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Title:Re-orient? MNC penetration and contemporary shifts in the global political economy PDF Logo
Authors:Tausch, Arno
Heshmati, Almas
Issue Date:2009
Series/Report no.:IZA Discussion Papers 4393
Abstract: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.
Subjects:International relations and international political economy
economic development
technological change
growth
JEL:F50
O10
Persistent Identifier of the first edition:urn:nbn:de:101:1-20091009948
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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