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The role of multinationals in sparking industrialization: From 'infant industry protection' to 'FDI-led industrial take-off'

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  • Ozawa, Terutomo

Abstract

Economic development has recently been time-compressed due to an ever-accelerating cross-border dissemination of industrial knowledge, especially at the hands of MNEs. And a new "open-door" strategy of industrial catch-up has come to be adopted, as best exemplified by China's FDI-led take-off, a strategy that is designed to capitalize on the profit-seeking activities of multinationals. This new approach needs to be conceptualized as such, replacing the time-honored conventional "closed-economy" doctrine of infant-industry protection (or import substitution).

Suggested Citation

  • Ozawa, Terutomo, 2011. "The role of multinationals in sparking industrialization: From 'infant industry protection' to 'FDI-led industrial take-off'," Columbia FDI Perspectives 39, Columbia University, Columbia Center on Sustainable Investment (CCSI).
    • Handle: RePEc:zbw:colfdi:39
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