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date: 29 September 2020

Abstract and Keywords

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

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