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

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  • Arno Tausch
  • Almas Heshmati

    ()
    (Technology Management, Economics and Policy Program(TEMEP), Seoul National University)

Abstract

This article analyses IMF estimates of economic growth in 180 countries (IMF, 2009),and links 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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File URL: ftp://147.46.237.98/DP-11.pdf
File Function: First version, 2009
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Bibliographic Info

Paper provided by Seoul National University; Technology Management, Economics, and Policy Program (TEMEP) in its series TEMEP Discussion Papers with number 200911.

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Length: 43 pages
Date of creation: Aug 2009
Date of revision: Aug 2009
Handle: RePEc:snv:dp2009:200911

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Keywords: International Relations and International Political Economy; Economic Development; Technological Change; and Growth;

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  1. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-51, March.
  2. Heshmati, Almas, 2004. "The World Distribution of Income and Income Inequality," IZA Discussion Papers 1267, Institute for the Study of Labor (IZA).
  3. StevenN. Durlauf & Andros Kourtellos & ChihMing Tan, 2008. "Are Any Growth Theories Robust?," Economic Journal, Royal Economic Society, vol. 118(527), pages 329-346, 03.
  4. Pan-Long Tsai, 1995. "Foreign direct investment and income inequality: Further evidence," World Development, Elsevier, vol. 23(3), pages 469-483, March.
  5. Goldstein, Joshua S., 1985. "Basic human needs: The plateau curve," World Development, Elsevier, vol. 13(5), pages 595-609, May.
  6. Heshmati Almas, 2006. "Measurement of a Multidimensional Index of Globalization," Global Economy Journal, De Gruyter, vol. 6(2), pages 1-30, May.
  7. Dutt, Amitava Krishna, 1997. "The pattern of direct foreign investment and economic growth," World Development, Elsevier, vol. 25(11), pages 1925-1936, November.
  8. 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.
  9. Weede, Erich & Kampf, Sebastian, 2002. "The Impact of Intelligence and Institutional Improvements on Economic Growth," Kyklos, Wiley Blackwell, vol. 55(3), pages 361-80.
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