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This paper reviews the rise of Export Processing Zones (EPZ) in the developing world as an important and widespread aspect of the current trend of economic globalization. This economic globalisation is bringing immense wealth to some multinational companies, also known as transnational corporations or TNCs. However what impact do these EPZs have on their host countries? Do they contribute to, or hinder, development in the developing world? In this paper it will be argued that in the big picture, the effects of EPZ's are negative. According to the paper, while they may appear to contribute to a short-term economic boom, they have insidious bad effects that are long term.

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