Exogenous shocks and MNEs: Learning from pandemics, conflicts, and other major disruptions

Exogenous shocks have long been a feature of the global economy, yet they have become particularly salient in recent years. This Special Issue of the Journal of World Business addresses the shift to a New Normal characterized by frequent events that disrupt the international business context, such as the COVID-19 pandemic and the Russia-Ukraine conflict. In this Introduction to the Special Issue, we discuss how the IB literature has treated exogenous shocks. We posit that important lessons can be learned from history, and from the experience of MNEs in the countries of the Global South. We also suggest future research avenues centered around exogenous shocks, international business, and multinational enterprises.