Foreign Direct Investment and Development: Launching a Second Generation of Policy Research : Avoiding the Mistakes of the First, Reevaluating Policies for Developed and Developing Countries
This volume is the culmination of Institute investigations of the relationship between foreign direct investment (FDI) and development. Today, more than one-third of world trade takes place in the form of intrafirm transactions--that is, trade among the various parts of the same corporate network spread across borders--and the bulk of technology is transferred within the confines of integrated international production systems. This means that FDI and the operations of multinational corporations have become central to the world economy at large. Nowhere is this more important than for developing countries. But as the author argues, FDI is not a single phenomenon. FDI has such different impacts in the extractive sector, infrastructure, manufacturing and assembly, and services- and presents such distinctive policy challenges-- that each broad category of FDI must be treated on its own terms. Indeed, past studies that have aggregated all FDI flows together to try to find some unique relationship to host-country growth or welfare have led to unreliable substantive findings and, sometimes, mistaken policy conclusions. The author examines each of the principle forms of FDI, extracts the best from previous analysis, and offers new findings and perspectives about how these benefits from FDI in each sector can be enhanced and potential damages limited or eliminated. -- Back Cover.
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Ch 1 Introduction
Ch 2 FDI in Extractive Industries
Ch 3 FDI in Infrastructure
Ch 4 FDI in Manufacturing and Assembly
Ch 5 A First Look at the Impact of FDI in Services
Ch 6 Reconsidering the Debate on FDI Crowding Out or Crowding In Domestic Investment
Ch 7 FDI HostCountry Growth and Structural Transformation
abroad accessed on February activities affiliates analysis auto backward linkages benefits Blonigen capital chapter China Chinese companies competitive contract corporate social responsibility corruption Costa Rica developing countries developing world developing-country domestic firms domestic-content Dutch disease econometric EITI electronics evidence export processing zones extractive industries FDI flows FDI in manufacturing Foreign Direct Investment foreign firms foreign investors growth Hausmann and Rodrik higher higher-skilled host authorities host economy host-country impact of FDI important indigenous firms Indonesia inputs Institute for International Intel International Economics international investors Javorcik labor managers manufacturing and assembly manufacturing FDI ment million MNCs Moran multilateral OECD operations original equipment manufacturer outcome outward investment percent Peterson Institute plants projects requirements resource curse revenues studies suppliers tion total factor productivity Transparency International UNCTAD United upgrade vertical wages Wang Washington workers World Bank World Bank Group