Edited by Jonathan Michie
Chapter 9: The role and control of multinational corporations in the world economy
Multinational corporations (MNCs) have become an increasingly important force in the dynamics of the global economy. For example, according to the United Nations, during the last 30 years, the gross product of the foreign affiliates of multinational corporations increased faster than global GDP while foreign affiliate sales increased faster than global exports. Despite the fact that there has been a great deal of research during the last several decades on MNCs, there is no consensus on their effects. This chapter discusses that what is needed, instead of more deregulation and ‘free’ capital mobility, is a more democratic framework of multinational investment regulation to help countries and their citizens reap the benefits that can be associated with international investment.
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