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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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About the author

The ‘Flying-Geese’ Theory of Multinational Corporations and Structural Transformation

Terutomo Ozawa

Terutomo Ozawa received an MBA and a PhD from Columbia University, USA. He was, inter alia, a research associate at MIT’s center for Policy Alternatives, USA (1975–76 academic year); an invited visiting scholar at Cambridge University’s Faculty of Economics and Politics, UK (1982–83 academic year); an Esmee Fairbain Senior Research Fellow, University of Reading, UK (May 1983); a senior professional fellow, Japan Foundation, Japan (June–August 1987); a John M. Olin Distinguished Visiting Professor at Colorado School of Mines, USA (fall semester 1987); a short-term visiting professor at the University of Paris I (Sorbonne), France, a few times over May 1993 to January 1998; a visiting professor at Tokyo University’s Institute of Social Science, Japan (fall semester 1996); a visiting senior research fellow at the East-West Center, Hawaii, USA (February–April 2001); and a visiting professor at International Christian University, Tokyo, Japan (spring quarter 2004).

His publications have appeared in the American Economic Review, Journal of Economic Perspectives, Economica, Oxford Economic Papers, Cambridge Journal of Economics, World Politics, Global Policy, and Journal of Asian Studies among others. He has so far published 12 books, including from MIT Press and Princeton University Press. He has served as a consultant for the Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), Economic and Social Commission for Asia and the Pacific (UNESCAP), United Nations Institute for Training and Research (UNITAR), World Bank, Asian Development Bank, and Asian Productivity Organization. His current research interest is in multinational corporations, economic development and structural change, and global political economy. He was president of the International Trade and Finance Association in 2003.