THE IMPORTANCE OF TRANSNATIONAL CORPORATIONS IN THE WORLD

Abstract

Nowadays, it is believed that transnational corporations, in addition to states, international institutions and organizations, have become a major and extremely active subject of globalization with very important influence on changes in the global economy. The functioning of global companies, however, raises a lot of controversy. On one hand, it can bring a number of specific benefits (new investments, jobs) to the host countries, on the other hand, they face a lot of critics to their operation, attempts to influence national legislation and transfer of profits abroad. The article attempts to assess the economic significance of these entities in the modern economy.