A Comparative Analysis of the Economic Impact of Multinational Corporations From BRICS and NATO Member States on Third World Countries (2015–2023)

This study explored the economic impact of multinational corporations (MNCs) from BRICS and NATO member states on Third World countries, specifically between 2015 and 2023. The research focused on understanding how these foreign entities influence the economies of developing nations, both positively and negatively. The problem aroused from the dependency of Third World countries on foreign investments, which while fostering economic growth, often exacerbate inequalities, environmental damage, and social unrest. This phenomenon calls for a comprehensive evaluation of the roles played by MNCs from emerging and developed economies. The theoretical framework adopted for this study is World Systems Theory developed by Immanuel Wallerstein in the 1970s, which examined the global capitalist structure and the economic relationships between core, semi-peripheral, and peripheral nations. This theory helped contextualize the exploitative dynamics between multinational corporations and Third World economies. The study adopted a qualitative research methodology, specifically a descriptive design, which allows for an in-depth exploration of the economic effects of MNC activities in developing nations. Data was collected through secondary sources, including books, journals, newspapers, and official publications, using a documentary analysis technique. Content analysis was employed to examine the characteristics of the data, facilitating a deeper understanding of the themes and patterns present within the documents. The findings revealed both positive impacts, such as infrastructure development and job creation, and negative consequences, including environmental degradation and economic dependency. Recommendations suggested that governments should focus on diversifying their economies, implementing stronger regulatory frameworks, and negotiating fair trade agreements to maximize the benefits of foreign investment. In conclusion, while MNCs contribute to economic growth, their operations must be carefully managed to promote sustainable development in Third World countries. The reference format adopted in this research follows the APA 6th edition.