The Legal Responsibilities of Multinational Corporations in Developing Countries

Kongming Zhou ()
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Kongming Zhou: Aquinas International Academy

A chapter in Proceedings of the 2024 4th International Conference on Enterprise Management and Economic Development (ICEMED 2024), 2024, pp 252-264 from Springer

Abstract: Abstract In the current age of globalisation, Multinational Corporations (MNCs) have expanded their operations to a multitude of developing countries, bringing with them a host of legal responsibility issues. This paper examines the expansive activities of MNCs over several decades and their profound effects on developing nations. It highlights the inadequacies within the legal and regulatory frameworks of these countries, which often fail to protect the rights of workers and consumers adequately. The paper provides an analysis of the systemic shortcomings that have allowed MNCs to operate with relatively fewer constraints in developing markets. Furthermore, it proposes a suite of strategies and recommendations designed to fortify legal compliance and ethical business conduct. These recommendations underscore the need for a concerted effort among MNCs, governments, civil societies, and international organizations to build a truly free-market system that is grounded in legal responsibilities and conducive to sustainable development. Such collaborative actions are imperative for the protection of essential rights, including labour rights, environmental preservation, and consumer protection, ensuring that all stakeholders benefit from equitable economic growth.

Keywords: Multinational Corporations (MNCs); Developing Countries; Legal Responsibilities (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-506-5_29

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DOI: 10.2991/978-94-6463-506-5_29

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