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The Political Economy of Globalization – Revisiting Stephen Hymer 50 Years On

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  • Dunning, John
  • Pitelis, Christos

Abstract

We discuss issues pertaining to the political economy of “globalization”, in the context of the seminal contribution by Stephen Hymer. While Hymer’s contribution to the theory of the multinational enterprise (MNE) and foreign direct investment (FDI) is widely recognized, his contribution to the political economy of what he called “multinational corporate capital” has received less attention. In this paper we revisit some of the issues he raised, notably uneven development, global governance and central planning in the context of post-Hymer scholarly thinking and the shifting global landscape. In so doing we also speculate on the challenges and future of globalization.

Suggested Citation

  • Dunning, John & Pitelis, Christos, 2009. "The Political Economy of Globalization – Revisiting Stephen Hymer 50 Years On," MPRA Paper 23184, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:23184
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    File URL: https://mpra.ub.uni-muenchen.de/23184/1/MPRA_paper_23184.pdf
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    References listed on IDEAS

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    1. Rowthorn, Robert, 2006. "Stephen Hymer: An intellectual memoir," International Business Review, Elsevier, vol. 15(2), pages 111-114, April.
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    Cited by:

    1. Nina Aversano & Titos Ritsatos, 2015. "GlencoreXstrata...The Profitable and Untethered March to Global Resource Dominance!," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 1(2), pages 91-106, April.
    2. Jolta Kacani & Lucas Wunnik, 2017. "Using Upgrading Strategy and Analytics to Provide Agility to Clothing Manufacturing Subsidiaries: With a Case Study," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 18(1), pages 21-31, March.
    3. Azmeh, Shamel & Nadvi, Khalid, 2014. "Asian firms and the restructuring of global value chains," International Business Review, Elsevier, vol. 23(4), pages 708-717.
    4. Azmeh, Shamel & Nadvi, Khalid, 2014. "Asian firms and the restructuring of global value chains," LSE Research Online Documents on Economics 56666, London School of Economics and Political Science, LSE Library.

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    More about this item

    Keywords

    Stephen Hymer; International Political Economy; Institutions; Globalization; Sustainability;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

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