Explaining Internationalisation of SMEs: The Importance of Internal and Local Resources

The implications of the international exchange of goods and services for territorial differentiation and the division of labour have long been a prominent subject in economic geography. In general, the importance of international trade is of more profound interest in small countries. For example, the Nordic countries (Denmark, Finland, Iceland, Norway and Sweden) are small open economies with greater trade exposure than the large OECD countries.