Abstract
Traditionally, foreign direct investment (FDI) was viewed as part of the capital account and the macroeconomics side of international economics. However, while FDI remains an important topic in international macroeconomics, we now understand that multinational firms play a major role in the modern world and must be considered as a vital part of the real production side of international economics. The standard figure one hears is that the sales of foreign affiliates of multinational corporations is now about five times to the total value of world trade.
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© 2013 James R. Markusen
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Markusen, J.R. (2013). Multinational Firms. In: Bernhofen, D., Falvey, R., Greenaway, D., Kreickemeier, U. (eds) Palgrave Handbook of International Trade. Palgrave Macmillan, London. https://doi.org/10.1007/978-0-230-30531-1_8
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DOI: https://doi.org/10.1007/978-0-230-30531-1_8
Publisher Name: Palgrave Macmillan, London
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