Article

Globalization and the Multinational Enterprise

Peter Buckley

in The Oxford Handbook of Strategy

Published in print April 2006 | ISBN: 9780199275212
Published online September 2009 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199275212.003.0024

Series: Oxford Handbooks in Business and Management C

 Globalization and the Multinational Enterprise

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Globalization has both affected, and been caused by, the strategies of multinational enterprises (MNEs). The concept of globalization has become devalued by the ascendancy of use over meaning. Financial markets are already very closely integrated internationally, so much so that no individual ‘national market’ can have independent existence. Goods and services markets are integrated at the regional level and this coordination is largely policy-driven through institutions such as the European Union, NAFTA, ASEAN, etc. Labour markets however are functionally separate at the national level and here integration is largely resisted by national governments. Multinational enterprises are perfectly placed to exploit the differences in the international integration of markets. The presence of an international capital market enables capital costs to be driven to a minimum. The existence of regional goods and services markets enables firms to exploit economies of scale across several economies.

Keywords: multinational enterprises; globalization; European Union; financial markets; national market; services market

Article.  12105 words. 

Subjects: Business and Management ; International Business

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