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

  • Tausch, Arno


    (University of Innsbruck)

  • Heshmati, Almas


    (Jönköping University, Sogang University)

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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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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  1. Steven N. Durlauf & Andros KOURTELLOS & Chih Ming Tan, 2007. "Are Any Growth Theories Robust?," Discussion Papers Series, Department of Economics, Tufts University 0703, Department of Economics, Tufts University.
  2. Prebisch, Raúl, 1983. "The crisis of capitalism and international trade," Revista CEPAL, United Nations Economic Commission for Latin America and the Caribbean (ECLAC), August.
  3. Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," UWO Department of Economics Working Papers 8904, University of Western Ontario, Department of Economics.
  4. Weede, Erich & Kampf, Sebastian, 2002. "The Impact of Intelligence and Institutional Improvements on Economic Growth," Kyklos, Wiley Blackwell, vol. 55(3), pages 361-80.
  5. Goldstein, Joshua S., 1985. "Basic human needs: The plateau curve," World Development, Elsevier, vol. 13(5), pages 595-609, May.
  6. Heshmati, Almas, 2004. "The World Distribution of Income and Income Inequality," IZA Discussion Papers 1267, Institute for the Study of Labor (IZA).
  7. Heshmati Almas, 2006. "Measurement of a Multidimensional Index of Globalization," Global Economy Journal, De Gruyter, vol. 6(2), pages 1-30, May.
  8. Dutt, Amitava Krishna, 1997. "The pattern of direct foreign investment and economic growth," World Development, Elsevier, vol. 25(11), pages 1925-1936, November.
  9. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  10. 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.
  11. Pan-Long Tsai, 1995. "Foreign direct investment and income inequality: Further evidence," World Development, Elsevier, vol. 23(3), pages 469-483, March.
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