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ABOUT THE BOOK : |
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After three years of decline in global investment flows, there are signs of
revival. With global economic growth improving in 2004, prospects for global investment look
bright. This is particularly the case in services, which make up the largest economic sector
in many countries, and which dominate foreign direct investment. The World Investment
Report 2004 looks at the shift towards services and examines the challenges and
opportunities that arise for development. |
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CONTENTS IN DETAIL : |
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PREFACE
ACKNOWLEDGEMENTS
ABBREVIATIONS
OVERVIEW
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PART ONE
FDI SET TO RECOVER |
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CHAPTER I. GLOBAL FDI GROWTH SET TO RESUME
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A. |
FDI inflows down again - but recovery is on its way |
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1. |
An uneven picture |
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2. |
International production continues to grow |
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3. |
Many countries have not realized their potential |
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a. |
Indices of Inward FDI Performance and
Potential |
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b. |
The Outward FDI Performance Index |
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B. |
Outward FDI from developing countries is becoming
important |
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C. |
Changing sectoral distribution |
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D. |
Prospects: growth set to resume |
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Annex to chapter I. How transnational are TNCs? |
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CHAPTER II. REGIONAL FDI TRENDS: A MIXED PICTURE |
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A. |
Developing countries |
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1. |
Africa: a turnaround |
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a. |
Inflows regain momentum |
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b. |
Policies increasingly liberal |
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c. |
Natural resources and services dominate |
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d. |
Prospects are positive |
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2. |
Asia and the Pacific: a rebound |
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a. |
A mild upturn |
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b. |
Policies improved further |
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c. |
Services FDI on the rise |
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d. |
Promising prospects |
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3. |
Latin America and the Caribbean: another
disappointing year |
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a. |
A continuous decline |
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b. |
Policy developments: continued
liberalization |
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c. |
Sectoral patterns |
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d. |
Better prospects ahead |
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B. |
Central and Eastern Europe: awaiting the boom |
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1. |
Inward FDI sharply down, outward FDI sharply up |
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a. |
Inward FDI: new EU members performed less
well than other CEE countries |
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b. |
FDI outflows: robust increase |
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2. |
Implications of EU membership for national policy |
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3. |
A shift towards services brings about structural
change |
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4. |
Prospects: again sunny |
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C. |
Developed countries: the decline continues, but
prospects are good |
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1. |
Uneven trends |
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2. |
Policy responses |
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3. |
Services dominate |
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4. |
Prospects: FDI will pick up again, but not
everywhere |
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PART TWO
THE SHIFT TOWARDS SERVICES |
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CHAPTER III. THE GROWTH OF FDI IN SERVICES AND ITS
IMPLICATIONS
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A. |
Changing patterns of FDI in services |
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1. |
The growth of services FDI and its changing mix |
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2. |
Changing distribution among home and host
countries |
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a. |
Outward FDI |
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b. |
Inward FDI |
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3. |
Transnationalization is lower in the services
sector and differs by industry and country |
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4. |
Non-equity forms of investment are common in
services |
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B. |
Players and driving forces |
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1. |
Goods TNCs invest in services |
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2. |
Service TNCs are expanding rapidly |
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a. |
The players |
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b. |
M&As take the lead in entry patterns |
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c. |
Catching up with manufacturing TNCs? |
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3. |
Drivers and determinants |
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4. |
Most services FDI is still market-seeking – but
this is changing |
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C. |
Impact on host countries |
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1. |
Financial resources and balance of payments |
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2. |
Services provision, competition and crowding out |
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3. |
Technology, knowledge and skills |
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4. |
Export competitiveness |
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5. |
Employment |
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6. |
An assessment |
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Annex to chapter III. What are services? Classifying invisibles |
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CHAPTER IV. THE OFFSHORING OF CORPORATE SERVICE
FUNCTIONS: THE NEXT GLOBAL SHIFT?
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A. |
The tradability revolution |
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1. |
The tradability of services |
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2. |
Limitations to offshoring |
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3. |
Is the globalization of IT-enabled services
different from that of manufacturing? |
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B. |
156Future prospects for the offshoring of services |
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C. |
Outsourcing vs. captive business models |
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1. |
What determines how offshoring is undertaken? |
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2. |
A new breed of TNCs provides services globally |
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D. |
Search for competitiveness drives corporate offshoring |
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1. |
FDI related to the offshoring of services is still
concentrated |
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2. |
Cost reduction and improved quality are key
drivers |
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3. |
European TNCs offshore less than their United
States rivals |
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E. |
Search for competitiveness drives corporate offshoring |
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1. |
India |
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2. |
Other Asian locations |
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3. |
Latin America and the Caribbean |
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4. |
Africa |
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5. |
Central and Eastern Europe |
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F. |
Implications for home countries |
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PART THREE
NATIONAL AND INTERNATIONAL POLICY CHALLENGES |
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INTRODUCTION
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CHAPTER V. NATIONAL POLICIES
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A. |
Host-country policies on services are key to
development gains |
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1. |
Countries are opening up to FDI in services |
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2. |
Benefits from FDI in infrastructure-related
services: the case of privatization |
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3. |
Promotion of FDI in services |
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a. |
Investment promotion agencies increasingly
target services |
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b. |
The role of incentives |
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c. |
EPZs in developing countries see potential
in services |
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d. |
Infrastructure and skills development |
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e. |
Regulatory issues related to data
protection and intellectual property |
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4. |
Benefiting more from services FDI: upgrading and
linkages |
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B. |
Home countries: the challenge of adapting |
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1. |
The reaction to offshoring in the United States |
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2. |
The European response |
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a. |
The United Kingdom |
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b. |
Other European responses |
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3. |
Reactions in other developed countries |
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4. |
Meeting the challenge of adapting |
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C. |
Conclusions |
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CHAPTER VI. NATIONAL AND INTERNATIONAL POLICIES: A
COMPLEX AND DYNAMIC INTERACTION
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A. |
The growing multifaceted network of services IIAs |
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1. |
The evolving nature of approaches covering FDI in
services |
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2. |
Salient features |
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B. |
Complexities and challenges |
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C. |
National and international policies: a complex and
dynamic interaction |
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D. |
Conclusion: striking a development-oriented balance |
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REFERENCES
SELECTED UNCTAD PUBLICATIONS ON TNCs
AND FDI
QUESTIONNAIRE
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