Transnational Corporations and the Global Economy

This book brings together papers written by representatives from UN agencies and academics who take a fresh look at the expanding role of transnational corporations and foreign direct investment in the world economy. These papers deal with such issues as

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UNU WORLD INSTITUTE FOR DEVELOPMENT ECONOMICS RESEARCH (UNU/WIDER) was established by the United Nations University as its first research and training centre and started work in Helsinki, Finland, in 1985. The purpose of the Institute is to undertake applied research and policy analysis on structural changes affecting the developing and transitional economies, to provide a forum for the advocacy of policies leading to robust, equitable and environmentally sustainable growth, and to promote capacity strengthening and training in the field of economic and social policy-making. Its work is carried out by staff researchers and visiting scholars in Helsinki and through networks of collaborating scholars and institutions around the world.

UNU World Institute for Development Economics Research (UNU/WIDER) Katajanokanlaituri 6 E, F1N-OOI60 Helsinki, Finland

Transnational

Corporations and the Global Economy

Edited by

Richard Kozul-Wright UN Conference on Trade and Development Geneva

and

Robert Rowthorn University of Cambridge

for the United Nations University/World Institute for Development Economics Research Foreword by Giovanni Andrea Cornia



~~ The United Nations ~ University

WIDER World Institute for Development Economics Research

First published in Great Britain 1998 by

MACMILLAN PRESS LTD

Houndrnills, Basingstoke, Hampshire RG21 6XS and London Companies and representatives throughout the world A catalogue record for this book is available from the British Library.

ISBN 978-1-349-26525-1 ISBN 978-1-349-26523-7 (eBook) DOI 10.1007/978-1-349-26523-7 First published in the United States of America 1998 by

ST. MARTIN'S PRESS, INC.,

Scholarly and Reference Division, 175 Fifth Avenue, New York, N.Y. lOOIO

ISBN 978-0-312-17724-9 Library of Congress Cataloging-in-Publication Data Transnational corporations and the global economy / edited by Richard Kozul-Wright and Robert Rowthorn. p. cm. A collection of papers "originally presented at a conference sponsored by WIDER at King's College, Cambridge, in September 1995"-Pref. Includes bibliographical references and index.

ISBN 978-0-312-17724-9 (cloth) I. International fmance-Congresses. 2. International business enterprises-Finance-Congresses. 3. Investment, Foreign-Congresses. I. Kozul-Wright, Richard, 1959- II. Rowthom, Bob. HG388l.T6533 1997 332'.042-DC21 97-22917 CIP

© The United Nations UniversitylWorld Institute for Development Economics Research 1998

Softcover reprint of the hardcover 1st edition 1998 978-0-333-68957-8 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London WIP 9HE. Any person who does any unauthorised act in relation to this publication may be liable to