“We live in a world where markets are not less important than countries and where multinational companies are not less important than governments” – this claim by Shimon Peres (cited in Rosenau, 1998, p.28) shows two essential developments in the area of international relations: nation states´ power has suffered a decrease, while transnational corporations (TNCs) have become more powerful political actors (Hildebrandt, 2003). Some of the TNCs have annual sales that are higher than the GDP of countries: 21 companies were among the 100 largest economies in 2000 if salaries and benefits, depreciation, amortization, and revenues summed (Sarfati, 2009).
The central question then is how much power TNCs nowadays have and what their actual role and influence in the area of international relations is. Do TNCs dictate the conditions under which they operate? Or are states still the unchallenged main actor of international relations? And how do TNCs, states, and nongovernmental organizations (NGOs) work together?
In this environment of economic globalization, global rules for global markets are essential. The question is how these should be implemented, and who should do so. Taking into account the mentioned declining regulatory capacity of nation states it becomes obvious that there have to be other institutions fulfilling the demand for international rules, in order to achieve a balance between market and social concerns (Brown, 2010). Taking these developments into consideration, this paper will discuss the research question, in how far TNCs are able to fill existing institutional voids, and what their motives are. Do they initiate actions because they are willing to do so, or are they forced to? The hypothesis is that TNCs are able to cope with existing institutional voids by using codes of conduct, which emerge as informal institutions that set international rules. In order to analyze this problem the paper will take the United Nations Global Compact (GC) as an example of one specific code of conduct that has been set up to create global rules.
Inhalt
1 Introduction
2 TNCs in a globalized world
2.1 Economic environment for TNCs
2.2 Political environment for TNCs
2.2.1 TNCs as political actors
2.2.2 State versus TNC power
2.2.3 TNCs within a triangular diplomacy
2.2.4 Public roles of TNCs
3 Self−regulation as a voluntary initiative of TNCs
3.1 Codes of Conduct
3.2 The UN Global Compact
3.3.1 The UN Global Compact Principles
3.3.2 How does the UN Global Compact work?
3.3.3 How do TNCs benefit from the Global Compact?
3.3.4 How does the UN benefit from the Global Compact?
3.3.5 Criticism of the UN Global Compact
3.3.6 Future of the Global Compact
3.4 General problems with the self−regulation of TNCs
4 Conclusion
5 References
- Citar trabajo
- Laura Jakobeit (Autor), 2010, Transnational Corporations as Political Actors, Múnich, GRIN Verlag, https://www.grin.com/document/167314
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