The Pros and Cons of direct investment promotion measures in overseas countries have recently become the subject of fierce controversy in all industrialised countries, including the Federal Republic of Germany. Advocates and opponents of such measures, however, almost exclusively try to analyse...

Disappointment about the results of import substituting industrialization strategies as well as the spectacular performance of a few newly industrialised countries have led many developing countries to switch in the 1970s to export oriented industrialization. This analysis cautions against any...