@TechReport{iza:izadps:dp4393,
            	author={Tausch, Arno and Heshmati, Almas},
            	title={Re-Orient? MNC Penetration and Contemporary Shifts in the Global Political Economy},
            	year={2009},
	month={Sep},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={4393},
            	url={https://www.iza.org/index.php/publications/dp4393},
	abstract={This article analyses IMF estimates of economic growth in 180 countries (IMF, 2009), and inks the results to the "Re-orient" approach, put forward by Frank, 1998. With global economic gravitation shifting to the Indian Ocean/Pacific region, the article also analyses the role of MNC (foreign capital) penetration as the key variable of past quantitative dependency studies for contemporary economic growth and social performance. In a Schumpeterian fashion, MNC penetration reflects the power, which transnational oligopolies wield over local economies. Today, social polarization and stagnation increase as a consequence of the development model, based on high MNC penetration.},
	keywords={economic development;international relations and international political economy;technological change;growth},
            }