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Facts and Issues, from Multinational Firms in the World Economy

In: Multinational Firms in the World Economy

Author

Listed:
  • Giorgio Barba Navaretti

    (University of Milan, Centro Studi Luca d'Agliano.)

  • Anthony J. Venables

    (Department for International Development, London; London School of Economics; Centre for Economic Policy Research)

Abstract

Depending on one's point of view, multinational enterprises are either the heroes or the villains of the globalized economy. Governments compete fiercely for foreign direct investment by such companies, but complain when firms go global and move their activities elsewhere. Multinationals are seen by some as threats to national identities and wealth and are accused of riding roughshod over national laws and of exploiting cheap labor. However, the debate on these companies and foreign direct investment is rarely grounded on sound economic arguments. This book brings clarity to the debate. With the contribution of other leading experts, Giorgio Barba Navaretti and Anthony Venables assess the determinants of multinationals' actions, investigating why their activity has expanded so rapidly, and why some countries have seen more such activity than others. They analyze their effects on countries that are recipients of inward investments, and on those countries that see multinational firms moving jobs abroad. The arguments are made using modern advances in economic analysis, a case study, and by drawing on the extensive empirical literature that assesses the determinants and consequences of activity by multinationals. The treatment is rigorous, yet accessible to all readers with a background in economics, whether students or professionals. Drawing out policy implications, the authors conclude that multinational enterprises are generally a force for the promotion of prosperity in the world economy.

Suggested Citation

  • Giorgio Barba Navaretti & Anthony J. Venables, 2006. "Facts and Issues, from Multinational Firms in the World Economy," Introductory Chapters,in: Multinational Firms in the World Economy Princeton University Press.
  • Handle: RePEc:pup:chapts:7832-1
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    Citations

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    Cited by:

    1. Ronald Davies & Helen Naughton, 2014. "Cooperation in environmental policy: a spatial approach," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 21(5), pages 923-954, October.
    2. Ronald B. Davies & Rodolphe Desbordes & Anna Ray, 2015. "Greenfield versus Merger \& Acquisition FDI: Same Wine, Different Bottles?," The Institute for International Integration Studies Discussion Paper Series iiisdp469, IIIS.
    3. Emmanuel Dhyne & Selen Sarisoy Guerin, 2014. "Outward foreign direct investment and domestic performance : In search of a causal link," Working Paper Research 272, National Bank of Belgium.
    4. repec:hal:cesptp:halshs-01122659 is not listed on IDEAS
    5. Alfaro, Laura & Chen, Maggie Xiaoyang, 2014. "The global agglomeration of multinational firms," Journal of International Economics, Elsevier, vol. 94(2), pages 263-276.
    6. Fabien CANDAU & Jacques LE CACHEUX, 2017. "Corporate Income Tax as a Genuine own Resource," Working Papers 2016-2017_6, CATT - UPPA - Université de Pau et des Pays de l'Adour, revised Mar 2017.
    7. Kohler, Wilhelm Kaspar & Stähler, Frank, 2016. "The Economics of Investor Protection: ISDS versus National Treatment," Annual Conference 2016 (Augsburg): Demographic Change 145652, Verein für Socialpolitik / German Economic Association.
    8. Gabor Bekes & Balázs Murakozy, 2015. "The ladder of foreign sales: Internationalization modes of European firms," IEHAS Discussion Papers 1527, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
    9. Fathi Ali & Norbert Fiess & Ronald Macdonald, 2011. "Climbing To The Top? Foreign Direct Investment And Property Rights," Economic Inquiry, Western Economic Association International, vol. 49(1), pages 289-302, January.
    10. Agarwal, Natasha & Milner, Chris & Riaño, Alejandro, 2014. "Credit constraints and spillovers from foreign firms in China," Journal of Banking & Finance, Elsevier, vol. 48(C), pages 261-275.
    11. Davies, Ronald B. & Siedschlag, Iulia & Studnicka, Zuzanna, 2016. "The Impact of Taxes on the Extensive and Intensive Margins of FDI," Papers WP537, Economic and Social Research Institute (ESRI).
    12. Riccardo Crescenzi & Simona Iammarino, 2016. "Global Investments and Regional Development Trajectories: the Missing Links," LEQS – LSE 'Europe in Question' Discussion Paper Series 118, European Institute, LSE.
    13. Massimo Armenise & Giorgia Giovannetti & Gianluca Santoni, 2011. "FDI in Business Services has general TFP effects : evidence from Italy," Working Papers - Economics wp2011_12.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    14. Ronald B. Davies & Rodolphe Desbordes & Anna Ray, 2015. "Greenfield versus Merger & Acquisition FDI: Same Wine, Different Bottles?," Working Papers halshs-01122659, HAL.
    15. Badi H. Baltagi & Peter H. Egger & Michaela Kesina, 2018. "Contagious Exporting and Foreign Ownership: Evidence from Firms in Shanghai Using a Bayesian Spatial Bivariate Probit Model," CESifo Working Paper Series 6993, CESifo Group Munich.
    16. repec:msm:wpaper:2014/23 is not listed on IDEAS
    17. Smeets, Roger & de Vaal, Albert, 2016. "Intellectual Property Rights and the productivity effects of MNE affiliates on host-country firms," International Business Review, Elsevier, vol. 25(1), pages 419-434.
    18. Bürgi Bonanomi, Elisabeth & Elsig, Manfred & Espa, Ilaria, 2015. "The Commodity Sector and Related Governance Challenges from a Sustainable Development Perspective: The Example of Switzerland Current Research Gaps," Papers 865, World Trade Institute.
    19. repec:bla:worlde:v:39:y:2016:i:12:p:1974-1999 is not listed on IDEAS

    More about this item

    Keywords

    globalization; foreign investment; national identities; wealth; labor; world economy; prosperity; policy;

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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