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

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  • Tausch, Arno

    ()
    (University of Innsbruck)

  • Heshmati, Almas

    ()
    (Jönköping University, Sogang University)

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.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 4393.

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Length: 42 pages
Date of creation: Sep 2009
Date of revision:
Handle: RePEc:iza:izadps:dp4393

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Keywords: international relations and international political economy; economic development; technological change; growth;

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  1. Klitgaard, Robert & Fedderke, Johannes, 1995. "Social integration and disintegration: An exploratory analysis of cross-country data," World Development, Elsevier, vol. 23(3), pages 357-369, March.
  2. StevenN. Durlauf & Andros Kourtellos & ChihMing Tan, 2008. "Are Any Growth Theories Robust?," Economic Journal, Royal Economic Society, vol. 118(527), pages 329-346, 03.
  3. Dutt, Amitava Krishna, 1997. "The pattern of direct foreign investment and economic growth," World Development, Elsevier, vol. 25(11), pages 1925-1936, November.
  4. Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," Working papers 527, Massachusetts Institute of Technology (MIT), Department of Economics.
  5. Weede, Erich & Kampf, Sebastian, 2002. "The Impact of Intelligence and Institutional Improvements on Economic Growth," Kyklos, Wiley Blackwell, vol. 55(3), pages 361-80.
  6. Pan-Long Tsai, 1995. "Foreign direct investment and income inequality: Further evidence," World Development, Elsevier, vol. 23(3), pages 469-483, March.
  7. Heshmati, Almas, 2004. "The World Distribution of Income and Income Inequality," IZA Discussion Papers 1267, Institute for the Study of Labor (IZA).
  8. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  9. Goldstein, Joshua S., 1985. "Basic human needs: The plateau curve," World Development, Elsevier, vol. 13(5), pages 595-609, May.
  10. Heshmati Almas, 2006. "Measurement of a Multidimensional Index of Globalization," Global Economy Journal, De Gruyter, vol. 6(2), pages 1-30, May.
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