Bachelor of Arts McGill University, Montreal, 1955. Doctor of Philosophy Massachusetts Institute of Technology, Cambridge, Mass., USA, 1960.
Stephen Hymer’s principal contribution was to turn the theory of the multinational corporation away from an international trade context into one of industrial organisation with an emphasis on rent-seeking based on the advantage that the corporation has over those in the foreign country. The thesis was written in 1960, circulated by inter-library loan in typed form for a number of years, and was finally published after Hymer’s death. It gave rise to a torrent of derivative literature, some claiming originality, emphasising transactions costs, internalisation, appropriability, etc.
In addition to his work on the multinational corporation, Hymer had a deep interest in economic development, especially in the context of Africa. Research Association, Ghananian Planning Board, 1961-1962. Assistant Professor, Massachusetts Institute of Technology, Cambridge, Mass., USA, 1962-1963.
Assistant Professor of Economics, Yale University, 1963-1970. Professor of Economics, New School Social Research, 1970-1976.