International investment patterns

Article Abstract:

A new directory compiled by John Dunning and John Cantwell provides data on the international investment position of some 80 countries. One significant finding of the report is that the US is no longer the dominant source of multinational expansion. Multinational corporations with headquarters outside of the US have been expanding more rapidly than US-based firms. The report examines countries as both hosts to direct investment from foreign-owned firms and as countries that are the home to companies that invest abroad. The level of investment in the US is now as great as the level of foreign investment in Europe. Japanese outward investment has been growing at an annual rate of 18.3 percent, and Japan is now the third largest source of direct foreign investment behind the US and Great Britain.

Analysis, Directories

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Ghana's new investment code

Article Abstract:

Ghana's economic performance under the government of Flight Lieutenant Jerry Rawlings is disastrous, with a GDP contractions of 1.3 percent a year for the period from 1965 to 1983, according to the World Bank. The government has been a strong advocate of economic self-reliance and social mobilization, which policies have produced shortages in all segments of the economy. Nonetheless, the Rawlings government has lately dictated a new foreign investment code to attract capital, as part of an IMF-promoted recovery program. The new investment code allows foreign companies to send back 25 percent of their earnings.

Economic aspects, Political aspects, Ghana, International trade regulation

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Offshore funds survive the UK Chancellor's attack

Article Abstract:

Offshore funds operating close to Great Britain (but outside its jurisdiction) are under attack by the U.K. government. By 1984, it is estimated that over $4 billion are deposited offshore in the Channel Islands and the Isle of Man. The 1984 Finance Act appears to have motivated the offshore funds' administrators to promote their business more aggressively instead of preventing U.K. residents from hiding funds offshore. The main sources of money for these funds are Middle East oil revenues, employees from multinational corporations, and investors from countries that impose high taxes on capital gains.

United Kingdom, Economic policy, Mutual funds, Great Britain

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