Re-Orient? MNC Penetration and Contemporary Shifts in the Global Political Economy
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CONTRIBUTORS:
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INSTITUTION ID:
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SERIES TITLE:
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YEAR:
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2009
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PUB TYPE:
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Working Paper/Manuscript
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WORKING PAPER NUMBER:
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4393
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PAGES:
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SUBJECT(S):
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JEL Classification: F50, O10
Keywords: international relations and international political economy,
economic development, technological change, growth
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DISCIPLINE:
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Political Science
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HTTP:
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http://ideas.repec.org/p/iza/izadps/dp4393.html
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LANGUAGE:
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English
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PUB ID:
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103-463-168
(Last edited on
2009/10/19 13:18:46 GMT-6)
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SPONSOR(S):
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ABSTRACT:
This article analyses IMF estimates of economic growth in 180 countries (IMF, 2009), and inks the results to the "Re-orient" approach, put forward by Frank, 1998. With global economic gravitation shifting to the Indian Ocean/Pacific region, the article also analyses the role of MNC (foreign capital) penetration as the key variable of past quantitative dependency studies for contemporary economic growth and social performance. In a Schumpeterian fashion, MNC penetration reflects the power, which transnational oligopolies wield over local economies. Today, social polarization and stagnation increase as a consequence of the development model, based on high MNC penetration.
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