Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/35855
Authors: 
Tausch, Arno
Heshmati, Almas
Year of Publication: 
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: 
Document Type: 
Working Paper

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