engleski

Importance and impact of national culture for international trade

National culture can be seen as one of the most important factors influencing international trade. Product placement needs to be adjusted to the local cultural context in order for it to be successful, and there are many cases of organizations failing internationally due to the lack of cultural consideration. However, there has been a significant number of changes affecting international trade over the past couple of decades. Two main trends are the growth and development of former third world countries and technological changes affecting international markets. The goal of this paper is to provide a literature review on the changes in international trade and the possible implications of these changes on the relationship between national culture and international trade. In order to do so we explain the rationale of the culture convergence theory as well as provide some arguments for national culture still being an important factor in international trade.

national culture ; international trade ; trends in international trade

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