《FOREIGN DIRECT INVESTMENT IN THE UNITED STATES》求取 ⇩

Introduction1

1 Extent and Trends7

What Is FDI?7

What Is the Nationality of a Firm?7

What Constitutes Control?8

The Rise of FDI: Alternative Measures10

The Stock of FDI12

Assets of Foreign Affiliates14

Employment by Foreign Affiliates14

Value Added by Foreign Affiliates15

The Mechanics of FDI16

The Role of Japan18

Banking19

Real Estate21

FDI in Other Countries24

Conclusions26

2 Sources of Growth27

The Theory of FDI27

Evidence on FDI in the United States30

The Role of Financial Markets35

Taxation37

Protection39

Three Case Histories40

Color Televisions40

Automobiles41

Banking42

The Outlook for FDI43

Conclusions44

3 Economic Impact45

The Gains From FDI45

Benefits From Increased Integration45

External Benefits46

The Potential Costs of FDI47

Employment Effects48

Trade Balance Effects49

Quality of Employment51

RD and the Headquarters Effect52

Strategic Effects53

Characteristics of FDI in the United States54

Foreign Trade55

Wages and Value Added58

Research and Development58

Are Japanese Firms Different?59

The 'Fire Sale' Issue62

Conclusions64

4 Political Effects65

Strategic Effects of Foreign Ownership66

Political Influence of Foreign-Owned Firms68

How Much Does It Matter?70

International Rules of the Game71

5 National Security Implications73

FDI and National Security in Time of War or National Emergency73

Foreign Affiliates as Fifth Columns75

The Effect of Breaking Parent-Subsidiary Links79

Safeguards Against Fifth-Column Activity81

FDI by Friendly Powers85

Proscribing Foreign Control86

Maintaining the Defense Industrial Base88

Some Unresolved Issues91

6 Current US Policy95

Federal Policy95

Policy Toward Inward FDI95

Policy Toward Outward FDI101

State and Local Policies105

Comparisons With Other Nations107

Conclusions109

7 Policy Alternatives111

Increasing Disclosure Requirements113

Screening115

Reciprocity117

Performance requirements118

An Agenda for US Policy on FDI120

Strengthening Existing Policies120

FDI and National Security121

Multilateral Policy Actions125

Conclusions129

Appendices133

A US Government Data on Foreign Direct Investment135

B Industrial-Organization Explanations of Foreign Direct Investment145

References149

Index153

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