Governance, Multinationals and Growth
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Governance, Multinationals and Growth

Edited by Lorraine Eden and Wendy Dobson

In Governance, Multinationals and Growth, leading scholars celebrate and build upon the pioneering work of Edward Safarian on multinational enterprises and foreign direct investment. The book explores the linkages among multinationals and foreign direct investment, corporate and public governance, and economic growth. The contributors pay particular attention to emerging policy issues that include the behavior of individual governments, intergovernmental organizations and civil society. In addition, they address linkages among MNEs, their governance and economic growth, and generic policy realities (and innovations) in a small-to-medium-sized economy.
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Chapter 14: Policy Roundtable: Life as Neighbor to an Economic Giant – Issues and Options

Wendy Dobson, Grant L. Reuber and Andrei Sulzenko


Wendy Dobson, Grant L. Reuber and Andrei Sulzenko This chapter consists of three papers presented at a roundtable on Canada’s priorities. While they deal with Canada, at the same time they illustrate some of the issues that other neighbors to the world’s large emerging economies can expect to face in future. The challenge that smaller neighbors face is to identify and pursue their own economic objectives in a turbulent and uncertain economic environment. The papers bring out three general objectives: (1) management of the bilateral trade and investment relationship to ensure market access for the smaller partner; (2) diversification of trade and investment relationships globally to reduce bilateral economic dependence; and (3) domestic economic policy frameworks to take advantage of opportunities in the changing world economy. Canada has successfully achieved the first objective. Management of what is still the world’s largest bilateral trade relationship has been successful overall, despite periodic trade disputes and emerging tensions over tighter US security restrictions. But Canadians have become increasingly dependent on the US market despite historical attempts to overcome this magnetic effect. The emergence of other economic giants may provide some offset, but this remains to be seen. Underpinning success in both objectives will be progress on the third: achieving a better productivity performance and greater flexibility in the domestic economy. While Canada has established a prudent macroeconomic policy framework, the same cannot be said of microeconomic policies where, as the papers point out, much remains to be done to establish...

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