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Multinational Enterprises and Economic Development in Host Countries: What We Know and What We Don’t Know

In: Development Finance

Author

Listed:
  • Rajneesh Narula

    (University of Reading)

  • André Pineli

    (University of Reading)

Abstract

The attraction of multinational enterprises (MNEs) has become a key component of development policies, although the net benefits of an FDI-assisted development strategy depends not only on the quantity of FDI but also on the MNE’s investment motivations, the affiliates’ mandate and autonomy, which in turn determine the potential for linkages and spillovers. These effects also depend on the capacity of domestic firms to absorb, internalise and upgrade their knowledge assets. However, the tools to measure linkages and spillovers are increasingly outdated, as ‘FDI’ and ‘MNEs’ are no longer synonyms, since MNEs are increasingly able to control value chains without ownership through equity. This means that objectively judging if MNE activity have a net positive or negative effect, and whether such effects persist or attenuate over time, is increasingly complicated.

Suggested Citation

  • Rajneesh Narula & André Pineli, 2017. "Multinational Enterprises and Economic Development in Host Countries: What We Know and What We Don’t Know," Palgrave Studies in Impact Finance, in: Gianluigi Giorgioni (ed.), Development Finance, chapter 6, pages 147-188, Palgrave Macmillan.
  • Handle: RePEc:pal:psifcp:978-1-137-58032-0_6
    DOI: 10.1057/978-1-137-58032-0_6
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    JEL classification:

    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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