Investments in the Service Sector: Nature and Experience

  • Carl H. McMillan
Part of the Trade Policy Research Centre book series (TPRC)


Multinational enterprises generally have directed an increasing share of their investments to the tertiary, services sector and, as latecomers, the Comecon countries have mirrored this global trend in the structure of their own foreign investments. Direct engagement in a variety of services abroad, especially in the OECD economies, has been a major Comecon objective for multinational enterprise. This chapter will look more closely at these investments, attempting in particular to assess to what extent the multinational operations of Comecon state enterprises have in practice approached the policy objectives set for them in this area.


Foreign Direct Investment Foreign Investment Foreign Trade Multinational Enterprise Foreign Banking 
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Notes and References

  1. 17.
    Lenin stressed the role of banks, including their direct operations through branches abroad, as important instruments of capitalist imperialism. (Lenin, Imperialism, op. cit., Chs. III and IV.) For further discussion of Soviet and East European banking operations abroad, see A. Zwass, Monetary Cooperation between East and West (White Plains, New York: International Arts and Sciences Press, 1976), p. 215 et seq.; Wilczynski, The Multinationals and East-West Relations, op. cit., p. 144 et seq.; S. Tyrka, ‘Multinationalisation des activités bancaires des pays de l’Est’, Banque, October 1976;Google Scholar
  2. Rabin, ‘Soviet-Owned Banks in Europe: their Development and Contribution to Trade with the West’ , unpublished Ph.D dissertation, The Johns Hopkins University, 1977;Google Scholar
  3. Wilczynski, Comparative Monetary Economics (London: Macmillan, 1978) pp. 42–9;CrossRefGoogle Scholar
  4. and Danylyk and Rabin, ‘Soviet-Owned Banks in the West’, in Soviet Economy in a Time of Change, Vol. 2 (Washington, DC: US Government Printing Office, for the Joint Economic Commission, US Congress, 1979) pp. 482–505.Google Scholar
  5. 30.
    See C. Haymen, ‘Soviet Shipping’, Seatrade, February 1976; Soviet Oceans Development (Washington, DC: US Government Printing Office, for the Committee on Commerce, US Congress, 1976) and The Atlantic Council of the United States, The Soviet Merchant Marine (Boulder, Colorado: Westview Press for the Council, 1979).Google Scholar

Copyright information

© Carl H. McMillan and the Trade Policy Research Centre 1987

Authors and Affiliations

  • Carl H. McMillan
    • 1
  1. 1.Carleton UniversityOttawaCanada

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