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Foreign Direct Investment: A Brief Overview of the Micro Issues

In: Foreign Investment in Rapidly Growing Countries

Author

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  • Sumon Kumar Bhaumik

Abstract

During the 1960s through the 1980s, economists debated ad nauseum whether or not a country should pursue export oriented policies. Countries such as South Korea, Thailand, Malaysia and, of course, Japan were cited as examples of export-led growth, and countries such as India were urged to replace their policies of import substitution with outward orientation. This debate culminated in the General Agreement on Tariffs and Trade (GATT), with the general consensus that trade was good for economic growth.

Suggested Citation

  • Sumon Kumar Bhaumik, 2005. "Foreign Direct Investment: A Brief Overview of the Micro Issues," Palgrave Macmillan Books, in: Harbhajan S. Kehal (ed.), Foreign Investment in Rapidly Growing Countries, chapter 2, pages 23-45, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-55488-7_2
    DOI: 10.1057/9780230554887_2
    as

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