Multinationals And The Restructuring Of The World Economy

This volume charts the ways in which multinational corporations contributed to the restructuring of the world economy, paying particular attention to the spatial consequences of, and responses to, their operations at a number of scales. The book takes as its theme the differential spatial outcomes of the restructuring of different types of multinational corporation.

An analytical account of the current crisis of global capitalism. Kolko examines what the global capitalist system means today--for the United States, Japan, and Western Europe, for the less developed nations, and for the centrally planned economies of Eastern Europe, Russia, and China. The author's analysis moves from changes in banking and the service sector to the new technology industries; the dilemmas of world debt, efforts to restructure world trade, and the nature of monetary relations. Kolko describes the various strategies to restructure the global economy and maintains that reform on a national scale cannot begin to cope with the crisis. She shows how and why the diverse efforts to restructure the global order reflect the character of the current crisis. ISBN 0-394-55920-7: $24.95.

First published in 1995. Routledge is an imprint of Taylor & Francis, an informa company.

This volume charts the ways in which multinational corporations contributed to the restructuring of the world economy, paying particular attention to the spatial consequences of, and responses to, their operations at a number of scales. The book takes as its theme the differential spatial outcomes of the restructuring of different types of multinational corporation.

Depending on one's point of view, multinational enterprises are either the heroes or the villains of the globalized economy. Governments compete fiercely for foreign direct investment by such companies, but complain when firms go global and move their activities elsewhere. Multinationals are seen by some as threats to national identities and wealth and are accused of riding roughshod over national laws and of exploiting cheap labor. However, the debate on these companies and foreign direct investment is rarely grounded on sound economic arguments. This book brings clarity to the debate. With the contribution of other leading experts, Giorgio Barba Navaretti and Anthony Venables assess the determinants of multinationals' actions, investigating why their activity has expanded so rapidly, and why some countries have seen more such activity than others. They analyze their effects on countries that are recipients of inward investments, and on those countries that see multinational firms moving jobs abroad. The arguments are made using modern advances in economic analysis, a case study, and by drawing on the extensive empirical literature that assesses the determinants and consequences of activity by multinationals. The treatment is rigorous, yet accessible to all readers with a background in economics, whether students or professionals. Drawing out policy implications, the authors conclude that multinational enterprises are generally a force for the promotion of prosperity in the world economy.

This book provides an excellent overview of the changing relationship between multinationals and economic development as globalization has taken off, and substantially altered the conditions for catching up as opposed to falling behind. The authors move very effectively between the discussion of concepts that are crucial to understanding such changes, and various empirical evidence on foreign direct investment, trade, inter-firm relationships, institutional settings and competitiveness. John Cantwell, Rutgers University, US The globalisation of the world economy has undermined many of the old certainties regarding foreign direct investment flows. Dunning and Narula use the concepts of alliance capitalism and technological evolution to analyse recent trends in international business. They identify the challenges to government policymakers from regional integration, and the consequent intensification of political competition to attract high-technology investment. This masterful and incisive analysis brings great clarity to perplexing issues, and delineates a cogent industrial policy agenda for a globalised economy. Mark Casson, University of Reading, UK This book offers an important contribution to the contemporary debate on the role of multinational enterprises (MNEs) in economic development in an increasingly globalizing, knowledge-intensive and alliance-based world economy. Each of the chapters touches upon critical issues now facing the global economy. They also address the growing importance of innovative activities of firms in promoting economic development and industrial restructuring, as well as the role of FDI and cooperative agreements in furthering this goal. Emphasis is placed on the increasingly significant role of national governments in promoting the intellectual capital of their indigenous resources and capabilities, and of inter-firm collaborative alliances. Globalization and technological advances are reconfiguring the ingredients of the competitiveness of firms and nation states. They are emphasizing the increasingly important role of both private and social institutions as determinants of the success of corporations and of the economic development of societies. Covering a range of issues from economic development, alliance capitalism, government policies, regional integration and industrial development, this authoritative book will greatly appeal to academics and economists, especially those interested in international business and management.

For many years to come this volume. . .is surely going to be the ultimate reference work on international business. . . thanks to Dunning and Lundan, have at their disposal, a wealth of relevant data, as well as theoretical and empirical analyses, which will enable them to assess the capabilities, contributions and challenges posed by the multinational enterprises to the global economy. Seev Hirsch, International Business Review Multinational Enterprises and the Global Economy has become a classic in international business. . . Yet , the book s second edition is even better than the first, in part because of Professor Dunning s wise decision to choose Dr Lundan as his co-author and to draw upon her deep knowledge of various strands of research on business government relations and the societal effects of firm behaviour. . . In addition to being a remarkably useful reference book, Multinational Enterprises and the Global Economy is the first book any IB doctoral student should read to understand the significance and richness of IB scholarship as it has developed over the past 50 years. Alain Verbeke, Journal of International Business Studies The second edition of Multinational Enterprises and the Global Economy provides unparalleled coverage not only of the literature relevant to IB research but also of the evolution of IB in the world economy. Dunning and Lundan offer powerful insights into the societal effects of MNEs and the role of business government relations in the IB context. Journal of International Business Studies This wonderful book offers the definitive synthesis of the modern literature on the economic aspects of international business. It is encyclopedic yet full of incisive insights. It is a creative masterpiece which unbundles the DNA of the multinational enterprise and shows how it is the cornerstone of the field of international business. Alan M. Rugman, University of Reading, UK The rise of the multinational enterprise, and the consequent globalisation of the world economy, was arguably the single most important phenomenon of the second half of the twentieth century. This magisterial book, written by two leading authorities, examines this phenomenon in depth. It explains how foreign investment by multinationals diffused advanced technologies and novel management methods, driving productivity growth in Europe, Asia and North America; however, economic inequalities were reinforced as rich countries attracted more foreign investment than poor ones. This new edition of a classic work is not only an authoritative guide to contemporary multinational business, but a major historical resource for the future. Mark Casson, University of Reading, UK This thoroughly updated and revised edition of a widely acclaimed, classic text will be required reading for academics, policymakers and advanced students of international business worldwide. Employing a distinctive and unified framework, this book draws together research across a range of academic fields to offer a synthesis of the determinants of MNE activity, and its effects on the economic and social well-being of developed and developing countries. Unique to the new edition is its focus on the institutional underpinnings of the resources and capabilities of MNEs, and the role of MNE activity in transmitting and facilitating institutional change. Since the initial publication of this book more than a decade ago, the economic, managerial and social implications of globalisation and technological advancement have become even more varied and prominent. Accompanying these developments, there has been a rise in scholarly interest in interdisciplinary research addressing the important challenges of an ever-changing physical and human environment. Drawing on articles and books from international business and economics, as well as economic geography, political economy and strategic management, a systematic overview of the developments in scholarly thinking is prese