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Foreign Direct Investment and Development : The New Policy Agenda for Developing Countries and Economies-in-transition :  The New Policy Agenda for Developing Countries and Economies-in-transition - Theodore H. Moran

Foreign Direct Investment and Development : The New Policy Agenda for Developing Countries and Economies-in-transition

The New Policy Agenda for Developing Countries and Economies-in-transition

Paperback Published: 1998
ISBN: 9780881322583
Number Of Pages: 216
For Ages: 22+ years old

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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 "fundamentals" 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.

Industry Reviews

Ted Moran... with rare objectivity and commendable thoroughness... point[s] the way to policies that could be mutually beneficial to both governments and enterprises. -- Raymond Vernon, Clarence Dillon Professor of International Affairs Emeritus, Harvard University

Prefacep. xi
Acknowledgmentsp. xiv
Introduction and Synopsisp. 1
FDI in Developing Countries and Economies in Transition: Opportunities, Dangers, and New Challenges
Introductionp. 15
The Impact of FDI on Host-Country Development: The Heritage of Theory and Evidencep. 19
The Benign Model of FDI and Developmentp. 19
The Malign Model of FDI and Developmentp. 20
Theory and Evidence about Market Structure and FDIp. 21
Three Earlier Net Assessments of the Impact of FDI on Developmentp. 24
Host-Country Policies to Shape Foreign Investor Activities: Investment Promotion, Domestic-Content Requirements, and Export-Performance Requirements
Introductionp. 29
Theoretical Considerations about Host-Country Intervention in Investment Promotion, Domestic-Content Requirements, and Export-Performance Requirementsp. 31
Foreign Firms and Host-Country Investment Promotionp. 37
FDI and Domestic-Content Requirementsp. 41
Evidence about Domestic-Content Requirementsp. 41
Reasons for the Adverse Impact of Domestic-Content Requirementsp. 43
The Adverse Political Economy of Domestic-Content Requirementsp. 45
FDI and Export-Performance Requirementsp. 49
FDI and Exports in the Automotive Sector: Mexico, Brazil, and Thailandp. 51
Export-Performance Requirements for Foreign Investors and Global Sourcing in the Automotive Sector: A Preliminary Assessmentp. 61
FDI and Exports in the Petrochemical Sectorp. 63
FDI and Exports in the Electronics/Computer Sectorp. 71
Export-Performance Requirements and the Globalization of the Automotive, Petrochemical, and Electronics/Computer Sectorsp. 81
Comparative Advantage and the Globalization of Manufacturing Industries: The Struggle to Tilt the Playing Field for International Investmentp. 85
Market Failure Rationales for Host-Country Interventionp. 86
Second-Best Rationales for Host-Country Interventionp. 94
Strategic-Trade Struggles and the Intersection between Trade Protection and Investment Diversionp. 102
Policy Implications for Using Foreign Investors to Penetrate International Markets: The Dilemmas of Passivism, Escalation, and Playing for a Drawp. 113
Host-Country Policies to Constrain Ownership on the Part of Foreign Direct Investors: Joint-Venture Mandates and Technology-Licensing Requirements
Introductionp. 117
FDI and Joint-Venture Requirementsp. 119
Joint-Venture Requirements and Technology Transferp. 121
Joint-Venture Requirements and Export Performancep. 123
Joint-Venture Requirements and Backward Linkages to the Domestic Industrial Basep. 125
FDI and Technology-Licensing Requirementsp. 127
Mandatory Technology Licensing and Technological Deepeningp. 128
Technology-Licensing Requirements and Industrial Deepeningp. 131
Technology-Licensing Requirements and Enhanced Control over National Championsp. 133
Technology-Licensing Requirements and National Securityp. 134
Host-Country Policies toward Natural-Resource and Private-Infrastructure Investment
Introductionp. 139
Structural Vulnerability, Imperfect Contracts, and "Political Risk" in Natural-Resource and Private-Infrastructure Projectsp. 141
Structural Vulnerability and the Obsolescing Bargainp. 142
Multilateral Mechanisms to Enhance the Stability of Investment Agreementsp. 145
A Balance between Stability and Flexibilityp. 149
Findings, Conclusions, and Policy Implications
Introductionp. 153
Incorporating FDI into the Development Process: From Traditional Concerns to a New Agenda for Actionp. 155
Market Failures, Market Interventions, and the Struggle for International Corporate Operationsp. 157
A New Policy Agenda toward FDIp. 159
Tactics for Pursuing the New FDI Agenda: Following a Path of Unilateral Restraintp. 161
Tactics for Pursuing the New Agenda toward FDI: Negotiating a Grand Bargain within a Broadened and Revised MAIp. 163
Leadership, Vision, and a New North-South Dialoguep. 168
Referencesp. 169
Indexp. 181
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780881322583
ISBN-10: 088132258X
Audience: Professional
For Ages: 22+ years old
Format: Paperback
Language: English
Number Of Pages: 216
Published: 1998
Publisher: The Peterson Institute for International Economics
Country of Publication: US
Dimensions (cm): 0.9 x 0.6  x 1.5
Weight (kg): 0.3

Earn 136 Qantas Points
on this Book