From Triad to Dispersion: The (Almost) Irresistible Rise of Foreign Direct Investment in New Countries

Köz-Gazdaság, vol. 11, No 3 (October 2016), pp. 171-186

16 Pages Posted: 6 Oct 2016

See all articles by Kalman Kalotay

Kalman Kalotay

United Nations Conference on Trade and Development (UNCTAD); UNCTAD

Date Written: October 5, 2016

Abstract

Foreign direct investment (FDI) is far from being a new phenomenon; its spectacular rise and dispersion are. Back in the 1970s and 1980s, there were researchers who already noted the presence of multinational enterprises (MNEs) and the need for economic theory to explain their activities (for example [Dunning 1977] and [Vernon, 1971]). In Hungary, András Blahó ([1980]) was among the first ones to note their importance in the world economy in general and in the organization of international production in particular. He built his observations in part on the findings of other Hungarian economists observing the MNE phenomenon since the early 1960s (for example Mihály Simai [1962]). It is therefore no coincidence that Hungary became, after the political change of 1989–1990 and its early on opening to FDI (see for example [Sass 2004]), one of the main regional centres of research on FDI.

Keywords: foreign direct investment, multinational enterprises, emerging markets, Hungary

JEL Classification: F21, F23

Suggested Citation

Kalotay, Kalman, From Triad to Dispersion: The (Almost) Irresistible Rise of Foreign Direct Investment in New Countries (October 5, 2016). Köz-Gazdaság, vol. 11, No 3 (October 2016), pp. 171-186 . Available at SSRN: https://ssrn.com/abstract=2848305

Kalman Kalotay (Contact Author)

United Nations Conference on Trade and Development (UNCTAD) ( email )

Division on Investment, Technology and Enterprise
Palais des Nations
Geneva, 1211
Switzerland

UNCTAD ( email )

Division on Investment, Technology and Enterprise
Palais des Nations
Geneva, 1211
Switzerland

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