Re-Orient? MNC Penetration and Contemporary Shifts in the Global Political Economy

Arno Tausch and Almas Heshmati ()

No 4393, IZA Discussion Papers from Institute of Labor Economics (IZA)

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.

Keywords: economic development; international relations and international political economy; technological change; growth (search for similar items in EconPapers)
JEL-codes: F50 O10 (search for similar items in EconPapers)
Pages: 42 pages
Date: 2009-09
New Economics Papers: this item is included in nep-cwa and nep-fdg
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Published - published in: Sociológia - Slovak Sociological Review, 2011, 44 (3), 1-20

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Working Paper: Re-Orient? MNC Penetration and Contemporary Shifts in the Global Political Economy (2009)
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