A major force in East Asia's remarkable economic growth and industrial transformation, foreign direct investment has been growing at 14?15 percent annually in Southeast Asia and China over the last decade. This timely volume examines the impact of investment on trade in the region, focusing especially on microeconomic issues of strategy, activity, and behavior of corporate investors. The contributors explore the role of corporate alliances and networks of Japanese and Chinese firms, as well as the influence of investors from newly industrializing economies, in the relocation of production and trade within the region.
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* Introduction and Overview Hadi Soesastro. * Growth and Decline in Multinational Enterprises: From Equilibrium Models to Turnover Processes Richard E. Caves. * The Interdependence of Trade and Investment in the Pacific Peter A. Petri. * Subregional Economic Integration: Hong Kong, Taiwan, South China, and Beyond Yun-Wing Sung. * Chinese Capitalism in Thailand: Embedded Networks and Industrial Structure Gary G. Hamilton and Tony Waters. * On the Causes of Low Levels of FDI in Japan Ryuhei Wakasugi. * Japans Low Levels of Inward Direct Investment: Causes, Consequences, and Remedies Mark Mason. * Multinational Corporations and Technology Transfer in Penang and Guadalajara Juan J. Palacios. * A Study of the Operations of Japanese Firms in Asia: The Electrical Machinery Industry Motoshige Itoh and Jun Shibata. * Technological Change, Foreign Investment, and the New Strategic Thrust of Japanese Firms in the Asia Pacific Denis Fred Simon and Yongwook Jun. * The International Procurement and Sales Behavior of Multinational Enterprises Chia Siow Yue. * Direct Investment in Low-wage and High-wage Countries: The Case of Taiwan Tain-Jy Chen, Ying-Hua Ku, and Meng-Chun Liu. * Summary of Discussion Gordon de Brouwer.