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The Evolution of the World Economy
The ‘Flying-Geese’ Theory of Multinational Corporations and Structural Transformation
Terutomo Ozawa
The world economy is near a critical crossroads, as a rising China, the greatest-ever beneficiary of US-led capitalism, ironically dreams big to replace America's supremacy as a new hegemonic power with a non-liberal world order. This third volume of the trilogy on ‘flying-geese’ theory reformulation explains how capitalism has changed industrial structures across the world. Using structural development economics and political economy analytics the unfolding changes in the global industrial landscape are examined in depth. Will the ‘flying-geese’ formation survive the formation that has produced the East Asian miracle and is hoped to spread to Africa?
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Contents
The ‘Flying-Geese’ Theory of Multinational Corporations and Structural Transformation
Terutomo Ozawa
PART I REFORMULATION IN STRUCTURALIST PERSPECTIVE
1 Why Akamatsu’s original theory needs reformulation
3 The ladder of economic development revisited – and elaborated
PART II HOME-GROWN MULTINATIONALS AT DIFFERENT STAGES OF GROWTH
5 The rise of multinationals from emerging markets: East Asian experiences
PART III FLYING-GEESE FORMATION AT A NEW CROSSROADS