Foreign Direct Investment and Development

Foreign Direct Investment and Development

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Foreign direct investment (FDI) has grown dramatically and is now the largest and most stable source of private capital for developing countries and economies in transition, accounting for nearly 50 percent of all those flows. Meanwhile, the growing role of FDI in host countries has been accompanied by a change of attitude, from critical wariness toward multinational corporations to sometimes uncritical enthusiasm about their role in the development process. What are the most valuable benefits and opportunities that foreign firms have to offer? What risks and dangers do they pose? Beyond improving the micro and macroeconomic qfundamentalsq in their own countries and building an investment-friendly environment, do authorities in host countries need a proactive (rather than passive) policy toward foreign investment? In one of the most comprehensive studies on FDI in two decades, Theodore Moran synthesizes evidence drawn from a wealth of case literature to assess policies toward FDI in these countries. His focus is on investment promotion, domestic content mandates, export-performance requirements, joint-venture requirements, and technology-licensing mandates. The study demonstrates that there is indeed a large, energetic, and vital role for host authorities to play in designing policies toward FDI but that the needed actions differ substantially from conventional beliefs on the topic. Dr. Moran offers a new and controversial agenda for host governments, aimed at maximizing the benefits they can obtain from FDI while minimizing the dangers, and suggests how they might best pursue this agenda.... such as oil tanks and radiators, then more complex items, such as wiring harnesses, brake drums, stamping dies, jigs, and molds. ... Manufacture of the engines for these small trucks required plants with economies of scale too large for domestic ... the firm most opposed to global sourcing) (Doner 1991, 216).12 All four submitted bids that included large new export ... took place prior to the Plaza Accord of 1985 with its subsequent exchange-rate incentive for Japanese producers toanbsp;...


Title:Foreign Direct Investment and Development
Author: Theodore H. Moran
Publisher:Peterson Institute - 1998-01-01
ISBN-13:

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