The multinationals’ economic penetration, growth, industrial output, and domestic savings in developing countries: Another look

References

• Areskoug , K. 1976 . ‘Private Foreign Investment and Capital Formation in Developing Countries’ . Economic Development and Cultural Change , 24 ( 3 ) April : 539 – 47 .
   Web of Science ®Google Scholar
• Bacha , E.L. 1974 . ‘Foreign Capital Inflow and the Output Growth Rate of the Recipient Country’ . Journal of Development Studies , 10 ( 3 and 4 ) : 374 – 81 .
   Web of Science ®Google Scholar
• Balough , T. and Streeten , P.P. 1960 . ‘Domestic Versus Foreign Investment’ . Bulletin of the Oxford University Institute of Statistics , : 213 – 24 .
   Google Scholar
• Belsley , D.A. , Kuh , E. and Welch , R.E. 1980 . Regression Diagnostics , New York : John Wiley .
   Google Scholar
• Biersteker , T.J. 1978 . Distortion or Development: Contending Perspectives on the Multinational Corporation , Cambridge, MA : MIT Press .
   Google Scholar
• Bornschier , V. 1978 . Multinational Corporations in the World Economy and National Development , Bulletin No. 32 Zurich : Soziologisches Institut der Universitat .
   Google Scholar
• Bornschier , V. 1980 . ‘Multinational Corporations and Economic Growth: A Cross‐Sectional Test of the Decapitalization Thesis’ . Journal of Development Economics , 7 ( 2 ) : 191 – 210 .
   Web of Science ®Google Scholar
• Caves , R. 1982 . Multinational Enterprise and Economic Analysis , Cambridge, New York : Cambridge University Press .
   Google Scholar
• Chase‐Dunn , C . 1975 . ‘The Effects of International Economic Dependence on Development and Inequality: A Cross‐National Study’ . American Sociological Review , 40 ( 6 ) Dec. : 720 – 38 .
   Web of Science ®Google Scholar
• Chenery , B.B. and Strout , A.M. 1966 . ‘Foreign Assistance and Economic Development’ . American Economic Review , 56 ( 4 ) Sept. : 679 – 733 .
   Web of Science ®Google Scholar
• Griffin , K.B. , ed. 1971 . “ ‘The Role of Foreign Capital’ ” . In Financing Development in Latin America , London : Macmillan .
   Google Scholar
• Hufbauer , G.C. 1975 . “ ‘The Multinational Corporation and Direct Investment’ ” . In International Trade and Finance: Frontiers for Research , Edited by: Kenen , P.B. London : Cambridge University Press .
   Google Scholar
• Kmenta , J. 1971 . Element of Econometrics , New York : Macmillan .
   Google Scholar
• Kobrin , S.J. 1977 . Foreign Direct Investment, Industrialization and Social Change, Contemporary Studies in Economic and Financial Analysis , Greenwich, CT : JAI Press . No. 9
   Google Scholar
• Lall , S. and Streeten , P. 1977 . Foreign Investment, Transnationals and Developing Countries , London : Macmillan .
   Google Scholar
• Madison , A. 1970 . Economic Progress and Policy in Developing Countries , London : Allen & Unwin .
   Google Scholar
• Meyer‐Fehr , Peter . 1978 . ‘Bestimmungsfaktoren des Wirtschaftswachstums von Nationen’ . Bulletin des Soziologisches Institut der Universität Zurich , Dec. : 1 – 105 .
   Google Scholar
• Mosley , P. 1980 . ‘Aid, Savings and Growth Revisited’ . Oxford Bulletin of Economics and Statistics , 6 ( 4 ) May : 628 – 41 .
   Google Scholar
• Nankani , G.T. 1979 . The Intercountry Distribution of Direct Foreign Investment in Manufacturing , New York : Garland .
   Google Scholar
• Organisation for Economic Cooperation and Development (OECD) . 1983a . Aid from OPEC countries Paris
   Google Scholar
• Organisation for Economic Cooperation and Development (OECD) . 1979–83b . Development Co‐operation Reviews Paris
   Google Scholar
• Organisation for Economic Cooperation and Development (OECD) . 1983c . Investing in Developing Countries , Paris : OECD .
   Google Scholar
• Papanek , G.F. and Jan./Feb. 1973 . ‘Aid, Foreign Private Investment, Savings, and Growth in Less Developed Countries’ . Journal of Political Economy , 81 ( 1 ) : 120 – 30 .
   Web of Science ®Google Scholar
• Rahman , Md. A. 1968 . ‘Foreign Capital and Domestic Savings: A Test of Haavelmo's hypothesis with Cross‐Country Data’ . Review of Economics and Statistics , 50 ( 1 )
   Web of Science ®Google Scholar
• Reuber , G.L. , Crookel , H. , Emerson , M. and Gallais‐Hamonno , G. 1973 . Private Foreign Investment in Development , Oxford : Clarendon Press .
   Google Scholar
• Singh , R.D. 1985 . ‘State Intervention, Foreign Economic Aid, Savings and Growth in LDCs: Some Recent Evidence’ . KYKLOS , 38 : 216 – 32 . Fasc 2
   Web of Science ®Google Scholar
• Soziologisches Institut der Universitat Zurich . March 1979 . Compendium of Data for World‐System Analysis , March , Bulletin . Special Issue
   Google Scholar
• Stoneman , C . 1975 . ‘Foreign Capital and Economic Growth’ . World Development , 3 ( 1 ) : 11 – 26 .
   Google Scholar
• United Nations . 1977a . Compendium of Social Statistics , New York : United Nations Annual Report .
   Google Scholar
• United Nations . 1980b . Energy Statistics Year Book , New York : United Nations Annual Report .
   Google Scholar
• United Nations . 1982c . Energy Statistics Year Book , New York : United Nations Annual Report .
   Google Scholar
• Vaupel , J.W. and Curhan , J.P. 1973 . The World's Multinational Enterprises , Boston, MA : Harvard University Press .
   Google Scholar
• Vemon , R. 1966a . ‘Foreign‐owned Enterprises in Developing Countries’ . Public Policy , XV : 361 – 80 .
   Google Scholar
• Vemon , R. 1968b . ‘Conflict and Resolution between Foreign Direct Investors and Less‐Developed Countries’ . Public Policy , XVII : 333 – 51 .
   Google Scholar
• Vernon , R. 1972c . The Economic and Political Consequences of Multinational Enterprise: An Anthology , Boston, MA : Harvard University Press .
   Google Scholar
• Vemon , R. 1977d . Storm over the Multinationals: The Real Issues , Cambridge, MA : Harvard University Press .
   Google Scholar
• Street , Wall . 1983 . “ ‘Foreign Investment Playing Bigger Role in Poor Countries’ (Staff Reporter: Michael R. Sesit, 2 March) ” .
   Google Scholar
• World Bank . 1981–83a . World Development Reports , New York : Oxford University Press/World Bank .
   Google Scholar
• World Bank . 1980b . World Tables , New York : Oxford University Press/World Bank .
   Google Scholar
• Weisskopf , T.E. 1972 . “The Impact of Foreign Capital Inflow on Domestic Savings in Underdeveloped Countries’ . Journal of International Economics , 2 ( 1 ) Feb. : 25 – 38 .
   Web of Science ®Google Scholar
• Professor of Economics, Illinois State University, Normal, Illinois 61761, USA. The author wishes to thank Professor Mathew Morey for his valuable assistance in conducting the econometric analysis. Professor Russel Rutter (English Department, technical writing) for his comments on the write‐up of the manuscript, and Andy Li and Marty Dwyer for their job of data processing and computer programming. The author is also grateful to the anonymous referee and the editor for their very thoughtful and constructive comments and suggestions which helped in revising the manuscript. However, for any error, the author alone is responsible.
   Google Scholar