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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and comprising the viewpoints of leading authorities on foreign direct investment, the book offers detailed, previously unpublished information on the effects of foreign direct investment in the United States.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.
Covering the state of knowledge on FDI in the 1990s, this work shows how it has moved beyond the polarizing debate over the foreign invasion that characterized much of the writings in the 1980s. It explores multinational companies' political action and corporate citizenship. Its policy section discusses foreign and domestic participation in federal industrial policy programs, and whether current regulations make sense. The book also offers a new approach to demarcating foreign ownership in national security/defense industrial bases. In its policy chapters the book covers the question of national treatment and investment in telecommunications. The book concludes with a timely analysis of the Multilateral Agreement on Investment under review by the Organization for Economic Cooperation and Development and the World Trade Organization.
List of contents
Introduction: Is National Ownership Relevant?
FDI in a Globalizing EconomyDoes Ownership Really Matter in a Global Economy? by John Dunning
A Retrospective on FDIUS by Edward Graham
Consequences for the EconomyProductivity, Skill, and Wage Effects of Multinational Corporations in the United States by Mark E. Doms and J. Bradford Jensen
Takeovers and Technology Transfer: Reassessing FDIUS by Edward Ray
Cross-Country Locational Differences of Foreign Manufacturers in the United States by Cletus Coughlin
Intra-Firm Trade and FDIUS by Simon Reich
R & D and High Technology Effects by Donald H. Dalton and Manuel Serapio, Jr.
Strategies of Foreign Corporate R & D Investment and Sourcing in the United States by Lois S. Peters
Foreign Direct Investment in the United States and U.S. Technology Development by Sumiye Okubo
Corporate Behavior: Political, Social, ManagerialPolitically Active Foreign-Owned Firms in the United States: Elephants or Chickens? by Kathleen A. Getz
Corporate Citizenship: Comparing Foreign Affiliates and Domestic Subsidiaries by Tammie Pinkston
Top Management Turnover: Comparing Foreign and Domestic Acquisitions of U.S. Firms by Jeffrey A. Krug and Douglas Nigh
Policy ImplicationsNations, Nationality, and Transnational Enterprises: Policy Choices of Defining Corporate Nationality by John Kline
Foreign Investment Restrictions, National Treatment, and Telecommunications by Cynthia A. Beltz
Foreign Acquisition of Defense-Related U.S. Firms: Concentration, Competition, and Reality by Robert T. Kudrle and David B. Bobrow
The Multilateral Agreement on Investment: The Next Challenge for Global Interdependence by Stephen J. Canner
Glossary
Index
About the author
Douglas Nigh, Douglas P. Woodward
