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Bargains Old and New: Multinational Corporations in Global Governance

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Author Info

  • Levy David L.

    (University of Massachusetts, Boston)

  • Prakash Aseem

    (University of Washington-Seattle)

Abstract

This paper outlines an approach for understanding the role of multinational corporations (MNCs) in global governance. We develop a typology of regime types with two dimensions, the goal of the regime, which can be market enabling or regulatory, and the location of authority, which can be national, regional, or international, with public and private elements. MNCs tend to support the creation of market enabling regimes at the international level, and prefer to keep social or environmental regulation under national or private authority. However, these are only generalizations and MNCs develop preferences based on their relative influence in various arenas, the costs of political participation, and competitive considerations. We argue that institutions of global governance represent the outcome of a series of negotiations among corporations, states, and non-state actors. The preferences and power of MNCs vary across issues and sectors, and from one negotiating forum to another, accounting for the uneven and fragmented nature of the resulting system. Our approach differs from the traditional FDI bargaining framework in that it recognizes the multi-party nature of negotiations and multiple sources of power. Moreover, the complexity and dynamic nature of the process results in a somewhat indeterminate process.

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File URL: http://www.degruyter.com/view/j/bap.2003.5.2/bap.2003.5.2.1051/bap.2003.5.2.1051.xml?format=INT
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Bibliographic Info

Article provided by De Gruyter in its journal Business and Politics.

Volume (Year): 5 (2003)
Issue (Month): 2 (December)
Pages: 1-21

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Handle: RePEc:bpj:buspol:v:5:y:2003:i:2:n:1

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Web page: http://www.degruyter.com

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Cited by:
  1. Denis Collins, 2009. "The Failure of a Socially Responsive Gold Mining MNC in El Salvador: Ramifications of NGO Mistrust," Journal of Business Ethics, Springer, vol. 88(2), pages 245-268, September.
  2. Spagnoletti, Belinda & O’Callaghan, Terry, 2013. "Let there be light: A multi-actor approach to alleviating energy poverty in Asia," Energy Policy, Elsevier, vol. 63(C), pages 738-746.
  3. Libman, Alexander, 2007. "Institutional competition in the post-Soviet space," MPRA Paper 10936, University Library of Munich, Germany.
  4. Rizopoulos, Yorgos A. & Sergakis, Dimitrios E., 2010. "MNEs and policy networks: Institutional embeddedness and strategic choice," Journal of World Business, Elsevier, vol. 45(3), pages 250-256, July.
  5. Wagner, Marcus, 2010. "The role of corporate sustainability performance for economic performance: A firm-level analysis of moderation effects," Ecological Economics, Elsevier, vol. 69(7), pages 1553-1560, May.

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