Abstract
The Role of Multinational Corporations in Latin America and Asian Manufactured Exports
Highlights
The last 20 years have witnessed some remarkable structural changes in the world economy
In this paper we examine the role of foreign owned multinational corporations (MNCs) in these developments
Manufactured exports from the developing countries have expanded at rapid rates in recent decades
Summary
The last 20 years have witnessed some remarkable structural changes in the world economy. In this paper we examine the role of foreign owned multinational corporations (MNCs) in these developments If such firms, rather than domestic firms, are responsible for the increases in exports from developings countries, the domesticallyowned industrial base in the Third World has not changed much over the years.In that case, the 'industrialization by invitation', a term Arthur Lewis once coined, may not have resulted in much of an improvement in the domestic firms' innovativeness or inventiveness, in their management abilities, or in their technological capabilities. We pay special attention to two developing regions (Latin America and the four Newly Industrializing Countries,(NICs) in Asia) and six individual countries These countries receive the bulk of foreign direct investment in manufacturing in the developing countries and they are the main LDC exporters of manufactures.
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