The international investment account of the United States has gone through several cycles. Before World War I, the U.S. was a borrower most of the time and an international debtor. Between the two World Wars, it was first a lender and then a refuge for foreign capital. After World War 11, the...

This study examines the relationship between Japan's manufactured exports to individual markets and the economic activities of foreign manufacturing affiliates of Japanese multinational corporations (MNCs) and U.S. MNCs in those markets. First, the relationships between Japanese export levels...

Among developing countries, there was no gross relationship between real income per capita in 1960 and subsequent growth in per capita income. However, once other significant influences, such as education, changes in labor force participation rates, inflows of foreign investment, price...

This paper reviews the main developments in U.S. trade and the balance of payments from the first years of the 19th century to the first decade of the 20th. American export trade was dominated by agricultural and other resource products long after the majority of the labor force had shifted out...

Foreign-owned manufacturing firms' shares of U.S. trade grew from almost nothing in the 1960s to 7 or 8 per cent of trade in manufactured goods by the 1980s. It has changed little in the past decade, except for fluctuations related to changing U.S. exchange rates. Foreign-owned firms are less...

The purpose of this paper is to describe the behavior of that subset of prices and price indexes that is relevant to the theory of balance of payments adjustment. The theoretical writings on the balance of payments may be viewed at this juncture as falling into two main groups -- the "standard"...

While the U.S. and Sweden both lost more than 20 per cent of their shares of world and developed countries' exports of manufactures over the 15 years or so after the mid-1960's, the export shares of their multinational firms stayed fairly stable or even increased. The multinationals, while first...

Prices of food vary greatly among the developed countries, and some countries' food prices have been consistently far above the OECD average. The main explanation for persistently high food price levels is the extent of protection of agricultural products at the farm level, partly explainable by...

One of the main purposes of our studies of U.S.-based multinational firms has been to examine the relationship between direct investment by U.S. firms and the export trade of the United States, a subject of bitter controversy for at least the last fifteen years. Changes over time in trade flows...

We document a set of bilateral trade data by commodity for 1962-2000, which is available from www.nber.org/data (International Trade Data, NBER-UN world trade data). Users must agree not to resell or distribute the data for 1984-2000. The data are organized by the 4-digit Standard International...