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World Investment Report 2005
World Investment Report 2005 with CD

Transnational Corporations and the Internationalization of R & D

UNITED NATIONS

The work is published for and on behalf of the
United Nations.

Paper  Back Book + CD-Rom :   Pages : 364
2006  Edition         :   ISBN - 81-7188-507-1
Price : Rs. 995.00  
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ABOUT THE BOOK :

World Investment Report 2005 (WIR05) presents the latest trends in foreign direct investment (FDI) and explores the internationalization of research and development by transnational corporations (TNCs) along with the development implications of this phenomenon.

Part One highlights recent global and regional trends in FDI and international production by TNCs. Global FDI flows resumed growth in 2004, but inflows continued to decline in developed countries. This Part documents the fact that developing regions are leading the recovery in FDI flows. It also documents different trends and patterns between developed and developing countries as regards the financing component of FDI (equity investment, reinvested earnings, intra-company loans) as well as the modes of investment (mergers and acquisitions, greenfield FDI).

Part Two assesses the implications of the recent surge in R&D internationalization by TNCs. R&D activities at growing levels of complexity are increasingly being established in selected developing countries. In contrast to past experience, this R&D often goes beyond local market adaptation and involves highly complex activities targeted on global markets. The Report discusses the driving forces behind this trend and considers how host as well as home countries are affected. Finally, the Report analyses the need for active government policies to enhance development benefits from TNCs´ internationalization of R&D. The Report underlines the importance of coherent policies in order to create an environment conducive to fruitful interaction between the R&D activities of TNCs and those of domestic firms and institutions. A final chapter outlines the role of international agreements in this area.


CONTENTS IN DETAIL :

PREFACE

ACKNOWLEDGEMENTS

OVERVIEW

PART ONE
END OF THE DOWNTURN

CHAPTER I. GLOBAL TRENDS: FDI FLOWS RESUME GROWTH

A. Signs of recovery

1. Overall analysis

a. FDI inflows and outflows

b. Modes of FDI entry
c. Components of FDI flows

d. Factors contributing to the recovery

e. The importance of TNC activities in the world economy

2. The largest TNCs

a. The world’s top 100 TNCs

b. The top 50 TNCs from developing countries

c. Transnationality of the top TNCs

d. The top 10 TNCs from South-East Europe and the CIS

e. The world’s top 50 financial TNCs

3. FDI performance and potential

B. Policy development

1. National policy changes

2. International investment agreements

a. Bilateral investment treaties

b. Double taxation treaties

c. Other international agreements

d. International investment disputes

CHAPTER II. REGIONAL TRENDS: DEVELOPING REGIONS LEAD RISE IN FDI

Introduction

A. Developing countries

1. Africa: FDI inflows remain buoyant, sustained by investments in primary production

a. Trends: FDI continues to flow, mostly to natural resources

b. Policy developments: efforts to stabilize the environment for FDI inflows

c. Prospects: cautiously positive

2. Asia and Oceania: inflows at a record high

a. Trends: strong growth in FDI flows

b. Policy developments: favourable measures continue

c. Prospects: increasingly bright

3. Latin America and the Caribbean: FDI inflows rebound

a. Trends: a resurgence of FDI inflows in many countries

b. Policy developments: some changes in the area of natural resources

c. Prospects: growing opportunities

B. South-East Europe and CIS: FDI rises for the fourth year in a row

1. Trends: FDI inflows sharply up

2. Policy developments: diversity in policy approaches

3. Prospects: continuing growth

C. Developed countries: uneven performance

1. Trends and developments: a turnaround in many countries

2. Policy developments: diverging tendencies

3. Prospects: positive overall

PART TWO
R & D INTERNATIONALIZATION AND DEVELOPMENT

INTRODUCTION

CHAPTER III. INNOVATION, R&D AND DEVELOPMENT

A. Innovation matters for all countries

B. Global R&D trends

1. R&D is geographically concentrated

2. R&D by industry

3. Capability needs and benefits differ across activities

C. The innovation capability gap

1. Measuring innovation capabilities

2. The UNCTAD Innovation Capability Index

D. Conclusion

CHAPTER IV. R&D BY TNCS AND DEVELOPING COUNTRIES

A. TNCs are dominant R&D players

B. R&D by TNCs is internationalizing

1. A growing share of TNCs’ R&D is performed abroad

2. The growing role of foreign affiliates in host-country R&D

3. Growing use of strategic alliances

C. The emergence of developing economies as locations for TNCs’ R&D

1. TNCs are expanding R&D to developing locations

2. Foreign affiliates in patenting by developing economies

D. Features of R&D undertaken in developing, South-East European and CIS markets

1. Industry composition of R&D by TNCs in developing countries

2. Types of R&D

a. Asia and Oceania: dynamic trends

b. Latin America and the Caribbean: limited R&D but with potential

c. Africa: generally marginal in R&D by TNCs

d. A comparison with economies in transition

E. Developing-country TNCs are also expanding R&D abroad

F. Prospects

CHAPTER V. DRIVERS AND DETERMINANTS

A. What drives the internationalization of R&D?

B. Host-country determinants of R&D location

C. How to internationalize R&D

1. R&D outsourcing is growing

2. Greenfield versus acquisition

Annex to Chapter V. The rise of chip design in Asia: a case study

1. Pull factors

2. Policy factors

3. Push factors

a. Changes in design methodology and organization

b. More outsourcing and multiple design interfaces

c. Changing skill requirements

4. Enabling factors

CHAPTER VI. DEVELOPMENT IMPLICATIONS

A. New development opportunities in the making

B. Implications for host countries

1. Effects on the structure and performance of an NIS

2. Human resource implications

3. Knowledge spillovers from R&D by TNCs

4. Contributions to industrial upgrading

5. Potential concerns related to R&D internationalization

C. Implications for home countries

1. Improved overall R&D efficiency

2. Reverse technology transfer implications

3. Market expansion implications

4. Home country concerns

D. Conclusion

CHAPTER VII. THE ROLE OF NATIONAL POLICIES

A. Coherent policies and institutions make a difference

B. Strengthening the institutional framework for innovation

1. Fostering human resources

a. Development of skilled human resources

b. Importing human resources

2. The role of research capabilities in the public sector

3. Policies related to intellectual property

4. Competition policy and innovation

C. Promotion of R&D-related FDI

1. The role of investment promotion agencies

2. Performance requirements

3. The use of R&D incentives is expanding

4. Using science parks as attractors

D. Industry-specific policies to enhance the benefits of FDI in R&D

E. The role of home countries

F. Concluding remarks

CHAPTER VIII. THE INTERNATIONAL FRAMEWORK

A. International investment agreements

1. Entry and establishment

2. Performance requirements

3. Incentives 230

4. Key personnel 

5. General protection of FDI in R&D

6. Home-country measures and corporate social responsibility

B. International rules relating to IPRs

C. International cooperation in R&D

REFERENCES

SELECTED UNCTAD PUBLICATIONS ON TNCs AND FDI

QUESTIONNAIRE

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