World Investment Report 1999: Foreign direct investment and the challenge of development

WIR 99 is the ninth Report in an annual series that has been recognized as the most up-to-date and comprehensive source of information as well as analysis regarding foreign direct investment (FDI). Part I, entitled Trends,examines the most recent global and regional trends in FDI. It describes the world´s 100 largest TNCs, the 50 largest TNCs in developing countries and the 25 largest TNCs in Central Europe; analyses the momentum for an increasing globalization of economies through FDI and the activities of TNCs; and explores the growing importance of mergers and acquisitions in fuelling FDI flows. It also reviews recent developments in bilateral and regional investment agreements including the reasons for the end of negotiations of the Multilateral Agreement on Investment. Part II, entitled FDI and the Challenge of Development, looks at the impact of FDI on key objectives of economic development: increasing financial resources for investment, enhancing technological capabilities, boosting export competitiveness, generating and upgrading employment, and protecting the environment. The Report concludes that although FDI can yield major economic benefits for the host country, such benefits can be enhanced through appropriate policies. Governments therefore have an important role to play in creating the conditions that attract FDI and in maximizing the positive contribution that FDI can make to growth and development.