Abstract
This chapter aims to re-examine the facts, the hypotheses, and the back catalogue of empirical findings on US foreign direct investment (FDI) in the EU over an era in which US multinational enterprises (MNEs) enjoyed undisputed precedence. It considers how this body of studies relates to current research on the prospects for EU market integration and the likely behaviour of multinational firms. It also reflects on the changing nature of FDI, particularly the supplanting of old investment patterns within the EU, which were orientated towards individual national markets.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Bailey, M.J. and Tavlas, G.S. (1991) ‘Exchange rate variability and direct investment’, in M. Ulan, (ed.), The Annals of the American Academy of Political and Social Science: Foreign investment in the United States, vol. 516 (July), pp. 106–17.
Bandera, V.N. and White, J.T. (1968) ‘US direct investments and domestic markets in Europe’, Economia Internazionale, 21 (1), pp. 117–33.
Boatwright, B.D. and Renton, G.A. (1975) ‘An analysis of United Kingdom inflows and outflows of direct foreign investment’, Review of Economics and Statistics, 57, (4), pp. 478–86.
Buckley, P.J. and Casson, M.C. (1976) The Future of the Multinational Enterprise (London: Macmillan).
Buckley, P.J. and Casson, M.C. (1981) ‘The optimal timing of a foreign direct investment’, Economic Journal 92 (361), pp. 75–87,
reprinted as Chapter 5 in P.J. Buckley and M.C. Casson, The Economic Theory of the Multinational Enterprise (London: 1985 Macmillan).
Buckley, P.J. and Casson, M.C. (1985) The Economic Theory of the Multinational Enterprise (London: Macmillan).
Buckley, P.J., Berkova, Z. and Newbould, G.D. (1983) Direct Investment in the UK by Smaller European Firms (London: Macmillan).
Cantwell, J. A. (1988). ‘The reorganisation of European industries after integration: selected evidence on the role of multinational enterprise activities’ in J.H. Dunning, and P. Robson, (eds), Multinationals and the European Community (Oxford: Blackwell), pp. 25–50.
Caves, R.E. (1971) ‘International corporations: the industrial economics of foreign investment’, Economica, 38 (February), pp. 1–27,
reprinted as Chapter 11 in J.H. Dunning (ed.), International Investment (Harmondsworth: 1972 Penguin Books).
Caves, R.E. (1990) ‘Exchange rate movements and foreign direct investment in the United States’, in D.R. Audretsch and M.P. Claudon, (eds), The Internationalization of US Markets (New York: New York University Press) pp. 199–229.
Cecchini, P. et al. (1989) — 1992: the Benefits of a Single Market (Aldershot: Wildwood House).
Clegg, J. (1993) ‘Investigating the determinants of service sector foreign direct investment’, Chapter 5 in H.J. Cox, Clegg and G. Ietto-Gillies (eds), The Growth of Global Business (London: Routledge), pp. 85–104.
Commission of the European Communities (CEU) (1988) The Costs of Non-Europe, vols 4, 5, 6, 7 (Luxembourg: Office for Official Publications of the European Communities).
Culem, C.G. (1988) ‘The locational determinants of direct investments among industrialised countries’, European Economic Review, 32 (4), pp. 885–904.
Cushman, D.O. (1985) ‘Real exchange rate risk, expectations, and the level of direct investment’, Review of Economics and Statistics, 67, pp. 297–308.
Dunning, J.H. (1977) ‘Trade, location of economic activity and the multinational enterprise: a search for and eclectic approach’, Chapter 12 in B. Ohlin, P.-O. Hesselborn and P.M. Wijkman, (eds), The International Allocation of Economic Activity (London: Macmillan),
reprinted and revised as Chapter 2 in J.H. Dunning, International Production and the Multinational Enterprise (London: Allen & Unwin (1981), and as Chapter 1 in J.H. Dunning, Explaining International Production (London: Unwin Hyman, 1988).
Dunning, J.H. (1993) Multinational Enterprises and the Global Economy (Wokingham: Addison-Wesley).
Dunning, J.H. and Robson, P. (1988) ‘Multinational corporate integration and regional economic integration’, in J.H. Dunning and P. Robson, (eds), Multinationals and the European Community (Oxford: Blackwell), pp. 1–23.
Euros tat (1994)
Evans, P. and Walsh, J. (1994) ‘The EUI guide to the new GATT’ (London: Economist Intelligence Unit).
Flowers, E.B. (1976) ‘Oligopolistic reactions in European and Canadian direct investment in the United States’, Journal of International Business Studies, 7 (2), pp. 43–55.
GATT (1980) The Tokyo Round of Multilateral Trade Negotiations, Volume 2, Supplementary Report (Geneva: GATT), p. 37.
Gilman, M.G. (1981) The Financing of Foreign Direct Investment: A Study of the Determinants of Capital Flows in Multinational Enterprises (London: Frances Pinter).
Goldberg, M.A. (1972) ‘The determinants of US direct investment in the EEU: comment’, American Economic Review, 62 (4), pp. 692–9.
Graham, E.M. (1974) ‘Oligopolistic imitation and European direct investment in the United States’, Harvard Graduate School of Business, unpublished DBA dissertation.
Graham, E.M. (1978) ‘Transnational investment by multinational firms: a rivalistic phenomenon’, Journal of Post Keynesian Economics, 1 (1), pp. 82–99.
Grubel, H.G. (1982) ‘The theory of international capital movements’, Chapter 1 in J. Black and J.H. Dunning, (eds), International Capital Movements (London: Macmillan).
Hine, R.C. (1985) The Political Economy of European Trade: An introduction to the Trade Policies of the EEU (Brighton: Wheatsheaf).
Hymer, S. (1960) ‘The international operations of national firms: a study of direct foreign investment’, PhD. Thesis; (Cambridge, MASS: MIT Press, 1976).
Knickerbocker, F.T. (1973) Oligopolistic Reaction and the Multinational Enterprise (Boston: Harvard University Press).
KPMG Peat Marwick (1989) EU 1992: Strategic Implications for American Business (London: KPMG Peat Marwick) (June).
Lunn, J. (1980) ‘Determinants of US direct investment in the EEU: further evidence’, European Economic Review, 13 (1), pp. 93–101.
Lunn, J. (1983) ‘Determinants of US direct investment in the EEU: revisited again’, European Economic Review, 21 (3), pp. 391–3.
Mayes, D.G. (1985) ‘Factor mobililty’, in A.M. El-Agraa (ed.), The Economics of the European Community (London: Macmillan).
Milner, C. and Allen, D. (1992) ‘The external implications of 1992’, in D. Swann, (ed), The Single European Market and Beyond: A Study of the Wider Implications of the Single European Act (London: Routledge).
Mundell, R.A. (1957) ‘International trade and factor mobility’, American Economic Review, 47 (3), pp. 321–35.
Ray, E.J. (1989) ‘The determinants of foreign direct investment in the United States: 1979–1985’, in R. Feenstra, (ed.), Trade Policies for International Competitiveness (Chicago: University of Chicago Press).
Scaperlanda. A.E. (1967) ‘The EEU and US foreign investment: some empirical evidence’, Economic Journal (March), pp. 22–6.
Scaperlanda. A.E. (1968) ‘The EEU and US foreign investment: some empirical evidence — a reply’, Economic Journal (September), pp. 558–68.
Scaperlanda, A.E. and Balough, R.S. (1983) ‘Determinants of US direct investment in the EEU: revisited’, European Economic Review, 21 (3), pp. 381–90.
Scaperlanda, A.E. and Mauer, L.J. (1969) ‘The determinants of US direct foreign investment in the EEU’, American Economic Review, 59 (3), pp. 558–68.
Scaperlanda, A.E. and Mauer, L.J. (1972) ‘The determinants of US direct investment in the EEU: reply’, American Economic Review, 62 (4), pp. 700–4.
Scaperlanda, A.E. and Mauer, L.J. (1973) ‘The impact of controls on United States direct foreign investment in the European Economic Community’, Southern Economic Journal, 39, pp. 419–23.
Stevens, G.V.G. (1977) ‘Comment’, in P.B. Clark, D.E. Logue and R.J. Sweeney (eds), The Effects of Exchange Rate Adjustments (Washington, DC: US Government Printing Office), pp. 183–8.
Stevens, G.V.G. (1993) ‘Exchange rates and foreign direct investment: a note’, International Finance Discussion Papers, 444 (April) (Washington, DC: Board of Governors of the Federal Reserve System).
Swedenborg, B. (1979) The Multinational Operations of Swedish Firms: An Analysis of Determinants and Effects (Stockholm: Almqvist & Wicksell).
United Nations Centre on Transnational Corporations (UNCTC) (1990) ‘Regional economic integration and transnational corporations in the 1990s: Europe 1992, North America, and developing countries’, UNCTC Current Studies, Series A, 15 (New York: UN).
United Nations Transnational Corporations and Management Division (UN-TCMD) (1993) ‘From the Common Market to EU 92: regional economic integration in the European Community and transnational corporations’, Department of Economic and Social Development (New York: UN).
US Department of Commerce (various issues) Survey of Current Business (Washington: DC).
Wallis, K.F. (1968) ‘The EEU and US foreign investment: some empirical evidence re-examined’, Economic Journal (September) , pp. 717–19.
World Bank (1987) World Development Report, 1987 (Oxford: Oxford University Press).
Editor information
Editors and Affiliations
Copyright information
© 1996 Academy of International Business UK Chapter
About this chapter
Cite this chapter
Clegg, J. (1996). US Foreign Direct Investment in the EU — The Effects of Market Integration in Perspective. In: Burton, F., Yamin, M., Young, S. (eds) International Business and Europe in Transition. The Academy of International Business Series. Palgrave, London. https://doi.org/10.1007/978-1-349-24556-7_10
Download citation
DOI: https://doi.org/10.1007/978-1-349-24556-7_10
Publisher Name: Palgrave, London
Print ISBN: 978-1-349-24558-1
Online ISBN: 978-1-349-24556-7
eBook Packages: Palgrave Business & Management CollectionBusiness and Management (R0)