The Handbook of Globalisation, Third Edition
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The Handbook of Globalisation, Third Edition

Edited by Jonathan Michie

The past 30 years are often depicted as an era of globalisation, and even more so with the recent rise of global giants such as Google and Amazon. This updated and revised edition of The Handbook of Globalisation offers novel insights into the rapid changes our world is facing, and how best we can handle them.
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Chapter 9: The role and control of multinational corporations in the world economy

Gerald Epstein

Abstract

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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