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Multinational Enterprises in Asian Development

Prema-chandra Athukorala, Professor of Economics, Research School of Pacific and Asian Studies, Australian National University, Australia
This book takes a fresh look at unresolved issues associated with the role of multinational enterprises and foreign direct investment in economic development in light of the experiences of developing countries in Asia.
Extent: 304 pp
Hardback Price: $146.00 Web: $131.40
Publication Date: 2007
ISBN: 978 1 84720 102 7
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  • Asian Studies
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This book takes a fresh look at unresolved issues associated with the role of multinational enterprises and foreign direct investment in economic development in light of the experiences of developing countries in Asia.

Each chapter presents a self-contained treatment of a specific theme relating to the developmental implications of MNEs, encompassing the current state of the debate, and relevant theory and policy implications. The key aspects of MNE-development interface covered in the book include expansion of manufacturing exports, global integration through international fragmentation of production, research and development, productivity growth, susceptibility to and recovery from financial crises, macroeconomic adjustment and international competitiveness, and economic transition from plan to market.

Multinational Enterprises in Asian Development will prove a valuable reference tool for academics, researchers and students focusing on trade, development and international business. Professional economists and policy makers wishing to broaden their understanding of the role of MNEs as an integral part of the international development policy will also find much to interest them in this book.
‘. . . provides a comprehensive and up-to-date overview of the presence of FDI in Asian countries and addresses the role played by MNEs, in terms of new intra-regional and inter-regional dynamics based on a collection of recent empirical studies. The author also presents fresh insights on policy issues related to the coexistence of regional competition and integration among Asian economies when attracting FDI, which are both in the focus of public debate at the heart of policy-making worldwide in the face of the ongoing globalisation process. . . the author takes up a very interesting, and also highly demanding task. . . Multinational Enterprises in Asian Development is an excellent collection of up-to-date empirical evidence, in which we can find inspiring insights into the ongoing and deepend integration of MNEs’ activities in the national and regional economies of Asian countries. Both for researchers who specialise in Asian economies and for a more general audience, this volume will be very informative thanks to the insightful historical and cross-country comparisons. This volume has indeed narrowed the gap between our observations of MNEs activities and our understanding of the potential implications for the economic devekioment and policy-making in Asian countries.’
– Nannan Lundin, Science and Public Policy

‘A remarkable product of analytical formulation, data disaggregation and methodological rigour.’
– Anthony P. D’Costa, Pacific Affairs

‘Cross-border investment is a key driver of the globalisation process and multinational enterprises a key driver of productivity growth. This new book offers a comprehensive and informed evaluation of the role of multinationals in the world’s fastest growing region. The book will not only be of interest to researchers and students, but also to analysts in the policy making community.’
– David Greenaway, University of Nottingham, UK

‘This volume offers a wealth of information and insights into the roles of multinational enterprises in shaping recent economic developments in East and South Asia. These direct investments, which are now the dominant source of finance for the developing regions globally, are generally welcomed today, though this was untrue earlier. However, the cases in this volume draw out ways and contexts in which the greatest advantage may be sought from these capital inflows.’
– Robert E.B. Lucas, Boston University, US

‘Foreign direct investment by MNCs, once considered the bane of developing countries, is today a leading indicator of their relative success. The reality is more complicated, however, as this fresh assessment of the role of MNCs in Asia explains clearly and persuasively. This study is a major contribution to literature on the role of MNCs in developing countries, drawing heavily on the author’s own original research on foreign direct investment in several Asian countries. What is the role of MNCs in developing countries and how has it changed over the past two decades? What are the cost and benefits to host developing countries of MNCs direct investment? What measures should developing countries take to attract MNCs? This book provides clear and convincing answers to these questions based on the kind of rigorous empirical analysis for which the author is renowned.’
– James Riedel, The Johns Hopkins University School of Advanced International Studies, US
Contents: Preface 1. Multinational Enterprises and Developing Countries: Background and Preview 2. Foreign Direct Investment in Developing Asia: Trends, Patterns and Prospects 3. Multinational Enterprises and Manufacturing for Export: Emerging Patterns and Opportunities for Latecomers 4. Product Fragmentation and Trade Patterns in East Asia 5. Multinational Firms in Crisis and Recovery: Lessons from the 1997–98 Asian Crisis 6. Capital Inflows and the Real Exchange Rate: Foreign Direct Investment versus Short-term Capital 7. Trade Orientation and Productivity Gains from International Production 8. Multinational Enterprises and the Globalization of R&D: A Study of US-based Firms 9. Multinational Firms and Factor Proportions in Manufacturing: Does Parentage Matter? 10. Foreign Direct Investment in Economic Transition: The Experience of Vietnam References Index