Tunnell, CJ; (1990) Transnational corporations and economic development policy: An evaluative study of South Wales. Masters thesis (M.Phil), UCL (University College London).

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Abstract

The current phase of economic development can be distinguished in terms of the internationalisation and integration of the global production system. Without doubt the major actor in creating this global system has been the transnational corporation (TNC) whose location strategies increasingly shape the economic destiny of particular places. This study seeks to examine how economic development policy initiatives have been able to influence TNCs' location behaviour and thereby improve the position of particular localities. In this respect, the study examines the specific case of South-East Wales; a sub-regional that has been remarkably successful in attracting TNC investment projects and has been subject to a plethora of policy initiatives. In terms of evaluation, it is suggested that policies have been relatively successful in influencing TNC behaviour, although this role has increasingly been contingent on a number of other implicit public policy areas, particularly trade and competition policies, as well as the impact of other areas of public expenditure most notably on infrastructure. Potentially, if all these policy areas were applied in a coordinated framework, it is suggested that public policy could have a more effective role in shaping the outcomes of TNCs on local areas. In terms of implications, it is noted that TNCs have contributed to some modest job gains, as well as to the introduction of new product and process technologies. However, in the longer term, rising capital intensities associated with these new processes, could limit job gains and may contribute to an increasing polarisation of skills.

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