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Book synopsis

Most industrialised economies rely increasingly on knowledge-based activities. The processes of globalisation and European integration have simultaneously encouraged the growth of foreign direct investment, with multinational companies helping to transmit firm-specific technologies and ideas across national borders. Governments and local development agencies are engaged in fierce competition to attract inward investment in the belief that such investments offer wider benefits for host locations. In Inward Investment, Technological Change and Growth leading authors in the fields of international investment and the behaviour of national and multinational firms combine innovative methodologies and firm-level data to enable empirical evaluation of the impact of inward investment. The contributors identify the key channels through which inward investment might be expected to affect host economies and provide quantitative evidence on the comparative impact of multinational corporations on the size and industrial structure of the UK economy. The findings suggest that inward investment has made an important and significant contribution to economic growth in Britain over the past two decades. Foreign owned firms are found to have higher levels of productivity than domestics ones, and to have a growing impact on the level of innovation and export performance. Direct productivity spillovers and competition from inward investors are shown to have helped improve the performance of UK-owned firms, although the impact has varied by industry and region. These detailed studies of aspects of inward investment in the UK are put into context through a review of existing literature and by comparison of UK developments to those experienced by French, Italian, German and US economies. The empirical techniques used in the volume can readily be applied to other economies, and can be used both to evaluate the net benefits of inward investment and to help design appropriate policies and institutions to maximise the size of those benefits.

Book details

• Full title: Inward Investment, Technological Change and Growth
• Subtitle: The Impact of Multinational Corporations on the UK Economy
• Author: N. Pain
• Language: English
• Binding: Hardback
• Number of pages: 273
• EAN: 9780333925362
• ISBN: 033392536X
• ID: 04600207
• Publisher: PALGRAVE MACMILLAN
• Weight: 462 g
• Dimensions: 216 × 140 × 19 mm
• Date of publishing: 06. December 2000

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