Using historical evidence and cross-country comparisons, the paper explains has the scale and scope in IB activity have changed dramatically over time.

There is scope for more detailed historical studies on national policies towards inward and outward FDI.

It is important to see the recent international economic policies of China in a long-run historical perspective and to appreciate the similarities between its policies and those of other countries in the past.

Many of the potential economic gains generated by FDI may be lost through an excessive commitment of resources to the pursuit of military power as a foundation for international political power.

This paper challenges IB researchers to widen their horizons.

This paper aims to investigate the history and distribution of trade ceramics in Southeast Asia over a thousand-year period stretching from the ninth to the early nineteenth century CE.

The study takes a material culture approach to the writing of marketing history by researching the ceramics trade from the starting point of artifacts and their social context. It draws from literatures on Chinese and Southeast Asian ceramics art history and archaeology. It also is informed by first-hand experience inspecting surviving artifacts in shops, talking to dealers and taking in museum displays.

After a brief historical overview of the ceramics trade in Southeast Asia, the research further explores topics in physical distribution (transportation routes, hubs and local marketplaces and ships, cargo and packing) and product assortments, adaptation and globalization of consumer culture.

The art history and archaeological literatures provide a good overview of the ceramics trade and analysis of surviving material artifacts, but only limited information about distribution and consumption. Many questions remain unanswered.

This study contributes to international business and marketing history by documenting a thousand years of trade among China, mainland and insular Southeast Asia, and a long-standing cultural exchange facilitated by seaborne commerce. It also shares a marketing perspective with the fields of Southeast Asian art history and archaeology. Research in marketing history has neglected this region. To fully understand the development of marketing in the pre-industrial era, accounts from civilizations outside the West must be included.

Purpose – A study of the origins of socioeconomic complexity at the agropastoral site of Jachakala in the eastern altiplano of Oruro, Bolivia with pre-Tiwanaku and Tiwanaku-contemporary components (ca. AD 150–1100). It uses faunal remains to explore differential access to subsistence resources.

Methodology/approach – Synchronic and diachronic analyses of camelid faunal remains from the multicomponent highland Bolivian site of Jachakala are used to explore access to cuts of meat of variable meat utility value among three areas of the village community. The merits of interzonal analyses, rather than inter-household comparisons, are argued as well.

Findings – Differential access to cuts of camelid meat among residents of Jachakala indicate early and sustained wealth differences beyond those typical of a subsistence-oriented economy. This is significant in part because of the clear absence of political elites at the site who might have controlled or directed resource distributions.

Research limitations/implications – This study suggests the origins of socioeconomic complexity can be divorced from the development of a political elite, providing a comparative case study for archaeologists interested in similar issues elsewhere.

Originality/value – This approach to the origins of complexity focuses not on agricultural resources or control over the production or distribution of craft or exotic trade goods, but rather on animal remains. Using faunal remains as a proxy for wealth, not just protein or pastoralism, this case study contributes to discussions about incipient complexity.

The COVID-19 outbreak occurred in Wuhan region of China has significantly affected the exports and production of countries. Digitalization and technological developments have increased with the Industry 4.0, and COVID-19 measures accelerated this process. In this study, the impacts of COVID-19 pandemic have been investigated on international trade and production in European countries and Turkey. Accordingly, the cointegration relations between variables were examined with Westerlund panel cointegration test. As a result of the cointegration test, it is determined that there are long-term relationships between variables. The causality relationships between variables are analyzed with the Dumitrescu–Hurlin panel causality test. Causality analyses show that there is a unidirectional causality relationship from COVID-19 cases and deaths to export, while there is a unidirectional causality relationship from COVID-19 cases to production. The empirical findings demonstrate that COVID-19 outbreak has a significant impact on production and export processes in European countries and Turkey.

The purpose of this article is to explain why economists have neglected the corporation in their theorising. Adam Smith is the founder of mainstream economic theory. In Smith's eighteenth‐century world most things were produced by individuals or by family firms. Smith naturally took the individual entrepreneur as his theoretical unit of analysis, and Smith's theory was at least adequate for the times. But even though the economies of the English‐speaking world have evolved beyond the free enterprise of competing individual capitalists to the current system of corporate capitalism, economic theory has remained much the same. While the American economy is now composed mainly of huge corporate units of production, mainstream economic theory is still referring to “individual” producers. Other social sciences focus a great deal of attention on organisational and individual behaviour within the corporate form of organising economic activity. The work of sociologist Rosabeth Moss Kanter and of psychologist Michael Maccoby are excellent recent examples. Yet economics, at least the mainstream of the discipline, focuses upon the behaviour of individual entrepreneurs rather than corporate managers. In short, orthodox economic theory lacks a serious treatment of the corporation.

The Greehouse Gas (GHG) in the shipping industry has attracted increasing attention. One potential method to reduce the GHG mitigation cost is the Clean Development Mechanism (CDM). The purpose of this paper is to identify factors that may increase or hinder the CDM in the shipping industry and provide policy implications.

The paper is an extension and application of the methodology first published by Wang and Firestone in Energy for Sustainable Development. The gravity model in international trade theory is used. The econometric model is employed for the analysis.

Larger project endowment, higher government efficiency, high‐quality expertise and infrastructure may play roles in increasing CDM in the shipping industry. The promotion of small‐scale projects, upgrade of the infrastructure, assistance of technologies and knowledge overseas can help the shipping industry and small countries to attract more CDM.

The paper is among the first work to describe and analyze potential barriers for the international shipping industry to use the CDM. It also suggests a set of measures to address the policy options to promote CDM in the shipping industry and small developing countries.

The main aim of this paper is to illustrate the importance of avoiding Whig interpretations in historical research. It does so by highlighting examples of what may occur when this is not done. The paper also aims to promote interdisciplinarity, in the form of working with those from other disciplines, as a means to avoid this occurring.

This paper includes an in-depth study of the bookkeeping and financial reporting of two 18th century Portuguese state-sponsored companies using archival sources. The companies were selected because of conflicting insights across disciplines concerning the quality of their bookkeeping and financial reporting – historians have been very critical, while accounting historians have seen little wrong. These differences of opinion have never previously been investigated. The authors demonstrate how information was distributed among the account books and other records of the two companies. The approach adopted enabled a reader to fully understand the recorded economic events. The authors also present and explain the procedures, criteria and accounting terminology used in their annual reports.

This paper demonstrates how easy is to inadvertently adopt a Whig interpretation of accounting history when the focus of interest is something of which the principal researcher has insufficient understanding or expertise. It also illustrates how important it is to embrace interdisciplinarity by working with those from other discipline to avoid doing so.

The conclusions from the case study are company-specific and cannot be generalised beyond those companies. However, the implications of this study go beyond the companies in its illustration of the importance of fully understanding historical evidence within its own context.

This paper unveils primary archival sources never previously presented in the literature. It also contributes to the literature by providing an evidence-based justification for the calls previously made to accounting historians to study accounting in its social context and engage with historians from other disciplines.