From Hyperglobalization to “New Globalization”: Transnational Corporations, Geopolitical Shocks, and Resilient Global Value Chains
Palabras clave:
Transnational corporations (TNCs), International political economy (IPE), New globalization, Global value chains, Economic resilienceResumen
Transnational corporations (TNCs) are central to international political economy (IPE), yet their role remains contested amid geopolitical rivalry, economic shocks, and sustainability demands. This integrative review of 264 sources from Web of Science identifies five dominant perspectives in the literature: adverse globalization (critical views of TNC power), global development (TNCs as growth engines), glocal strategies (local adaptation approaches), hyperglobalization (borderless integration), and new globalization (post-2008 reconfiguration emphasizing resilience and new regionalization). These perspectives map onto established IPE theoretical frameworks, ranging from neo-Marxist dependency theory to neoliberal institutionalism, with “new globalization” emerging as the dominant paradigm. The analysis reveals a shift from polarized debates toward recognition of a more segmented, crisis-aware global economy. Persistent research gaps concern climate alignment and Global South perspectives. We derive implications for balanced policy approaches, resilient corporate strategies, and multilateral governance reform.Citas
Aguiar, T., & Micussi, P. (2022). Transnational Corporations and Capitalists from the Global South: Natura & Co. And the IEDI. Latin American Perspectives, 49(5), 86–99. https://doi.org/10.1177/0094582X221114824
Amin, S. (1976). L’impérialisme et le développement inégal. Éditions de Minuit. https://bac-lac.on.worldcat.org/oclc/299341522
Applbaum, K. (2000). Crossing borders: Globalization as myth and charter in American transnational consumer marketing. American Ethnologist, 27(2), 257–282. https://doi.org/10.1525/ae.2000.27.2.257
Arregle, J., Miller, T., Hitt, M., & Beamish, P. (2016). How does regional institutional complexity affect MNE internationalization? Journal of International Business Studies, 47(6), 697–722. https://doi.org/10.1057/jibs.2016.20
Athukorala, P., & Kohpaiboon, A. (2010). Globalization of R&D by US-based multinational enterprises. Research Policy, 39(10), 1335–1347. https://doi.org/10.1016/j.respol.2010.09.004
Baldwin, R. (2012). Global supply chains: Why they emerged, why they matter, and where they are going (No. 9103; CEPR Discussion Papers). C.E.P.R. Discussion Papers. https://ideas.repec.org/p/cpr/ceprdp/9103.html
Bartlett, C. A., & Ghoshal, S. (1990). Managing across borders: The transnational solution. Hutchinson Business.
Bartley, T. (2018). Transnational Corporations and Global Governance. Annual Review of Sociology, 44(1), 145–165. https://doi.org/10.1146/annurev-soc-060116-053540
Baud, C., & Durand, C. (2012). Financialization, globalization and the making of profits by leading retailers. Socio-Economic Review, 10(2), 241–266. https://doi.org/10.1093/ser/mwr016
Beret, P., Mendez, A., Paraponaris, C., & Richez-Battesti, N. (2003). R&D personnel and human resource management in multinational companies: Between homogenization and differentiation. International Journal of Human Resource Management, 14(3), 449–468. https://doi.org/10.1080/0958519022000031843
Berrill, J., & Hovey, M. (2018). An empirical investigation into the internationalisation patterns of UK firms. Transnational Corporations Review, 10(4), 396–408. https://doi.org/10.1080/19186444.2018.1551593.
Bolton, P., & Kacperczyk, M. (2021). Do investors care about carbon risk? Journal of Financial Economics, 142(2), 517–549. https://doi.org/10.1016/j.jfineco.2021.05.008
Boussebaa, M., & Faulconbridge, J. (2019). Professional service firms as agents of economic globalization: A political perspective. Journal of Professions and Organization, 6(1), 72–90. https://doi.org/10.1093/jpo/joy014
Buckley, P. (2006). Stephen Hymer: Three phases, one approach? International Business Review, 15(2), 140–147. https://doi.org/10.1016/j.ibusrev.2005.03.008
Buckley, P., & Hashai, N. (2020). Skepticism Toward Globalization, Technological Knowledge Flows, and the Emergence of a New Global System. Global Strategy Journal, 10(1), 94–122. https://doi.org/10.1002/gsj.1372
Bull, B., & Miklian, J. (2019). Towards global business engagement with development goals? Multilateral institutions and the SDGs in a changing global capitalism. Business and Politics, 21(4), 445–463. https://doi.org/10.1017/bap.2019.27
Chuang, M., Donegan, J., Ganon, M., & Wei, K. (2011). Walmart and Carrefour experiences in China: Resolving the structural paradox. Cross Cultural Management: An International Journal, 18(4), 443–463. https://doi.org/10.1108/13527601111179519
Contractor, F. (2022). The world economy will need even more globalization in the post-pandemic 2021 decade. Journal of International Business Studies, 53(1), 156–171. https://doi.org/10.1057/s41267-020-00394-y
Corporate Climate Responsibility Monitor. (2024). Decade of (in)action: Are corporate 2030 climate plans fit for purpose? Corporate Climate Responsibility Monitor. https://carbonmarketwatch.org/publications/corporate-climate-responsibility-monitor-2024/
Coucke, K., & Sleuwaegen, L. (2008). Offshoring as a survival strategy: Evidence from manufacturing firms in Belgium. Journal of International Business Studies, 39(8), 1261–1277. https://doi.org/10.1057/palgrave.jibs.8400403
de la Torre, J., Esperanca, J., & Martinez, J. (2011). Organizational Responses to Regional Integration Among MNEs in Latin America. Management International Review, 51(2), 241–267. https://doi.org/10.1007/s11575-011-0073-4
Devinney, T. (2011). Social Responsibility, Global Strategy, and the Multinational Enterprise: Global Monitory Democracy and the Meaning of Place and Space. Global Strategy Journal, 1(3–4), 329–344. https://doi.org/10.1002/gsj.21
Dios, S., & Cosenza, J. (2019). Corporate Social Responsibility, Multinational Companies and Economic Globalization. Dimension Empresarial, 17(4). https://doi.org/10.15665/dem.v17i4.1964
Dogan, A. (2010). Liberalization in international trade. Filosofia Unisinos, 11(2), 130–140. https://doi.org/10.4013/fsu.2010.112.02
Dunning, J. (1981). International Production and the Multinational Enterprise. Allen & Unwin.
Dunning, J. (1994). Multinational enterprises and the globalization of innovative capacity. Research Policy, 23(1), 67–88. https://doi.org/10.1016/0048-7333(94)90027-2
Etzioni-Halevy, E. (2002). Linkage deficits in transnational politics. International Political Science Review, 23(2), 203–222. https://doi.org/10.1177/0192512102023002006
Frank, A. (1966). The development of underdevelopment. New England Free Press.
Fraser, N. (2014). Can society be commodities all the way down? Post-Polanyian reflections on capitalist crisis. Economy and Society, 43(4), 541–558. https://doi.org/10.1080/03085147.2014.898822
Friedman, T. (1999). The lexus and the olive tree: Understanding globalization. Simon and Schuster.
Gerybadze, A., & Reger, G. (1999). Globalization of R&D: recent changes in the management of innovation in transnational corporations. Research Policy, 28(2–3), 251–274. https://doi.org/10.1016/S0048-7333(98)00111-5
Gilpin, R. (1987). The Political Economy of International Relations. Princeton University Press. https://doi.org/10.1515/9781400882779
Giulianotti, R., & Robertson, R. (2004). The globalization of football: A study in the glocalization of the “serious life.” British Journal of Sociology, 55(4), 545–568. https://doi.org/10.1111/j.1468-4446.2004.00037.x
Gjolberg, M. (2009). The origin of corporate social responsibility: Global forces or national legacies? Socio-Economic Review, 7(4), 605–637. https://doi.org/10.1093/ser/mwp017
Grosse, R., Gamso, J., & Nelson, R. (2021). China’s Rise, World Order, and the Implications for International Business. Management International Review, 61(1), 1–26. https://doi.org/10.1007/s11575-020-00433-8
Guillén, I., Rendón, A., & Morales, A. (2022). Is Organizational Resilience a Competitive Advantage? Mercados y Negocios, 46, 57–82. https://doi.org/10.32870/myn.vi46.7670.g6738.
Hale, T., Smith, S., Black, R., Cullen, K., Fay, B., Lang, J., & Mahmood, S. (2022). Assessing the rapidly-emerging landscape of net zero targets. Climate Policy, 22(1), 18–29. https://doi.org/10.1080/14693062.2021.2013155
Hall, P., & Soskice, D. (Eds.). (2001). Varieties of capitalism: The institutional foundations of comparative advantage. Oxford University Press. https://doi.org/10.1093/0199247757.001.0001
Hamdani, M., & Belfencha, I. (2024). Strategic implications of the US-China semiconductor rivalry. Discover Global Society, 2(1), 67. https://doi.org/10.1007/s44282-024-00081-5
Head, K., & Ries, J. (2002). Offshore production and skill upgrading by Japanese manufacturing firms. Journal of International Economics, 58(1), 81–105. https://doi.org/10.1016/S0022-1996(01)00161-1
Hymer, S. (1977). The international operations of national firms: A study of direct foreign investment. MIT Press.
Ikenberry, G. (2011). The Future of the Liberal World Order: Internationalism After America. Foreign Affairs, 90(3), 56–68.
Kindleberger, C. (1969). American business abroad: Six lectures on direct investment. Yale University Press.
Kobrin, S. (2017). Bricks and Mortar in a Borderless World: Globalization, the Backlash, and the Multinational Enterprise. Global Strategy Journal, 7(2), 159–171. https://doi.org/10.1002/gsj.1158
Krueger, D. (2008). The ethics of global supply chains in China—Convergences of East and West. Journal of Business Ethics, 79(1–2), 113–120. https://doi.org/10.1007/s10551-007-9393-5
Kwon, J., & Pohlmann, M. (2018). Globalization and Corporate Elites in South Korea: Education and Career Mobility. Korea Observer, 49(3), 543–568. https://doi.org/10.29152/KOIKS.2018.49.3.543
Latham, M., & Beaudry, M. (2001). Globalization and inequity as determinants of malnutrition: A clear need for activism. Ecology of Food and Nutrition, 40(6), 597–617. https://doi.org/10.1080/03670244.2001.9991671
LeBaron, G. (2015). Unfree Labour Beyond Binaries: Insecurity, Social Hierarchy and Labour Market Restructuring. International Feminist Journal of Politics, 17(1), 1–19. https://doi.org/10.1080/14616742.2013.813160
Lee, Y., & Lee, K. (2015). Economic Nationalism and Globalization in South Korea: A Critical Insight. Asian Perspective, 39(1), 125–151. https://doi.org/10.1353/apr.2015.0012
Lewis, W. (1954). Economic development with unlimited supplies of labour. University of Manchester.
Lipietz, A. (1985). Mirages et miracles: Problèmes de l’industrialisation dans le Tiers Monde. Editions La Découverte.
Liu, Z., & Uzunidis, D. (2021). Globalization of R&D, Accumulation of Knowledge and Network Innovation: The Evolution of the Firm’s Boundaries. Journal of the Knowledge Economy, 12(1), 166–182. https://doi.org/10.1007/s13132-016-0381-9
Lozano, J., & Boni, A. (2002). The impact of the multinational in the development: An ethical challenge. Journal of Business Ethics, 39(1–2), 169–178. https://doi.org/10.1023/A:1016360823980
Luo, Y., & Witt, M. (2022). Springboard MNEs under de-globalization. Journal of International Business Studies, 53(4), 767–780. https://doi.org/10.1057/s41267-021-00423-4
Madeuf, B., & Michalet, C. (1978). A New Approach to International Economics. International Social Science Journal, 30(2).
Michalet, C. (1976). Le capitalisme mondial [Global capitalism]. Presses universitaires de France.
Millar, C., & Choi, C. (2010). MNCs, Worker Identity and the Human Rights Gap for Local Managers. Journal of Business Ethics, 97, 55–60. https://doi.org/10.1007/s10551-011-1078-4
Mishra, A., & Dash, A. (2022). Connecting the Carbon Ecological Footprint, Economic Globalization, Population Density, Financial Sector Development, and Economic Growth of Five South Asian Countries. Energy Research Letters, 3(2). https://doi.org/10.46557/001c.32627
Moran, T. (1983). Multinational Corporations and the Politics of Dependence: Copper in Chile. Princeton University Press. https://doi.org/10.1515/9781400854424
Msiska, M., Ng, A., & Kimmel, R. (2021). Doing well by doing good with the performance of United Nations Global Compact Climate Change Champions. Humanities and Social Sciences Communications, 8(1), 321. https://doi.org/10.1057/s41599-021-00989-2
Neumayer, E., & De Soysa, I. (2005). Trade openness, foreign direct investment and child Labor. World Development, 33(1), 43–63. https://doi.org/10.1016/j.worlddev.2004.06.014
Petricevic, O., & Teece, D. (2019). The structural reshaping of globalization: Implications for strategic sectors, profiting from innovation, and the multinational enterprise. Journal of International Business Studies, 50(9), 1487–1512. https://doi.org/10.1057/s41267-019-00269-x
Prashantham, S., Eranova, M., & Couper, C. (2018). Globalization, entrepreneurship and paradox thinking. Asia Pacific Journal of Management, 35(1), 1–9. https://doi.org/10.1007/s10490-017-9537-9.
Prasanna, R., Jayasundara, J., Naradda Gamage, S., Ekanayake, E., Rajapakshe, P., & Abeyrathne, G. (2019). Sustainability of SMEs in the Competition: A Systemic Review on Technological Challenges and SME Performance. Journal of Open Innovation: Technology, Market, and Complexity, 5(4), 100. https://doi.org/10.3390/joitmc5040100.
Reddy, P. (1997). New trends in globalization of corporate R & D and implications for innovation capability in host countries: A survey from India. World Development, 25(11), 1821–1837. https://doi.org/10.1016/S0305-750X(97)00079-X
Robbins, P. (2004). Global visions and globalizing corporations: An analysis of images and texts from fortune global 500 companies. Sociological Research Online, 9(2). https://doi.org/10.5153/sro.920
Robertson, R. (1992). Globalization: Social theory and global culture. Sage.
Rodrik, D. (2011). The globalization paradox: Democracy and the future of the world economy. W.W Norton & Company. https://doi.org/10.1355/ae28-3k
Ruggie, J. G. (1982). International regimes, transactions, and change: Embedded liberalism in the postwar economic order. International Organization, 36(2), 379–415. https://doi.org/10.1017/S0020818300018993
Rugman, A. (2010). Globalization, regional multinationals and Asian economic development. Asian Business and Management, 9(3), 299–317. https://doi.org/10.1057/abm.2010.12
Schuh, A. (2007). Brand strategies of western MNCs as drivers of globalization in Central and Eastern Europe. European Journal of Marketing, 41(3–4), 274–291. https://doi.org/10.1108/03090560710728336
Shenkar, O. (2004). One more time: International business in a global economy. Journal of International Business Studies, 35(2), 161–171. https://doi.org/10.1057/palgrave.jibs.8400074
Snyder, H. (2019). Literature review as a research methodology: An overview and guidelines. Journal of Business Research, 104, 333–339. https://doi.org/10.1016/j.jbusres.2019.07.039
Sprague, J. (2009). Transnational Capitalist Class in the Global Financial Crisis: A Discussion with Leslie Sklair. Globalizations, 6(4), 499–507. https://doi.org/10.1080/14747730903298835
Steingard, D., & Fitzgibbons, D. (1995). Challenging the juggernaut of globalization: A manifesto for academic praxis. Journal of Organizational Change Management, 8(4), 30–54. https://doi.org/10.1108/09534819510090204
Stiglitz, J. E. (2002). Globalization and its discontents. Penguin Books.
Strange, S. (1988). States and markets. Pinter Publishers.
Strohmer, M. F., Easton, S., Eisenhut, M., Epstein, E., Kromoser, R., Peterson, E. R., & Rizzon, E. (2020). Disruptive Procurement: Winning in a Digital World. Springer International Publishing. https://doi.org/10.1007/978-3-030-38950-5
Teece, D. (2022). A wider-aperture lens for global strategic management: The multinational enterprise in a bifurcated global economy. Global Strategy Journal, 12(3), 488–519. https://doi.org/10.1002/gsj.1462
Thangavel, P., Pathak, P., & Chandra, B. (2022). Covid-19: Globalization-Will the Course Change? Vision: The Journal of Business Perspective, 26(1), 7–10. https://doi.org/10.1177/0972262920984571
Tomohara, A., & Takii, S. (2011). Does globalization benefit developing countries? Effects of FDI on local wages. Journal of Policy Modeling, 33(3), 511–521. https://doi.org/10.1016/j.jpolmod.2010.12.010
Toporowski, J. (2010). The transnational company after globalisation. Futures, 42(9), 920–925. https://doi.org/10.1016/j.futures.2010.08.025
Vahlne, J., Ivarsson, I., & Alvstam, C. (2018). Are multinational enterprises in retreat? Multinational Business Review, 26(2), 94–110. https://doi.org/10.1108/MBR-04-2018-0031
Vercelli, A. (2010). Mr Keynes and the “Liberals.” In R. W. Dimand, R. A. Mundell, & A. Vercelli (Eds.), Keynes’s General Theory After Seventy Years (pp. 63–90). Palgrave Macmillan UK. https://doi.org/10.1057/9780230276147_5
Vernon, R. (1971). Sovereignty at bay; the multinational spread of U.S. enterprises. Basic Books. https://bac-lac.on.worldcat.org/oclc/299887141
Vlados, C. (2019). Notes on the main analytical insufficiencies of the Marxist theoretical tradition for the comprehension of the contemporary global economy. Journal of Economic and Social Thought, 6(3), 132–155. https://doi.org/10.1453/jest.v6i3.1942
Vlados, C., & Chatzinikolaou, D. (2022). Mutations of the emerging new globalization in the post-COVID-19 era: Beyond Rodrik’s trilemma. Territory, Politics, Governance, 10(6), 855–875. https://doi.org/10.1080/21622671.2021.1954081
Vlados, C., & Chatzinikolaou, D. (2024). Russo-Ukrainian War and the emerging new globalization: A critical review of relevant research. The Japanese Political Economy, 50(1), 91–113. https://doi.org/10.1080/2329194X.2024.2309594
Vlados, C., & Chatzinikolaou, D. (2025). The emergence of the new globalization: The approach of the evolutionary structural triptych. Journal of Global Responsibility, 16(1), 139–161. https://doi.org/10.1108/JGR-04-2023-0063.
Wills, J. (1998). Taking on the CosmoCorps? Experiments in transnational labor organization. Economic Geography, 74(2), 111–130. https://doi.org/10.2307/144278
Witt, M. (2019). De-globalization: Theories, predictions, and opportunities for international business research. Journal of International Business Studies, 50(7), 1053–1077. https://doi.org/10.1057/s41267-019-00219-7
Wrigley, N., Coe, N., & Currah, A. (2005). Globalizing retail: Conceptualizing the distribution-based transnational corporation (TNC). Progress in Human Geography, 29(4), 437–457. https://doi.org/10.1191/0309132505ph559oa
Yamashita, N., & Fukao, K. (2010). Expansion abroad and jobs at home: Evidence from Japanese multinational enterprises. Japan and the World Economy, 22(2), 88–97. https://doi.org/10.1016/j.japwor.2009.10.001
Yeganeh, H. (2019). A critical examination of the social impacts of large multinational corporations in the age of globalization. Critical Perspectives on International Business, 16(3), 193–208. https://doi.org/10.1108/cpoib-01-2019-0001.
Descargas
Publicado
Cómo citar
Número
Sección
Licencia
Derechos de autor 2025 Dimos Chatzinikolaou
Esta obra está bajo una licencia internacional Creative Commons Atribución-NoComercial 4.0.
Mercados y Negocios por Departamento Mercadotecnia y Negocios Internacionales. Universidad de Guadalajara se distribuye bajo una Licencia Creative Commons Atribución-NoComercial 4.0 Internacional.
Basada en una obra en http://revistascientificas.udg.mx/index.php/MYN/.
Los autores conservan los derechos de autor.
