This thoroughly updated and revised edition of a widely acclaimed, classic text will be required reading for academics, policymakers and advanced students of international business worldwide. Employing a distinctive and unified framework, this book draws together research across a range of academic fields to offer a synthesis of the determinants of MNE activity, and its effects on the economic and social well-being of developed and developing countries. Unique to the new edition is its focus on the institutional underpinnings of the resources and capabilities of MNEs, and the role of MNE activity in transmitting and facilitating institutional change. Since the initial publication of this book more than a decade ago, the economic, managerial and social implications of globalisation and technological advancement have become even more varied and prominent. Accompanying these developments, there has been a rise in scholarly interest in interdisciplinary research addressing the important challenges of an ever-changing physical and human environment. Drawing on articles and books from international business and economics, as well as economic geography, political economy and strategic management, a systematic overview of the developments in scholarly thinking is presented, while also highlighting the emerging topical issues and methodologies.
Contents:
Introduction to the Second Edition
PART I: FACTS, THEORY AND HISTORY
1. Definitions and Sources of Data
2. The Extent and Pattern of Foreign Direct Investment
3. The Motives for Foreign Production
4. Theories of Foreign Direct Investment
5. The Determinants of MNE Activity: The OLI Paradigm Revisited
6. The Emergence and Maturing of International Production: An Historical Excursion
PART II: INSIDE THE MULTINATIONAL ENTERPRISE
7. Entry and Expansion Strategies of MNEs
8. The Organisation of MNE Activity: The Internal Network
9. The Organisation of MNE Activity: The External Network
PART III: THE IMPACT OF MNE ACTIVITY
10. FDI, Growth and Development
11. Technology and Innovatory Capacity: The Role of Firms
12. Technology and Innovatory Capacity: The Role of Government
13. Employment and Human Resource Development
14. The Balance of Payments and the Structure of Trade
15. Market Structure, Performance and Business Practices
16. Linkages, Spillovers and Clustering
17. Distribution of the Value Added Created by MNEs
18. Political, Cultural and Social Responsibility Issues
PART IV: IMPLICATIONS FOR POLICY
19. Governments and MNE Activity: The Unilateral Response
20. Governments and MNE Activity: The Multilateral Response
PART V: LOOKING AHEAD
21. The Future of MNEs in a Global Economy
References
Index
