Emerging economies and the challenge of globalization

Globalization, the multinational firm, and emerging economies have marked the world economic landscape during the last two decades. They will likely continue to define international economic activity in the foreseeable future. This opening piece of the conference on globalization, the multinational firm, and emerging economies helps frame these concepts in today's economic landscape. It explores the impact globalization and the multinational firm have had, and will continue to have, on the emergence of newly industrializing economies onto the world scene and critically evaluates policy options typically followed by these economies to arrive at sustainable economic progress. It concludes with recommendations for future explorations of the interplay of globalization, the multinational firm, and economic emergence.