The multinational enterprise

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Chapter 8 in State and Trade, 2017, pp 131-156 from Edward Elgar Publishing

Abstract: Capital is going abroad not just in portfolio assets but in the foreign direct investment of corporations with value-adding affiliates in a range of countries. The list includes developing countries, which in that way expand their productive potential through an infusion of funds, innovations and top-quality management. If locals are given on the-job-training and promoted to positions of responsibility, the multinational will have made a contribution that extends beyond the production of goods and the balance of payments effect of exports. Share ownership is dispersed worldwide. The company is increasingly rootless, the citizen of the world. For the same reason it is difficult to regulate. Policy-makers are forced into a ‘race to the bottom’ because excessive intervention can drive capital to a more accommodating nation.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (2)

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