Transnational Corporations and International Production

Grazia Ietto-Gillies, Emeritus Professor of Applied Economics, London South Bank University and Visiting Professor, Birkbeck University of London, UK

'Grazia Ietto-Gillies' book - now in its 3rd edition - has a well-earned cult following. There is no other book that provides such a comprehensive, detailed and updated overview of theoretical approaches to the study of transnational corporations (TNCs) as the main actors in globalisation processes. As for the previous editions, Ietto-Gillies' book remains unique for its exhaustive coverage of the major theories of TNCs, and for following a history of economic thought perspective surprisingly seldom applied to this topical field of research. Achievements and gaps of the theoretical body of literature looking at determinants and impacts of TNC behaviours and strategies, in a comparative perspective, are subject to an extraordinarily thoughtful and original analysis. I recommend the book highly for students at all levels of higher education; it should be considered necessary for any scholar seeking to advance our knowledge on one of the most important drivers of modern societies world-wide.'--Simona Iammarino, London School of Economics, UK'This book deals with the important issue of integrating the study of the transnational corporation into economics. Ietto-Gillies places the different theories on the TNC into its wider theoretical and historical context and offers the reader an excellent opportunity to get a deeper understanding of not only the circumstances under which a theory has developed but also which issues are addressed by the theory - and which issues are not addressed. The book contains brilliant analyses and comparisons of basic theories within the field and is an inspiring source for every scholar within the international business field.'--Mats Forsgren, Uppsala University, Sweden'Grazia Ietto-Gillies' book remains the best introduction that we have to theories of international business. It offers an especially comprehensive guide to the origin and evolution of theories of transnational corporations grounded in Economics or Strategy. The latest edition relates to all the major contemporary debates in the field.'--John Cantwell, Rutgers University, US

• Contents: Introduction PART I EVOLUTION AND CONCEPTS 1. Evolution and and growth 2. Modalities of TNCs’ operations PART II PRE-WWII APPROACHES TO INTERNATIONAL INVESTMENT Introduction to Part II 3. Marxist approaches 4. Foreign investment within the neoclassical paradigm PART IIIMODERN THEORIES Introduction to Part III 5. Hymer’s seminal work 6. The product life cycle and international production 7. Oligopolistic reactions and the geographical pattern of FDI 8. Currency areas and internationalization 9. Internalization and the transnational corporation 10. Dunning’s eclectic framework 11. Stages in the internationalization process: the Uppsala Model 12. Evolutionary theories of the TNC 13. New trade theories and the activities of TNCs 14. Transnational monopoly capitalism 15. Nation-states and TNCs’ strategic behaviour 16. The transnational corporation as a network 17. Bundle of resources, dynamic capabilities and the TNC 18. Theories of the TNC and the XXI century PART IV EFFECTS Introduction to Part IV 19. Boundaries in the assessment of effects 20. Innovation and the TNCs 21. Effects on Labour 22. Effects on Trade 23. Wider effects from the balance of payments to fiscal revenues References Index