Overview
Written by leading academic in the field
First work to consider the interplay of Foreign Direct Investment (FDI), Multinational Enterprises (MNEs), and Global Value Chains (GVCs)
Provides a unique compilation of historical and financial perspectives
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Table of contents (9 chapters)
Keywords
- Global value chains
- Multinational enterprises
- Foreign direct investment
- Emerging economies
- Globalization
- Perfect competition-based theories
- Hymer
- Vernon
- Krugman
- Dunning
- Trade complementing theory
- Market imperfection theories
- Transition economies
- Income inequality
- Intra-firm trading
- Transfer pricing
- Automobile industry
About this book
This book presents an in-depth understanding of the transformation of modern economy in the twenty-first century by examining the interface and interplay of three key forces of contemporary global economy—Foreign Direct Investment (FDI), Multinational Enterprises (MNEs), and Global Value Chains (GVCs)—and how the emerging nexus of these forces has already ushered in revolutionary transformation in global production, investment, trade, and employment in recent decades.
A distinctive feature of the book is that it situates the contemporary GVC revolution—that envisages fragmentation and dispersion of production processes across the world based on competitive costs and quality—as a natural progression of the traditional FDIs-MNEs nexus, which emphasized internationalization of production and trade in search of profits, resources, markets, or cheap labour. Moreover, the book provides a comprehensive analysis, from historical, theoretical and empirical perspectives, of both traditional FDIs-MNEs Nexus that dominated the world economy until the end of the twentieth century, and of the New Nexus of FDIs-MNEs-GVCs, that has opened grand opportunities for global prosperity by providing short-cut paths to industrialization and economic growth for less developed countries.         ÂAs an exemplar, the book examines GVCs in automobiles—a medium-tech manufacturing activity with numerous backward and forward linkages—to demonstrate how the FDI-MNE-GVC interface in this sector has wedged industrialization, employment, and trade in six emerging countries/regions—Brazil, Central and Eastern Europe, China, India, Mexico and Thailand.
Authors and Affiliations
About the author
Caf Dowlah is an Economics professor at the City University of New York. He previously taught at several universities and colleges in the United States, Japan, and Bangladesh, and previously worked for the World Bank and the United Nations. Over the years, he has published over three dozen papers on international trade and economic development in refereed journals and edited volumes. His papers appeared in the Journal of International Trade Law and Policy, World Economy, Law and Development Review, Asia-Pacific Development Journal, International Journal of Social Welfare, International Journal of Social Economics, Journal of Economic Issues, Finance & Development, the Indian Journal of Industrial Relations, and the Bangladesh Developmental Studies. He has one previously published book, and has contributed many chapters in edited volumes published by Oxford University Press, Cambridge University Press, the World Bank, and the United Nations.Â
Bibliographic Information
Book Title: Transformations of Global Prosperity
Book Subtitle: How Foreign Investment, Multinationals, and Value Chains are Remaking Modern Economy
Authors: Caf Dowlah
DOI: https://doi.org/10.1007/978-3-319-71105-8
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s) 2018
Hardcover ISBN: 978-3-319-71104-1Published: 30 April 2018
Softcover ISBN: 978-3-030-10014-8Published: 26 January 2019
eBook ISBN: 978-3-319-71105-8Published: 19 April 2018
Edition Number: 1
Number of Pages: XXV, 408
Number of Illustrations: 59 b/w illustrations
Topics: International Economics, Development Economics, International Business, Economic Growth, International Political Economy