We survey different strategies in the transition process, and investigate their role in growth prospects. Openness, exchange rate regimes and approaches to trade and capital market liberalisation are examined. Their role in facilitating the diffusion of new products and processes to transition...

This paper constructs a theoretical model of foreign direct investment and examines the extent to which the model can explain the level of outward direct investment by U.S. companies over the last two decades. The authors find that market size and factor costs, both labor and capital, are...

The globalisation of the world economy has raised many fears for employment and growth in the advanced economies. Foreign investment has been one of the major factors driving globalisation. The papers in this volume address the role of German foreign investment in the European growth process....