DOI: https://doi.org/10.36719/2663-4619/121/17-21
Togrul Valiyev
Baku State University
PhD in Law
https://orcid.org/0009-0006-8127-9776
veliyevtogrul@yandex.com
Transnational Corporations in the Context of International Economic Law
Abstract
The modern world economy is developing under the influence of various external and internal interventions and is being shaped in a way that encompasses new dimensions. This formation is considered both as the development of the global economy and its adaptation to the requirements of the contemporary era. As in many other fields today, in international economic relations as well, the processes of internationalization, globalization, and trans nationalization are regarded as fundamental factors underlying this development and are examined in their interrelation. Although each of these processes possesses distinct characteristics and encompasses different dimensions, they are all rooted in common ideologies such as the expansion of the scope of social relations, the transcendence of state borders, and, more broadly, the overcoming of the very notion of boundaries. As a manifestation of these ideologies in international economic relations, it is observed that in the modern era, the role of transnational corporations is increasing both in the economy and in international legal relations. As one of the key participants in international economic relations, transnational corporations are more frequently examined within various fields of economic science. The necessity of studying transnational corporations both from an organizational-structural perspective and in terms of their participation and legal subjectivity in international economic law has made them one of the pressing issues within the framework of international law.
Keywords: Transnational corporations, international law, economic law, globalization, investment