The European Union and transnational corporations

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Chapter 25 in Evolutionary Spatial Economics, 2020, pp 546-551 from Edward Elgar Publishing

Abstract: The establishment of the European Economic Community (in 1957), as phase 1 in the integration process, stimulated transnational corporations (TNCs) from the United States to invest, locate and later expand activities in this region during the 1960s and 1970s. The implementation of the Single Market Programme (phase 2) and the completion of the Single European Market in 1993 were expected to increase investment of Japanese TNCs in the European Union (EU). However, the realisation of this expectation also depended, in part, on the evolution of tariffs and non-tariff barrierss in the EU. The establishment of the eurozone in 1999 as phase 3 might reinforce the attractiveness of the EU as a location for foreign direct investment. This expectation was initially supported by a relative decline in the value of the euro relative to the dollar in the first year of its operation, and the start of the Lisbon Agenda plan (2000_2010).

Keywords: Economics and Finance; Geography (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (5)

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