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OverviewWhat makes a country attractive to foreign investors? To what extent do conditions of governance and politics matter? This book provides the most systematic exploration to date of these crucial questions at the nexus of politics and economics. Using quantitative data and interviews with investment promotion agencies, investment location consultants, political risk insurers, and decision makers at multinational corporations, Nathan Jensen arrives at a surprising conclusion: Countries may be competing for international capital, but government fiscal policy--both taxation and spending--has little impact on multinationals' investment decisions. Although government policy has a limited ability to determine patterns of foreign direct investment (FDI) inflows, political institutions are central to explaining why some countries are more successful in attracting international capital. First, democratic institutions lower political risks for multinational corporations. Indeed, they lead to massive amounts of foreign direct investment.Second, politically federal institutions, in contrast to fiscally federal institutions, lower political risks for multinationals and allow host countries to attract higher levels of FDI inflows. Third, the International Monetary Fund, often cited as a catalyst for promoting foreign investment, actually deters multinationals from investment in countries under IMF programs. Even after controlling for the factors that lead countries to seek IMF support, IMF agreements are associated with much lower levels of FDI inflows. Full Product DetailsAuthor: Nathan M. JensenPublisher: Princeton University Press Imprint: Princeton University Press Dimensions: Width: 15.20cm , Height: 1.30cm , Length: 23.50cm Weight: 0.312kg ISBN: 9780691136363ISBN 10: 069113636 Pages: 224 Publication Date: 10 February 2008 Audience: Professional and scholarly , College/higher education , Professional & Vocational , Tertiary & Higher Education Format: Paperback Publisher's Status: Active Availability: Manufactured on demand  We will order this item for you from a manufactured on demand supplier. Language: English Table of ContentsList of Illustrations ix Preface xi List of Abbreviations xv Chapter 1: Introduction 1 Chapter 2: Multinational Firms and Domestic Governments 23 Chapter 3: Theory 40 Chapter 4: The Race to the Bottom Thesis and FDI 53 Chapter 5: Democracy and FDI 72 Chapter 6: Veto Players and FDI 100 Chapter 7: The IMF and FDI Inflows 129 Chapter 8: Conclusion 146 Notes 157 References 167 Index 185ReviewsNathan Jensen has written an interesting, empirically grounded, and provocative book... It is a serious effort to think about and test the impact of political institutions on multinational firms and flows of foreign direct investment... This is worthwhile reading for anyone interested in the political economy of FDI. -- Stephen J. Kobrin Perspectives on Politics """Nathan Jensen has written an interesting, empirically grounded, and provocative book... It is a serious effort to think about and test the impact of political institutions on multinational firms and flows of foreign direct investment... This is worthwhile reading for anyone interested in the political economy of FDI.""--Stephen J. Kobrin, Perspectives on Politics ""[T]he book captures the impact of political institutions on multinational investments and contributes to international business, organizational economics, and institutional literature streams. To the global audience, nation-states keen on enticing foreign investors will benefit from Jensen's insight.""--Amit Jain, Enterprise and Society" Author InformationNathan M. Jensen is assistant professor of political science at Washington University in St. Louis. Tab Content 6Author Website:Countries AvailableAll regions |
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