CONCEPTS OF INTERNATIONAL BUSINESS IN THEORETICAL DISCOURSE OF OFFSHORIZATION PROCESSES OF ECONOMIC ACTIVITY
Abstract
Financial and economic activity of business structures in global conditions is characterized by significant expansion of scale and diversification of organizational and managerial forms, innovation and digitalization of production processes, radical modernization of technological base in the format of industry 4.0, as well as systematic development of corporate networks and further deeper integration into them of national economies of almost all countries of the world. Under such conditions and taking into account the dominance of multinational enterprises (MNEs) in the world economic structure, the question of utilization of mechanisms and tools of offshorization of economic operations raised to a great extend in the context of realization of diversification of outsourcing corporate strategies, tax planning and erosion of tax base. Since 2010s, the world theoretical discourse of international business outlines offshorization of economic activity into a separate and independent direction of the general theory of competitive advantages and factors of production, although a scientific interest in this issue originated in classical political economy and theories of international trade, direct and portfolio foreign investment, multinational enterprises, management and the international division of labor. The article reveals the transformational changes that have undergone the essential content, implementation mechanisms, forms and levels of offshorization of business activities under the influence of leading patterns and trends in the development of world economy at different stages of its evolutionary progress. It is proved that the theoretical qualification of business offshoring always faces significant methodological difficulties related to the constant diversification of international business and the increasing complexity of its organizational and managerial structures, as well as the diversification of business and state interaction in the implementation of the social contract. Considerable attention is paid to the study of the paradigm of international business and justification of its universal nature to explain the objective reasons of offshorization of business, foreign direct investments and economic activity of multinational enterprises in both regional and global dimensions.
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