IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-0-230-62670-6_2.html
   My bibliography  Save this book chapter

International Trade Regime, Big Business as ‘Market-makers’ and the Wealth of Nations

In: Newly Industrialising Economies and International Competitiveness

Author

Listed:
  • Doo-Jin Kim
  • Young-Chan Kim

Abstract

Under the globalisation era, scholars have suggested that it is essential to ‘bring MNCs back’ into the analysis of international political economy (IPE). Following this, in parallel with the process of bringing ‘the new style of MNCs of the 1990s’ into IPE (Eden, 1993: 26), we seek to adopt neo-Schumpeterian analyses of ‘big business and technology’ to provide a methodological insight into individual MNCs as market-makers rather than market-takers beyond the concept of the market vs. state dichotomy in the realm of IPE. Thus we need to explore neo-Schumpeterian perspectives which focus on the importance of large firms as well as knowledge-intensive technology, given that the transforming nature of new technology has entailed this new aspect of international competitiveness. To this end, two propositions are proposed. First, it should not be assumed that big business tends to be ‘safely subordinate’ to the market and to the state (Peterson, 1989: 390). Rather, since the 1980s industrial enterprises have emerged as countervailing forces against the state as well as the market. With specific regard to the relationship between the business firm and the market, Peterson (1989: 381, 390) argues that there has been a shift of power towards the corporation:

Suggested Citation

  • Doo-Jin Kim & Young-Chan Kim, 2006. "International Trade Regime, Big Business as ‘Market-makers’ and the Wealth of Nations," Palgrave Macmillan Books, in: Newly Industrialising Economies and International Competitiveness, chapter 2, pages 20-51, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-62670-6_2
    DOI: 10.1057/9780230626706_2
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-0-230-62670-6_2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.