ISBN 92-808-0944-X 1997, 346 pages US$29.95, paper

The global economy of the 1990s is being driven by cross-border direct investments and cooperative business ventures on a unprecedented scale. Not only is international investment growing faster than world output and trade, but an increasing share of the markets for goods and services, capital and technology, is being intermediated by transnational firms, large and small.

The impact of this globalization of business on developing countries is the focus of this book. Who are the probable winners and losers? How are governments responding, in terms of national policies and regional approaches, and how does it translate in the signals they set for companies? Are there any winning strategies in the more competitive global economic environment of the 1990s? And how can the international community best support these strategies.

The early signs of globalization warned of a marginalization of developing countries but, as the contributions in this book show, an increasing number of developing countries from all regions are actively participating in the globalization of production and markets. Their success suggests that there is much that countries can do to create or acquire the human competencies and physical capital necessary to benefit from the new globalism.

John H. Dunning is Professor of International Business at the University of Reading and Rutgers University. Khalil A. Hamdani is Senior Economist at the United nations and Section Chief in the investment programme of UNCTAD. The other contributors are: Yair Ahroni, Albert Bressand, John Cantwell, Daniel Chudnovsky, Seev Hirsch, Louka T. Katseli, Sanjaya Lall, Robert Z. Lawrence, Linda Lim, Nathaniel Siddall, and Stephen Thomsen.