TNC evolution and the emerging investment-development paradigm

In order to better understand the role transnational corporations (TNCs) can and do play in the process of development, this article first examines how TNCs’ strategies and structures have evolved and how, in expanding their activities to new markets, they have engaged in a process of institutional co-evolution with other stakeholders. The article then turns to the role of Governments in facilitating development, particularly in relation to the emerging hybrid processes of public and private rule making involving TNCs that area central to the emerging investment development paradigm.