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Foreign Direct Investment in Transitional Economies presents a detailed investigation into the recent changes in the patterns and determinants in inflows of FDI to transitional economies. The author re-evaluates conventional theories of FDI, and analyses the many changes taking place in the nature of international business, both in terms of the drives of the trans-border transactions, and the strategic orientation of the firms that engage in those transactions. This comparative investigation is based on original research detailing the experiences of FDI in the economies of China and Poland through case studies of over 200 multinationals, and takes into account the dynamic forces of globalization and their effects on FDI.
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 FDI? 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 developing countries and economies in transition. 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 wisdom on the topic. Dr. Moran offers a pathbreaking 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.
FDI has proved to be the most dynamic defensive and offensive response to globalization. This book provides an in-depth evaluation of the rationale as well as theoretical and empirical explanations of the outward internationalization of firms from the Czech Republic, Estonia, Hungary, Poland and Slovenia. The authors present the first broader empirical evidence on transition economies' OFDI and internationalization, evaluate the role of transnational companies from transition economies and development implications of outward internationalization for home economies. They put the experience of firms from transition economies into the framework of existing theories, study to what extent are the experiences of Austria, Portugal and Finland applicable to transition economies, illustrate general macro economic trends of the international business practices of firms from transition economies by case studies, examine the main determinants and barriers to the outward internationalization process, offer a representative set of cases and best business/government practices relevant for other transition economies, identify specificity in internationalization by firms from transition economies due to transition processes and systemic background and apply network theory as a complementary explanation for such internationalization due to former historical ties and cultural vicinities. A pioneering work on outward investment by transition economies, this book is the first in the world to present a more systematic analysis of the internationalization of firms from transition economies, based on results of the two ACE projects: "Outward internationalization facilitating transformation and EU Accession; The case of Czech Republic, Hungary and Slovenia" and "Networking Through OFDI" including also Poland and Estonia.
Over the past twenty years, foreign direct investments have spurred widespread liberalization of the foreign direct investment (FDI) regulatory framework. By opening up to foreign investors and encouraging FDI, which could result in increased capital and market access, many countries have improved the operational conditions for foreign affiliates and strengthened standards of treatment and protection. By assuring investors that their investment will be legally protected with closed bilateral investment treaties (BITs) and double taxation treaties (DTTs), this in turn creates greater interest in FDI.
Foreign direct investment (FDI) is an integral part of an open and effective international economic system and can provide a major catalyst to development. However, the benefits of FDI do not accrue automatically and evenly across countries, sectors and local communities. This publication looks at the impact of FDI on development issues and considers the policies required to maximise its benefits for developing countries. Aspects discussed include: the macroeconomic benefits for host countries; recent FDI trends; its impact on growth; foreign trade linkages; technology transfer; human capital enhancement; market structures and competition; social and environmental consequences; and country experiences in realising the benefits of FDI.
This paper examines the importance of agglomeration economies and institutions vis-a-vis initial conditions and factor endowments in explaining the locational choice of foreign investors. Using a unique panel data set for 25 transition economies between 1990 and 1998, we find that the main determinants are institutions, agglomeration, and trade openness. We find important differences between the Eastern European and Baltic countries, on the one hand, and the CIS countries on the other: in the latter group, natural resources and infrastructure matter, while agglomeration matters only for the former group.
The period of transition from socialism to capitalism in parts of Europe and Asia over the past 25 years has attracted considerable interest in academia and beyond. From the Editors of Palgrave's iconic series 'Studies in Economic Transition' comes the Palgrave Dictionary of Emerging Markets and Transition Economics. This dictionary addresses the needs of students, lecturers and the interested general public to quickly find definitions and explanations of topics, institutions, personalities and processes in this historical phase of changing societies, which as such is not concluded. Today newly emerging market economies try to learn from the experiences of transition economies. Those who love The New Palgrave Dictionary of Economics will enjoy the format of this Dictionary, which uses an encyclopaedia-based approach, where articles not only define the terms but provide an overview of the evolution of the term or theory and also touch on the current debates.
Multinationals have become increasingly important to the world economy. Overseas production by U.S. affiliates is three times U.S. exports, for example. Who is investing where, for sales where?
Explores three related issues of foreign direct investment (FDI) from the point of view of the host country: benefits and risks; the effectiveness of international markets in providing FDI to developing countries; and the kinds of policies that allow countries to capture the benefits and avoid the risks of FDI. Annotation copyrighted by Book News, Inc., Portland, OR