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Re-Orient? Understanding Contemporary Shifts in the Global Political Economy
Innsbruck University.
Department of Food and Resource Economics, Korea University, Seoul, South Korea.ORCID iD: 0000-0002-7902-4683
2011 (English)In: Journal of Globalization Studies, ISSN 2075-8103, Vol. 2, no 2, 89-120 p.Article in journal (Refereed) Published
Abstract [en]

This article analyses the logic of the current global economic crisis by using the IMF estimates of economic growth in 180 countries (IMF 2009), and links the results to the ‘Re-Orient’ approach, put forward by Frank (1998). With global economic gravitation shifting to the Indian Ocean / Pacific region, the article also analyses the role of MNC (foreign capital) penetration as the key variable of past quantitative dependency studies for contemporary economic growth and social performance. In a Schumpeterian fashion, MNC penetration reflects the power, which transnational oligopolies wield over local economies. Today, social polarization and stagnation increase as a consequence of the development model, based on high MNC penetration.

Place, publisher, year, edition, pages
2011. Vol. 2, no 2, 89-120 p.
Keyword [en]
international relations and international political economy, economic development, technological change, growth, economic integration, oligopoly, market imperfection, cross-sectional models, spatial models, treatment effect models, quintile regressions
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-24666OAI: oai:DiVA.org:hj-24666DiVA: diva2:744001
Available from: 2014-09-05 Created: 2014-09-05 Last updated: 2016-01-14Bibliographically approved

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