1st Edition

A Century of Foreign Investment in the Third World

By Michael Twomey Copyright 2000
    272 Pages
    by Routledge

    266 Pages
    by Routledge

    The late twentieth century has witnessed a dramatic upsurge in foreign direct investment in the Third World. Based upon thorough statistical analysis, the book presents exhaustive case-studies of foreign investment policy in 'metropolitan' countries and of the experiences of 'host' countries throughout Africa, Asia and Latin America. With a wide geographical and historical focus, it also makes an important contribution to current debates on dependency theory.

    Chapter 1. Introduction Major themes Outline of the book Acknowledgments Dedication Chapter 2. Conceptualizing and Measuring Foreign Investment Theoretical perspectives Dunning's 'eclectic model' of FDI The product cycle and the investment development path The obsolescing bargain Free standing companies Expatriate investment The Third World and colonies Colonial policy and FDI Measuring and comparing the size of FDI Capital and the capital-output ratio Further measurement issues Final comments Endnotes Chapter 3. Evolution of Investment in the Twentieth Century: Source Countries Global overview FDI in services Foreign portfolio equity investment British investment Trends in British direct investment French overseas investment Issues in the measurement of French colonial investment The United States Belgium The Netherlands Japan Concluding comments Endnotes Chapter 4. Africa Egypt Algeria Morocco Tunisia French sub-Saharan Africa Côte d'Ivoire Liberia Zaire British Tropical Africa Ghana Nigeria Kenya Uganda Union of South Africa North and South Rhodesia Zimbabwe Zambia Endnotes Chapter 5. Asia and the Middle East Australia China India Indochina Indonesia Korea Malaysia Philippines Taiwan Thailand The Middle East and Petroleum Turkey Endnotes Chapter 6. Latin America, the Caribbean, and Canada Argentina Brazil Canada Chile Colombia Cuba Honduras Jamaica Mexico Peru Venezuela Endnotes Chapter 7. General Results Long term trends Estimates of the foreign ownership of domestic capital The relative importance of expatriate investment Econometric explanation of pre-World War I FDI The relative size of railroads Railroad financing The investment development path The 'big push' and domestic growth Source country factors Location specific advantages in host countries Privatization and FDI Overall summary Future trends Endnotes


    Michael Twomey