Foreign Ownership and the Consequences of Direct Investment in the United States: Beyond Us and Them

Foreign Ownership and the Consequences of Direct Investment in the United States: Beyond Us and Them

Foreign Ownership and the Consequences of Direct Investment in the United States: Beyond Us and Them

Foreign Ownership and the Consequences of Direct Investment in the United States: Beyond Us and Them

Synopsis

Woodward, Nigh, and their colleagues provide a comprehensive investigation of foreign ownership in the United States. Based on the latest, most reliable data and comprising the viewpoints of leading authorities on foreign direct investment, the book offers detailed, previously unpublished information on the effects of foreign direct investment in the United States. The authors find that foreign-owned and domestic corporations are similar in many aspects of their behavior and its effects on the U.S. economy and society, but there are important differences too. By showing exactly where these similarities and differences lie, and using evidence that goes beyond anecdotes, the book makes a significant contribution to the improvement of public policy in the FDI arena. Its primary finding: globalization reduced foreigness. This is an important resource for professionals and academics alike, and for students of international business and economics on the graduate level.

Excerpt

This book is a multidisciplinary collaboration. It started when we discovered a common interest in exploring the effects of foreign direct investment on the United States. We also shared some dissatisfaction with the quality of the debate over direct investment and its effects on host countries. We saw the need for improved conceptual development and more sophisticated empirical research. We also saw the need to go beyond the economic effects of foreign direct investment to include political and social dimensions.

While important new research was being carried out during the 1990s, it was dispersed across various institutions and conducted by researchers trained in academic disciplines that too rarely communicate with each other: economics, political science, management, and international business. Thus, we saw an opportunity for a collaborative effort that would advance our understanding of foreign direct investment's effects on recipient countries. Consequently, we designed a conference that would pull together leading research.

In September 1995, twenty researchers met for two days at Georgetown University in Washington, D.C. to present and discuss papers addressing various aspects of direct investment in the United States and the appropriate public policy responses. the conference was designed to present research using newly available, more disaggregated economic data to examine a range of effects (economic, political and social), and to consider the public policy implications of rising foreign ownership in the 1990s. This book includes revised versions of the papers presented at the conference, along with our own assessment of the extent to which the foreign ownership of business enterprises matters for a country.

The contributions of many people were crucial to producing this book. First, we thank the Darla Moore School of Business of the University of South Carolina, Center for International Business Education and Research (CIBER) and its director, Randy Folks, for financial and administrative support throughout the whole project. a special note of thanks goes to Michael Shealy, ciber Managing Director, for a superb job in organizing the logistics of the Washington conference. Our sincere appreciation also goes to Georgetown University and John Kline of the Landegger . . .

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