 Direct Foreign Investment and North-South Trade: Uneven Development or Convergent Growth?Chapter 14 in Development Economics and Policy, 1998, pp 261-286 from Palgrave Macmillan Abstract: Abstract A persistent theme in the writings of Hans Singer (1950, 1975) is that direct foreign investment (DFI) from developed economies — collectively referred to here as the North — to less-developed economies — the South — has a detrimental effect on the latter and leads to uneven global development. While Singer’s view was shared by many, though by no means all, economists when he first propounded it, and for several years thereafter, it now seems to find few takers. In fact, in recent discussions of the effects of globalization, many scholars and Southern governments earlier critical of transnational corporations (TNCs) have softened or reversed their views,2 while concerns have instead been raised about jobs disappearing in Northern countries as capital moves to Southern countries with low wages and high productivity (thanks to the transfer of technology by the TNCs) in an increasingly globalized world economy.3 Keywords: Direct Foreign Investment; Capital Stock; Excess Demand; Transnational Corporation; Uneven Development (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-26769-9_14 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-26769-9_14 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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