Foreign Direct Investment and Governments: Catalysts for Economic Restructuring

Foreign Direct Investment and Governments: Catalysts for Economic Restructuring

Foreign Direct Investment and Governments: Catalysts for Economic Restructuring

Foreign Direct Investment and Governments: Catalysts for Economic Restructuring

Synopsis

This new paperback edition of Foreign Direct Investment and Governmentsexamines the dynamic relationship between foreign direct investment, governments and economic development. The book includes:

• an investigation of the catalytic role played by the governments and multinationals in determining national advantages

• eleven in-depth national studies of the UK, USA, Japan, New Zealand, India, Mexico, Spain, Sweden, China, Indonesia and Taiwan

• analysis of all aspects of the investment development path
Foreign Direct Investment and Governmentsis an excellent source book for students of international business.

Excerpt

A par excellence two-way direct investor

Jeremy Clegg

The United Kingdom is, in at least one way, a unique country for examination in the context of the investment development path (IDP). As the first country to industrialise, the UK was in the position of being the first outward investor of the industrial period. In this respect the UK might be thought of as having enjoyed international first-mover advantages in terms of its comparative foreign direct investment position. It was in the UK that the sudden acceleration of technical and economic development began in the second half of the eighteenth century, transforming the British economy from a traditional agrarian to an industrial structure, based on capital equipment and manufacturing. From around 1830 to the early twentieth century the Industrial Revolution spread throughout Europe and the United States. The diffusion of this process has continued world-wide, throughout the twentieth century, and particularly since the end of the Second World War. It is precisely this perpetuation that has generated continuing large-scale adjustments in international trade and investment patterns, not least on the part of the UK.

The resources on which the economic transformation in the UK was based were coal, iron, water transport, financial capital, a newly created urban working class drawn from the agricultural workforce, and an equally new transport infrastructure constructed around the steam engine-the fundamental innovation of the Industrial Revolution. Such were the founding natural and created assets at the start of the period of industrial history pertinent to the UK's international investment path. The crucial early role of ownership assets that are primarily a function of the structure of the home economy is

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