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What is new about global corporations? Interpreting statistical data on corporate internationalization

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  • Wortmann, Michael

Abstract

In the debate on globalization it is often argued that multinational corporations (MNCs) have gained increasing power due to their growth and due to new global or transnational structures and strategies. This paper presents empirical evidence - especially from various national statistics ignored in the debate so far - that contradicts these assumptions and allow a deeper understanding of the development of the structures of MNCs. These data indicate that foreign direct investment (FDI) is not a good indicator for the real growth of MNCs. Rising prices of cross-border M&A transactions lead to high growth-rates of FDI while the real growth of MNCs has developed quite steadily over many decades. In manufacturing only affiliates in the periphery of MNCs' home regions show an accelerated expansion (partly due to the opening-up of Eastern Europe and China). Over-all, the development of MNCs does not show significant new characteristics in the 1990s, neither in quantitative nor in qualitative terms. Despite the continuous tendency to globalize managerial coordination, truly integrated global configurations have not emerged. Network-like manufacturing structures - and thus also the mobility of production - are still confined regionally. The final section tries to develop an explanation for the fact that MNCs are assigned this important new role in the globalization debate.

Suggested Citation

  • Wortmann, Michael, 2000. "What is new about global corporations? Interpreting statistical data on corporate internationalization," Discussion Papers, Research Unit: Organization and Employment FS I 00-102, WZB Berlin Social Science Center.
  • Handle: RePEc:zbw:wzboem:fsi00102
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    Cited by:

    1. Dörrenbächer, Christoph, 2002. "National business systems and the international transfer of industrial models in multinational corporations: Some remarks on heterogeneity," Discussion Papers, Research Unit: Organization and Employment FS I 02-102, WZB Berlin Social Science Center.
    2. Keller, Dietmar & Jungnickel, Rolf, 2003. "Foreign-owned Firms in the German Labour Market," HWWA Discussion Papers 233, Hamburg Institute of International Economics (HWWA).
    3. Michael Dauderstädt, 2001. "Irland, der "keltische Tiger": Vorbild oder Warnung für ein wachsendes Europa?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 54(06), pages 34-41, October.
    4. Jungnickel, Rolf & Keller, Dietmar, 2003. "Foreign-Owned Firms in the German Labour Market," Discussion Paper Series 26149, Hamburg Institute of International Economics.
    5. Peer Hull Kristensen & Glenn Morgan, 2007. "Multinationals and institutional competitiveness," Regulation & Governance, John Wiley & Sons, vol. 1(3), pages 197-212, September.

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