Multinationals in the Digital Economy

The Brookings Institution‘s Global Goliaths: Multinational Corporations in the 21st Century Economy includes my chapter Multinationals in the Digital Economy. The lead paragraph:

Modern digital services largely come from multinational corporations (MNCs) whose size and scope are unprecedented.  It has not always been this way.  Just a few decades ago, users typically turned to local firms for most kinds of information technology (IT).  And, historically, software was known for its low barriers to entry and the quick rise of startups and small firms.  This chapter examines the forces contributing to the rise of digital MNCs, as well as the challenges they face.