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

Arno Tausch and Almas Heshmati

No 200911, TEMEP Discussion Papers from Seoul National University; Technology Management, Economics, and Policy Program (TEMEP)

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.

Keywords: International Relations and International Political Economy; Economic Development; Technological Change; and Growth (search for similar items in EconPapers)
JEL-codes: F50 O10 (search for similar items in EconPapers)
Pages: 43 pages
Date: 2009-08, Revised 2009-08
New Economics Papers: this item is included in nep-fdg
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http://temep-repec.my-groups.de/DP-11.pdf First version, 2009 (application/pdf)

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Working Paper: Re-Orient? MNC Penetration and Contemporary Shifts in the Global Political Economy (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:snv:dp2009:200911

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