Lunch Time Research Seminars
8 August, 2013
12 pm - 1 pm
Multi(?)national Corporations and the State in Established Market Economies
Dr John Mikler
University of Sydney
Synopsis:The locations of the world’s largest corporationns are like a map of power for the world, so that as the emerging market economies are rising, so too are their corporations. The two are inseparable. However, the list of the world’s largest corporations demonstrates that they still predominantly come from the established economies. Furthermore, an analysis of their operations shows that their home bases remain crucial, and that the relationships they have with their home-state governments are therefore also crucial. In reality, there has never been a single global model for corporate-state relations. Instead, great institutional diversity between states with advanced, industrialized economies has persisted. In well-established economies, this diversity has become deeply institutionalized over time in national structures of governance. This is because states and corporations are bound by the institutional structures they have created and ‘inhabit’, and in which they become deeply embedded - economically, socially and politically. These structures evolve over time, with the potential for this evolution both enabled and constrained in certain ways depending on the path dependence of existing institutions. For example, the post-World War II developmental states of East Asia have evolved into what are often termed ‘coordinated market economies’, while the earlier developing Anglo Saxon economies have tended towards more liberal forms of governance. The latter, in turn, may increasingly be conceived of as ‘regulatory states’. As such, established market economies are likely to work with their institutions of governance in the future, as in the past, in response both to the global challenges and opportunities they face. Emerging market economies and their multinational corporations also have considerable ‘room to move’ as they develop new institutions of governance in the process of emerging, just as the established economies did before them.
All university staff and graduate research students are welcome to attend.
Location: The Boardroom, 276 Merewether Building