Investing in Development: New Roles for Private Capital?

Abstract

Excellent and exceptionally timely. --Foreign Affairs This volume surveys current views in the debate about the impact of foreign direct investment on Third World development--on growth, employment, exports, technology, and distribution of income. It examines whether the efforts of less developed countries to attract and control multinational corporations have constituted a serious distortion of trade that threatens jobs in the home nations. It provides new studies of foreign investment in agriculture and in the least developed states. It looks at the threat of transmitting environmental pollution. And it analyzes the link between international companies and the umbrella of World Bank cofinancing as a mechanism to reduce risk. Finally, it attempts to estimate how much of the gap in commercial bank lending might plausibly be filled by direct corporate investment over the next decade.

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