Ethnocultural features of international economic relations: global challenges

Yuriy Kozak
Doctor of Economics, Professor, Head of International Economic Relations Department, Odessa National Economic University, Ukraine, e-mail: yuriy777kozak@gmail.com, ORCID ID: https://orcid.org/0000-0002-5358-4420

Olexiy Sulym
PhD in Philosophy, Associate Professor, International Economic Relations Department, Odessa National Economics University, Ukraine, e-mail: AlexW2@ukr.net, ORCID ID: https://orcid.org/0000-0002-9392-1663

Cite this article:

Kozak, Y., Sulym, O. (2018). Ethnocultural features of international economic relations: global challenges. Ed.: M. Zveryakov (ed.-in-ch.) and others [Etnokulturni osoblyvosti mizhnarodnykh ekonomichnykh vidnosyn: hlobalni vyklyky; za red.: М. I. Zvieriakova (gol. red.) ta in.], Socio-economic research bulletin; Vìsnik socìal’no-ekonomìčnih doslìdžen’ (ISSN 2313-4569), Odessa National Economic University, Odessa, No. 3 (67), pp. 19–27.

Abstract

The process of «returning» of cultural concepts to the mainstream of economic thinking, the growing recognition of the essential role of ethno-cultural factors in economic processes is considered in the article. Different approaches to the study of the influence of historically developed national cultural stereotypes on economic development and, in particular, on international economic processes in the global world are analyzed. An understanding of culture is formulated in its significance for economic processes, namely, as of informal institutions that are the product of a long historical development of peoples, is formulated. Culture in this regard is a set of collective mental stereotypes and behaviors that are sustainably transmitted from generation to generation and to a significant degree determine, motivate and shape economic activity and interaction of economic actors. It is shown that modern studies pay the most attention to the influence of cultural and historical capital of various peoples on their economic success compared with other countries, on the international competitiveness of national economies. In this connection, the cultural and historical foundations of high entrepreneurial activity, creativity, and attitude to work are analyzed. The analysis is focused on the review of different studies of cultural aspects of international economic interaction, in particular, to the influence of culture on the dynamics of international trade. Also the competitiveness of national economies, the issue of making decisions about the nature and direction of entry mode of multinational companies to the foreign market, the issue of cross-cultural management is considered. Different approaches to the culture of international business communication at the negotiation stage are analyzed. Conclusions about the need to increase the cross-cultural competence of business representatives as a condition for improving the competitiveness of both individual companies and national economies are drawn.

Keywords

cultural values; informal cultural institutions; national economic mentality; cultural distance; cultural and historical capital; cross-cultural competence.

JEL classification: A120; A130; D020; J240; Z130; DOI: https://doi.org/10.33987/vsed.3(67).2018.19-27

UD classification: 330.1; 339.9

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