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Challenges of Global Economy

Author

Listed:
  • Jose G. VARGAS-HERNANDEZ

    (Departamento de Mercadotecnia y Negocios Internacionales, Centro Universitario de Ciencias Económico Administrativas, Universidad de Guadalajara, México)

  • Mohammad Reza NORUZI

    (Islamic Azad University, Bonab, Iran)

Abstract

One way to analyze the phenomenon of development in the era of globalization is through an approach involving interaction of the economic and the political system. The global economy has altered economic structures and social policies at the level of the nation-state, because the latter limits and impedes the processes of generation and capital accumulation. The purpose of this document is to analyze the emerging phenomenon of the transfer of state governance to global economic corporate governance. After determining the economic globalization processes driven by a corporate global economy, which affects the formation of globalised business – intergovernmental networks, we discuss their outcome and impact. Finally we outline the main challenges facing governance driven by a corporate global economy.

Suggested Citation

  • Jose G. VARGAS-HERNANDEZ & Mohammad Reza NORUZI, 2010. "Challenges of Global Economy," Timisoara Journal of Economics, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 3(1(9)), pages 41-48.
    • Handle: RePEc:wun:journl:tje:v03:y2010:i1(9):a04
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    References listed on IDEAS

    as
    1. Michael Borrus & John Zysman, 1997. "Globalization With Borders," Industry and Innovation, Taylor & Francis Journals, vol. 4(2), pages 141-166.
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    More about this item

    Keywords

    global economy; globalization; governance; corporate economics;
    All these keywords.

    JEL classification:

    • F01 - International Economics - - General - - - Global Outlook
    • F15 - International Economics - - Trade - - - Economic Integration
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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