During the past twenty or so years, foreign direct investment (FDI) flows have increased at rates approaching the astounding, especially so during the 1990s. While much of the increase was due to unprecedented cross-border mergers and acquisitions among high-income countries, the amount of FDI flowing to developing nations also grew substantially. This volume examines the economics of this FDI to developing countries. Some chapters are theoretical in nature, others empirical, and still others are largely policy-oriented. Topics covered include whether FDI makes an autonomous contribution to growth in these nations and whether or not 'spillovers' are generated by this investments. Also covered are effects of policy intervention by governments on FDI flows and whether non-economic factors (e.g. cultural factors) might figure as determinants of location of FDI.

PRADEEP AGRAWAL Doctor, Institute of Economic Growth, University of Delhi, India ASHOK DEO BARDHAN Professor, Haas School of Business, University of California, USA KJETIL BJORVATN Professor, Department of Economics, Norwegian School of Economics, Norway MARTA CASTILHO Doctor, Institute for Applied Economic Research, Brazil BÉNÉDICTE COESTIER Professor, Université de Paris X, France CARSTEN ECKEL Profesor, Department of Economics, Universität Göttingen, Germany CEZAR GUEDES Professor, Universidade Federal Rural do Rio de Janeiro, Brazil JOSÉ DE GREGORIO Doctor, Banco Central de Chile, Chile SUBRATA GUPTA Doctor, Jogamaya Devi College, University of Calcutta, India MATTEO IANNIZZOTTO Doctor, Department of Economics and Finance, University of Durham, UK DWIGHT JAFFEE Profesor, Haas School of Business, University of California, USA NAGESH KUMAR Doctor, Research and Information Systems, India NIGEL J. MILLER Doctor, Department of Economics, University of York, UK MARIO GOMES OLIVARES Professor, Universidade Técnica de Lisboã, Portugal SERGE PERRIN Doctor, Agence Française de Devélopement and Ecole Nationale des Ponts et Chaussées, France JAYA PRAKASH PRADHAN Professor, School of Social Sciences, Jawaharal Nehru University, India SOLEDAD ZIGNAGO Doctor, Université de Paris I, France