Introduction Kenneth A. Froot 1 The Surge in Foreign Direct Investment in the Late 1980s Conceptual Issues Paul Krugman and Edward Graham Comment: Kenneth A. Froot 2 New Perspectives on Foreign Direct Investment Rachel McCulloch Comment: Karl P. Sauvant 3 Where Are the Multinationals Headed? Raymond Vernon Comment: Richard E. Caves 4 Why is Foreign Direct Investment in Japan So Low? Robert Z. Lawrence Comment: Richard C. Marston 5 Foreign Direct Investment in the U.S.: Changes Over Three Decades Robert E. Lipsey 6 Mobile Exporters: New Foreign Investors in East Asia Louis T. Wells, Jr. Comment: Peter Petri 7 Foreign Direct Investment in Semiconductors David B. Yoffie Comment: Lael Brainard 8 International Corporate Equity Acquisitions: Who, Where, and Why? Paul M. Healy and Krishna G. Palepu Comment: Michael Adler 9 Foreign Mergers and Acquisitions in the United States Deborah L. Swenson Comment: Donald Lessard
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