Oxford Scholarship Online: Multinationals and Global Capitalism

Multinationals and Global Capitalism From the Nineteenth to the Twenty First Century Jones, Geoffrey Professor of Business Administration, Department of Entrepreneurial Management, Harvard Business School Print publication date: 2004 (this edition) Published to Oxford Scholarship Online: April 2005 Print ISBN-13: 978-0-19-927209-9 doi:10.1093/0199272093.003.0010
10 Engines of growth? Geoffrey Jones This chapter reviews the historical evidence on the long-run impact of multinationals on their host economies. It is shown that although multinational served as ‘engines of growth’, negative outcomes have occurred. The spread of multinationals since the 19th century has coincided with an extraordinary growth in world incomes, and with the increasing gap between the rich and poor, the North and South. Keywords: multinationals, host economies, engines of growth, income gap, inequality, doi:10.1093/0199272093.003.0010