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Notes on Transnational Corporations
             and the U.N.U.'s Course on Transnational Corporations
              -by Róbinson Rojas - 1996
From United Nations University:

The growth and patterns of international production:
lessons for a contemporary analysis of the TNC

2.1 Introduction
   a) the growth of the TNC in the context of international economic,
      technological and political change
   b) the TNC as:
      i) an extension of the domestic multiactivity firm; the concept
         of the cross-border value added chain
     ii) an alternative to 
                          (1) the market;
                          (2) collaboration between firms and/or
                              governments as a modality for coordinating
                              production and transactions across national

2.2 The emergence and growth of TNCs
   a) the early beginnings
      i) chartered companies supported by State to exploit new lands and
         trading routes e.g. the East India Company and the United African
     ii) wealthy individuals and families engaged in commerce, banking
         and land development
    iii) migrant populations

   b) the start of the modern TNC 1870-1914
      i) the background of the technological and organisational advances
         of the last quarter of the 19th century; the emergence of
         MANAGERIAL CAPITALISM; the internationalisation of trade and
         investment; the TNC as an instrument of economic policy of the
         colonial powers
     ii) major types of FDI:
         - expatriate (migrant capitalism)
         - owner managed investment
         - finance capitalism
         - trading investments
    iii) motivations
         - to exploit natural resources for export to investing
           countries (the resource seekers)
         - to supply local markets with goods which could not be
           provided (or provided as cheaply) by exports from the
           home country: i.e. market oriented investments (the
           market seekers)
         - to foster a global or regional corporate strategy
           i.e. rationalized investment (the efficiency seekers)

   c) the inter-war years 1918-1939
      i) the impact of protectionism on foreign direct investment
     ii) rationalisations and mergers: vertical, horizontal and
    iii) emergence of new financial and organizational methods
     iv) concentration of international production
      v) early FDI in developing countries

   d) the post war period up to 1960
      i) U.S. economic hegemony
     ii) surge in technological development
    iii) improved international communications and transport
     iv) stable exchange rates
      v) decolonization in Africa, Asia, the Pacific and the Caribbean
     vi) TNC import-substitution investment in developing regions
         (particularly Latin America)

   e) the latter post-war period 1960-1990s
      i) slower world economic growth, rising prices and instability
         of exchange rates; US recovery in the 1980s, the debt crisis
         and the slow down in FDI flows to most developing countries;
         the collapse of bureaucratic socialist economies, and a surge
         in FDI flows to some developing countries, notably China
     ii) new technological advances, especially in information
         technology towards end of period
    iii) European recovery and depression, and the way towards the
         European Union (i.e. the proposed completion of the internal
         market by 31 December 1992). The Japanese challenge, and the
         industrialisation of several Asian and Pacific Rim countries
     iv) the opening up of East Europe and developing countries to
         multinational commerce
      v) confrontation between governments and TNCs in 60s and 70s;
         followed by some degree of reconciliation
     vi) growth of service activities in the world economy
    vii) swing to the right in the political regimes of the majority
         of countries; the deregulation and liberalisation of markets
   viii) movement towards regional economic integration (EEC, LAFTA,
     ix) evolution in developing countries' macro economic strategies
         and policies and growing ability to negotiate effectively
         with TNCs in some cases and difficulties in attracting
         foreign investment in other cases
      x) switch in development strategies of many developing countries
         from import substitution to export led growth. Growing exports
         of manufactures by TNCs. Participation of TNCs in export
         processing zones
     xi) response of TNCs to economic recession, structural change and
         the new technologies of late 1970s and the 1980s. The role of
         TNCs in structural adjustment programmes in developing
    xii) the emergence of co-operative agreements among TNCs; the
         globalisation of corporate strategies
   xiii) debt equity swaps and the role of TNCs

Dunning in Casson(1983) Dunning(1982) Drurker(1986)
See Bibliography

Notes on transnational corporations and U.N.U.'s course on transnational corporations
--1. The growth and patterns of international production
--2. The current role of TNCs in the world economy
--3. The determinants of TNC activity
--4. Empirical testing of theories of international production
--5. Assessing the international market
--6. The impact of TNCs on development
--7. TNCs and the balance of payments
--8. TNCs and employment
--9. TNCs and the nation-state
10. TNCs and economic integration
11. TNCs in manufacturing activities
12. TNCs in the service sector
13. The spread of third world TNCs
14. Reactions to TNCs: national policies
15. Reactions to TNCs: multilateral
16. The future of TNCs
17. Bibliography

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