Globalisation, multinational enterprises, and post-keynesian theory

par Ryan Woodgate

Projet de thèse en DOCTORAT en SCIENCES ECONOMIQUES

Sous la direction de Eckhard Hein.

Thèses en préparation à Paris 13 en cotutelle avec Berlin School of Economics and Law , dans le cadre de École doctorale Érasme (Villetaneuse, Seine-Saint-Denis) depuis le 28-01-2020 .


  • Résumé

    The most recent wave of globalisation is one of the defining economic processes of modern times and has, as such, warranted a great deal of examination within post-Keynesian theory. However, one of the unique characteristics of modern globalisation—namely the rise of the multinational enterprise (MNE) in number, size, and influence—has received far less attention. The research proposed herein therefore aims to model the macroeconomic impact of MNEs within a post-Keynesian framework. Some issues related to globalisation have been addressed in the post-Keynesian literature, but this work has been predominantly related to trade and capital flows (e.g. Stockhammer, Hein, and Grafl 2011, Blecker and Setterfield 2019, Part III). In fact, there is little to no formal modelling of globalised production chains, where factors of production are spread across borders and shifted as costs (related to wages, exchange rates, taxes, subsidies, and regulation) and demand change. Given that data from the OECD (2019) show that the gross value added of MNEs around the world amounts to 31% of global GDP and that 66% of exports around the world are due to MNEs, this gap in the literature can hardly be explained by its lack of empirical importance. Quite on the contrary, the data suggests a formal model of the impacts of MNEs would be of great value in understanding modern globalisation and, in particular, the growth strategies, strengths and vulnerabilities of countries like China, Singapore, Ireland, Hungary, and many other highly MNE-dependent countries. Indeed, the importance of MNEs and the fact that their effects have been underresearched has been stressed by Palley (2015, 2018). Hence this doctoral project would go a great way towards bridging this gap in the literature. [For references, see attached "PhD Expose" document]


  • Résumé

    The most recent wave of globalisation is one of the defining economic processes of modern times and has, as such, warranted a great deal of examination within post-Keynesian theory. However, one of the unique characteristics of modern globalisation—namely the rise of the multinational enterprise (MNE) in number, size, and influence—has received far less attention. The research proposed herein therefore aims to model the macroeconomic impact of MNEs within a post-Keynesian framework.