ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Private Foreign Investment-A Comment

January 29, 1977 IN his able analysis of the 'Theories of Direct Private Foreign Investment and August 1976), Sanjaya Lall has sought to provide, in his own words, "a synthesis of recent theories of foreign investment in the manufacturing sector and of explanations of the growth of multinational corporations (MNCs)" His concern, however, appears to be why MNCs seek to invest at all in developing countries rather than why the host governments tend to seek such direct investment from foreign companies, Lall himself says that "no attempt is made in his paper to discuss the effects of MNCs on host countries''. It is thus, at best, an one-sided presentation, and not a "synthesis" of theories of foreign investment. Any such synthesis should present both sides of the picture and also point out what could be the profitable alternatives for the MNCs and the host countries alike. This is what is attempted in this comment so as to import a measure of balance to the admirable, albeit limited, analysis of Lall.

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