Dynamique des formes de délocalisation et gouvernance des firmes et des États

Off-shoring is a new political issue. However, it is not a new phenomenon. In the past, relocation was part of multinational firm FDI, the strategy of the latter being market oriented or cost oriented. Organisational structure was internalized and vertical. Now, financial off-shoring connected with the merger mania and LBO operations lead to the externalization of manufacturing and R-D activities producing horizontal networks organisational structure and hollow corporations. As a result, the competitive advantage of the firm is at stake. In the future, on the one hand, private capital firms could be a substitute for the multinational firms, and in the other hand, property intellectual rights would become a crucial point for the corporate governance. That would be increased by the improvement of the emerging economies level playing field.