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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.

Suggested Citation

  • Arno Tausch & Almas Heshmati, 2009. "Re-Orient? MNC Penetration and Contemporary Shifts in the Global Political Economy," TEMEP Discussion Papers 200911, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Aug 2009.
    • Handle: RePEc:snv:dp2009:200911
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    References listed on IDEAS

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    More about this item

    Keywords

    International Relations and International Political Economy; Economic Development; Technological Change; and Growth;
    All these keywords.

    JEL classification:

    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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