Multinational enterprise: The old and the new in history and theory |
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| Affiliation: | 1. International Maize and Wheat Improvement Center (CIMMYT), Bangladesh Country Office, Bangladesh;2. WorldFish, Bangladesh and South Asia Office, Bangladesh;3. International Centre for Integrated Mountain Development, Kathmandu, Nepal;4. Department of Aquaculture and Fisheries, Institute of Agriculture and Animal Science, Bhairahawa, Nepal;5. Department of Agricultural, Food & Resource Economics, Michigan State University, United States |
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| Abstract: | This historical paper reveals that international economic integration is neither new or necessarily driven by technological change, and examines the traditional, pre-1940, “vertical” multinational, which invested up- and downstream of their innovation, in light of this fact. An analysis is given of how this older multinational relates to current, “horizontal” firms, which produce a number of products in several places. Using the language of industrial organization theory, this paper shows that technological discoveries of the late nineteenth century explain the shift in multinational organization and the emergence of global oligopolies. |
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