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Published by the United Nations Conference on Trade and Development - UNCTAD

WORLD INVESTMENT REPORT 1999
Foreign Direct Investment and the Challenge of Development

WIR 99 is the ninth Report in an annual series that has been recognized as the most up-to-date and comprehensive source of information as well as analysis regarding foreign direct investment (FDI).
Part I, entitled Trends,examines the most recent global and regional trends in FDI. It describes the world´s 100 largest TNCs, the 50 largest TNCs in developing countries and the 25 largest TNCs in Central Europe; analyses the momentum for an increasing globalization of economies through FDI and the activities of TNCs; and explores the growing importance of mergers and acquisitions in fuelling FDI flows. It also reviews recent developments in bilateral and regional investment agreements including the reasons for the end of negotiations of the Multilateral Agreement on Investment.
Part II, entitled FDI and the Challenge of Development, looks at the impact of FDI on key objectives of economic development: increasing financial resources for investment, enhancing technological capabilities, boosting export competitiveness, generating and upgrading employment, and protecting the environment.
The Report concludes that although FDI can yield major economic benefits for the host country, such benefits can be enhanced through appropriate policies. Governments therefore have an important role to play in creating the conditions that attract FDI and in maximizing the positive contribution that FDI can make to growth and development.

Table of Contents - Preface
Overview:    English  Spanish
PART I
Chapter I
GLOBAL TRENDS

The growth of international production is an important part of the process of globalization. “International production” refers to that part of the production of goods and services of countries that is controlled and managed by firms headquartered in other countries. Firms can exercise control of production in countries (“host countries”) other than their own (“home country”) either through the ownership of a minimum share of equity – that is, a minimum share in the capital stock or assets – of the enterprises in which the production takes place, or through contractual (non-equity) arrangements that confer control upon them. Exercising control and having a voice in the management of an enterprise located abroad (“foreign affiliate”) – whether through capital investment or through contractual arrangement – leads to international production.
Firms that engage in international production – transnational corporations (TNCs) – establish, under the common governance of their headquarters, international production systems in which factors of production move, to a greater or lesser extent, among units located in different countries. These systems increasingly cover a variety of activities, ranging from research and development (R&D) to manufacturing to service functions such as accounting, advertising, marketing and training, dispersed over host-country locations and integrated to produce final goods or services. They are also increasingly being established, especially in developed countries, through mergers between existing firms from different countries or the acquisition of existing
A. Trends
B. Geographical and sectoral distribution
Chapter II
REGIONAL TRENDS
A. Developed countries
B. Developing countries
C. Central and Eastern Europe
Chapter III
THE LARGEST TRANSNATIONAL CORPORATIONS AND CORPORATE STRATEGIES
A. The largest transnational corporations
B. Cross-border Mergers & Acquisitions
C. Strategic partnering, Mergers & Acquisitions and their implications for the competitive environment
Chapter IV
INVESTMENT POLICY DEVELOPMENTS
A. National policies
B. Developments at the international level TextB
PART II
Chapter V
THE CONTEXT AND ITS CHALLENGE
A. The changing context of development
B. The changing context for TNCs
C. The challenge
Chapter VI
INCREASING FINANCIAL RESOURCES AND INVESTMENT
A. The importance of investment for development
B. The financial behaviour of TNCs
C. The impact of FDI on financial resources and investment
D. Conclusions and policy implications
Chapter VII
ENHANCING TECHNOLOGICAL CAPABILITIES
A. Technology, learning and development
B. Technology generation and transfer: the role of TNCs
C. FDI and developing countries: technology transfer, diffusion and generation
D. Conclusions and policy implications
Chapter VIII
BOOSTING EXPORT COMPETITIVENESS
A. The competitiveness challenge
B. TNC strategies and role in trade
C. The role of FDI in building export competitiveness
D. Conclusions and policy implications
Chapter IX
GENERATING EMPLOYMENT AND STRENGTHENING THE SKILLS BASE
A. The importance of employment, employment quality and skills for development
B. TNC strategies and their implications for generating employment and building skills
C. FDI, employment and skills in host developing countries
D. Conclusions and policy
Chapter X
PROTECTING THE ENVIRONMENT
A. The importance of the environment for development
B. Environmental strategies of TNCs
C. The impact of FDI on the environment in host developing countries
Chapter XI
ASSESSING FDI AND DEVELOPMENT IN THE NEW COMPETITIVE CONTEXT
A. The new competitive context
B. FDI in developing countries
Chapter XII
THE SOCIAL RESPONSIBILITY OF TRANSNATIONAL CORPORATIONS
A. The context for the social responsibility of TNCs
B. Meanings of corporate social
C. The growing importance of TNC social responsibility
D. Recent developments in corporate social responsibility
E. Outlook and policy implications
References
Annex A    Annex B
Selected UNCTAD publications on Transnational Corporations and Foreign Direct Investment
Questionnaire
Full Report [PDF, 577pp., 5293KB]


Book information:
UN Symbol: UNCTAD/WIR/1999
Sales no.: E.99.II.D.3
Date of publication: 01/08/99
ISBN: 92-1-112440-9
No. of pages: 577
Price:
US$ 49 (Developed countries)
US$ 19 (Developing countries)
To order: Order form



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