The role of multinationals in economic development: The benefits of FDI |
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| Institution: | 1. Department of International Business, National Taiwan University, No. 1, Section 4, Roosevelt Road, Taipei 106, Taiwan, ROC;2. Sir John Cass Business School, City University London, 106 Bunhill Row, London EC1Y 8TZ, UK;3. Vienna University of Economics and Business, Austria;1. The Vienna Institute for International Economic Studies, Vienna, Austria;2. Central Bank of Montenegro, Podgorica, Montenegro;3. University College London, School of Slavonic and East European Studies, London, United Kingdom;4. National Research University, Higher School of Economics St. Petersburg, St. Petersburg, Russia;5. University of Dubrovnik, Department of Economics and Business, Dubrovnik, Croatia;6. Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia;7. Centre for Financial and Corporate Integrity, Coventry University, Coventry, United Kingdom;8. Staffordshire University Business School, Stoke-on-Trent, United Kingdom;1. Leeds University Business School, University of Leeds, Leeds, UK;2. Leeds Business School, Leeds Beckett University, Leeds, UK;3. Preston University, 85 Street 3, Sector H 8/1, Islamabad, Pakistan;4. Salford Business School, University of Salford, Greater Manchester, UK |
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| Abstract: | During her five years at the World Bank, Harrison initiated four studies involving multinational enterprises in four developing countries: Ivory Coast, Mexico, Morocco and Venezuela. These studies measure the role of multinational enterprises in promoting technology transfer; test whether multinationals push up wages for local workers; and analyze the validity of the “pollution haven hypothesis,” which states that foreign investors flock to developing countries to take advantage of lax environmental standards. Harrison finds no evidence of pollution havens and shows that multinationals raise wages for local workers. However, she finds that technology transfer has generally been limited to the joint ventures who receive foreign equity participation. |
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