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World Investment Report - 2004   
World Investment Report 2004
The Shift Towards Services
UNITED NATIONS, New York and Geneva
Reprinted in India by Academic Foundation, New Delhi.
Paper  Back Book   :   Pages : 438
2005  Edition         :   ISBN - 81-7188-446-6
Price : Rs. 995.00  
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ABOUT THE BOOK :

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.


CONTENTS IN DETAIL :

PREFACE

ACKNOWLEDGEMENTS

ABBREVIATIONS

OVERVIEW

 

PART ONE
FDI SET  TO RECOVER

 

CHAPTER I. GLOBAL FDI GROWTH SET TO RESUME

A.

FDI inflows down again - but recovery is on its way

1.

An uneven picture

2.

International production continues to grow

3.

Many countries have not realized their potential

a.

Indices of Inward FDI Performance and Potential

b.

The Outward FDI Performance Index

B.

Outward FDI from developing countries is becoming important

C.

Changing sectoral distribution

D.

Prospects: growth set to resume

Annex to chapter I. How transnational are TNCs?

 

CHAPTER II. REGIONAL FDI TRENDS: A MIXED PICTURE

A.

Developing countries

1.

Africa: a turnaround

a.

Inflows regain momentum

b.

Policies increasingly liberal

c.

Natural resources and services dominate

d.

Prospects are positive

2.

Asia and the Pacific: a rebound

a.

A mild upturn

b.

Policies improved further

c.

Services FDI on the rise

d.

Promising prospects

3.

Latin America and the Caribbean: another disappointing year

a.

A continuous decline

b.

Policy developments: continued liberalization

c.

Sectoral patterns

d.

Better prospects ahead

B.

Central and Eastern Europe: awaiting the boom

1.

Inward FDI sharply down, outward FDI sharply up

a.

Inward FDI: new EU members performed less well than other CEE countries

b.

FDI outflows: robust increase

2.

Implications of EU membership for national policy

3.

A shift towards services brings about structural change

4.

Prospects: again sunny

C.

Developed countries: the decline continues, but prospects are good

1.

Uneven trends

2.

Policy responses

3.

Services dominate

4.

Prospects: FDI will pick up again, but not everywhere

PART TWO
THE SHIFT TOWARDS SERVICES

 

CHAPTER III. THE GROWTH OF FDI IN SERVICES AND ITS IMPLICATIONS

A.

Changing patterns of FDI in services

1.

The growth of services FDI and its changing mix

2.

Changing distribution among home and host countries

a.

Outward FDI

b.

Inward FDI

3.

Transnationalization is lower in the services sector and differs by industry and country

4.

Non-equity forms of investment are common in services

B.

Players and driving forces

1.

Goods TNCs invest in services

2.

Service TNCs are expanding rapidly

a.

The players

b.

M&As take the lead in entry patterns

c.

Catching up with manufacturing TNCs?

3.

Drivers and determinants

4.

Most services FDI is still market-seeking but this is changing

C.

Impact on host countries

1.

Financial resources and balance of payments

2.

Services provision, competition and crowding out

3.

Technology, knowledge and skills

4.

Export competitiveness

5.

Employment

6.

An assessment

Annex to chapter III. What are services? Classifying invisibles

CHAPTER IV. THE OFFSHORING OF CORPORATE SERVICE FUNCTIONS: THE NEXT GLOBAL SHIFT?

A.

The tradability revolution

1.

The tradability of services

2.

Limitations to offshoring

3.

Is the globalization of IT-enabled services different from that of manufacturing?

B.

156Future prospects for the offshoring of services

C.

Outsourcing vs. captive business models

1.

What determines how offshoring is undertaken?

2.

A new breed of TNCs provides services globally

D.

Search for competitiveness drives corporate offshoring

1.

FDI related to the offshoring of services is still concentrated

2.

Cost reduction and improved quality are key drivers

3.

European TNCs offshore less than their United States rivals

E.

Search for competitiveness drives corporate offshoring

1.

India

2.

Other Asian locations

3.

Latin America and the Caribbean

4.

Africa

5.

Central and Eastern Europe

F.

Implications for home countries

PART THREE
NATIONAL AND INTERNATIONAL POLICY CHALLENGES

 

INTRODUCTION

CHAPTER V. NATIONAL POLICIES

A.

Host-country policies on services are key to development gains

1.

Countries are opening up to FDI in services

2.

Benefits from FDI in infrastructure-related services: the case of privatization

3.

Promotion of FDI in services

a.

Investment promotion agencies increasingly target services

b.

The role of incentives

c.

EPZs in developing countries see potential in services

d.

Infrastructure and skills development

e.

Regulatory issues related to data protection and intellectual property

4.

Benefiting more from services FDI: upgrading and linkages

B.

Home countries: the challenge of adapting

1.

The reaction to offshoring in the United States

2.

The European response

a.

The United Kingdom

b.

Other European responses

3.

Reactions in other developed countries

4.

Meeting the challenge of adapting

C.

Conclusions

CHAPTER VI. NATIONAL AND INTERNATIONAL POLICIES: A COMPLEX AND DYNAMIC INTERACTION

A.

The growing multifaceted network of services IIAs

1.

The evolving nature of approaches covering FDI in services

2.

Salient features

B.

Complexities and challenges

C.

National and international policies: a complex and dynamic interaction

D.

Conclusion: striking a development-oriented balance

 

REFERENCES

SELECTED UNCTAD PUBLICATIONS ON TNCs AND FDI

QUESTIONNAIRE

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