Hostname: page-component-cd9895bd7-8ctnn Total loading time: 0 Render date: 2024-12-23T12:45:21.310Z Has data issue: false hasContentIssue false
  • English
  • Français

Foreign Direct Investment and transition

Published online by Cambridge University Press:  28 July 2009

Lawrence P. King
Lawrence P. King
Affiliation:
University of Yale, (New Haven).
Get access

Abstract

This article examines the debate on the developmental impact of foreign direct investment (FDI). While the most frequent finding within sociology is that FDI is harmful or at least less beneficial than domestic investment, most who study the transition from socialism or make economic policy in the region consider FDI to be a major motor of development. This paper examines the impact of FDI with a novel methodology. Rather than employing the standard analytic strategy that uses state-level macroeconomic data in a crossnational comparison, this article direcdy compares the performance of foreign owned firms to domestically owned firms. In the analysis six hypotheses derived from this debate on the role of FDI are tested with logistic regression on two large random sample surveys of Hungarian firms The findings support the position that foreign direct investment is beneficial for the recipient country. In addition, they support the idea that foreign owned firms are more beneficial than domestically owned firms.

Le rôle des investissements étrangers directs (IED) sur le développement économique fait l'objet d'un débat majeur pour quiconque s'intéresse à la transition du socialisme au capitalisme. Si la plupart des sociologues soulignent que les IED sont nuisibles ou en tout cas moins rentables que les investissements nationaux, les analystes de la transition et les décideurs en matière de politique économique sont d'un tout autre avis et considèrent les IED comme un moteur essentiel du developpement.La méthode utilisée ici differe des approches tranditionnelles qui utilisent des données macro-économiques nationales à des fins comparatives: l'auteur va comparer les performances d'entreprises dans lesquelles les capitaux étrangers sont majoritaires avec celles d'entreprises aux mains de capitaux nationaux. Six hypotheses concernant le rôle des IED sont testées à l'aide de régression logistique sur deux gros échantillons d'entreprises hongroises. Les résultats montrent que l'invesdssement étranger direct est favorable au développement du pays concerné. De plus, ils indiquent que les firmes étrangères dégagent plus de profit que les entreprises nationales.

Die direkten ausländischen Investitionen (DAI) haben eine Debatte hervorgerufen, die all diejenigen anspricht, die sich für den Übergang vom Sozialismus zum Kapitalismus interessieren. Im Rahmen der Soziologie geht man davon aus, dass DAI gefährlicher oder zumindest weniger rentable als inländische Investitionen sind. Diejenigen, die jedoch den Übergang vom Sozialismus analysieren oder die Wirtschaftspolitik machen, betrachten DAI als entscheidenden Entwicklungsfaktor. Dieser Aufsatz untersucht den Einfluss von DAI anhand einer neuen Methodik. Anstatt die herkömmliche analytische Strategic zu verwenden, die volkswirtschaftliche Daten in einen landesweiten Vergleich einbezieht, werden hier die Entwicklungen der Firmen mit mehrheitlich ausländischem Kapital denen mit inländischem Kapital gegenübergestellt. Dieses Verfahren verhindert auch eine Verzerrung, die ein landesweiter Vergleich in postkommunistischen Staaten mit sich bringen würde, sowie eine wirtschafdiche Schwäche, die auf inländische Statistiken zurückzuführen wäre. Sechs Hypothesen bezüglich der Rolle der DAI werden anhand der logistischen Regression zweier Gruppen ungarischer Unternehmen getestet. Die Ergebnisse zeigen, dass die DAI sich im Empfüngerland positiv auswirken. Darüber hinaus wird deutlich, dass die auslündischen Firmen mehr Profit erwirtschaften als die inlündischen Unternehmen.

Type
Scale and time in sociological explanation
Information
European Journal of Sociology / Archives Européennes de Sociologie , Volume 41 , Issue 2 , November 2000 , pp. 227 - 258
Copyright
Copyright © Archives Européenes de Sociology 2000

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

REFERENCES

Andor, Lazlo and Summers, Martin, 1998, Market Failure: Eastern Europe's ‘Economic Miracle’ (London: Pluto Press).Google Scholar
Aslund, Anders, 1995, How Russia Became Market Economy (Washington: The Brookings Institution).Google Scholar
Bailey, David, 1995, Transnationals and the transition: the role of foreign direct investment in Hungary's economic transformation, Occasional Papers in Industrial Strategy, no. 32 (University of Birmingham: Research Center for Industrial Strategy).Google Scholar
Bailey, David, Sugden, Roger and Thomas, Rachael, 1998, Inward investment in Central and Eastern Europe, in Storper, Michael, Thomadakis, Stavros B. and Tsipouri, Lena J. (eds), Latecomers in the Global Economy (London: Routledge), 299–322.Google Scholar
Bakos, Gabor, 1995, Hungary's Road to Privatization, in Zloch-Christy, Iliana (ed.), Privatization and foreign investment in Eastern (Westport Connecticut: Praeger Publishers).Google Scholar
Blanchard, Olivier, Boycko, Maxim, Dabrowski, Marek, Dornbusch, Rudiger, Layard, Richard and Schleifer, Andrei, 1993, Post-Communist Reform: Pain and Progress (Cambridge, MA, London [England]: The MIT Press).Google Scholar
Boardman, A.E. and Vining, A.R., 1989, Ownership and Performance in Competitive Environments: A Comparison of the Performance of Private, Mixed, and State-Owned Enterprises, Journal of Law and Economics 32, 1–33.CrossRefGoogle Scholar
Bogetic, Zeljko, 1993, The Role of Employee Ownership in Privatization and State Enterprises in Eastern and Central Europe, Europe-Asia Studies, Vol.45, no.3, 463–481.CrossRefGoogle Scholar
Booth, Simon, 1994, Foreign Direct Investment in Eastern and Central Europe: trends, effects and institutional problems (Working Paper, University of Reading, Department of Economics).Google Scholar
Bornschier, Volker, 1980, Multinational Corporations and Economic Growth: A Cross-National Test of the Decapitalization Thesis, Journal of Development Economics 7, 191–210.CrossRefGoogle Scholar
Bornschier, Volker, 1980, Multinational Corporations, Economic Policy and National Development in the World System, International Social Science Journal, Vol. 32. no. 1, 158–172.Google Scholar
Bornschier, Volker, Chasedunn, Chistopher and Rubinson, Richard, 1978, Cross National Evidence of the Effects of Foreign Investment and Aid on Economic Growth and Inequality: A Survey of Finds and a Reanalysis, American Journal of Sociology 84, 651–684.CrossRefGoogle Scholar
Bornschier, Volker and Chasedunn, Chistopher, 1985, Transnational Corporations and Underdevelopment (New York: Praeger).Google Scholar
Boswell, Terry and Dixon, William J., 1990, Dependency and Rebellion: A Cross National Analysis, American Sociological Review 55, 540–559.CrossRefGoogle Scholar
Boubakri, Narjess and Cosset, Jean-Claude, 1997, The Financial and Operating Performance of Newly Privatized Firms: Evidence from Developing Countries (Université Laval), mimeo.Google Scholar
Brada, Joszef C., 1998, Management 101: behaviour of firms in transition economies, William Davidson Institute Working Paper no 133.Google Scholar
Bradshaw, York W., Kim, Young Jeong and London, Bruce, 1993, Transnational economic linkages, the state and dependent development in South Korea, 1966–1988: a time-series analysis, Social Forces, 72 12, 315–345.Google Scholar
Brenner, Robert, 1986, The Social Basis of Economic Growth, in Write, E.O. and Elster, Jon (eds), Analytical Marxism (Madison: University of Wisconsin Press).Google Scholar
Brenner, Robert, 1998, Uneven Development and the Long Downturn: The Advanced Capitalist Economies from Boom to Stagnation, 1950–1998, New Left Review 229, 1–261.Google Scholar
Cantwell, J., 1994, The Internationalization of business and economic development of Poland and Eastern Europe, University of Reading Discussion Papers in International Investment and Business Studies, no. 180 (Reading).Google Scholar
Chase-Dunn, Christopher, 1975, The Effects of International Economic Dependence on Development and Inequality: A Cross-National Study, American Sociological Review, Vol. 40, no. 6. (12), 720–738.CrossRefGoogle Scholar
Chen, Chung, Chang, Lawrence and Zhang, Yimin, 1995, The role of foreign direct investment in China's post-1978 economic development, World Development, 23 04, 691–703.CrossRefGoogle Scholar
Claessens, Stijn, Djankov, Simeon and Pohl, Gerhard, 1999, Ownership Structure and Corporate Performance: Evidence from the Czech Republic (World Bank), mimeo.Google Scholar
Csaki, Gyorgy, 1995, Foreign Direct Investment in Hungary, in Zloch-Christy, Iliana (ed.), Privatization and Foreign Investment in Eastern Europe (Westport, CT: Praeger Publishers).Google Scholar
De Soysa, Indra and Oneal, Jorn R., 1999, Boon or Bane? Reassessing the productivity of foreign direct investment, American Sociological Review, 64, 766–782.CrossRefGoogle Scholar
Dixon, William J. and Boswell, Terry, 1996, Dependency, Disarticulation, and Denominator Effects: Another Look at Foreign Capital Penetration, American Journal of Sociology, Vol. 102, no. 2 (09), 543–562.CrossRefGoogle Scholar
Dobosiewicz, Zbigniew, 1992, Foreign Investment in Eastern Europe (New York: Routledge).Google Scholar
Dolan, Michael B. & Tomlin, Brian W., 1980, First World-Third World Linkages: External Relations and Economic Development, International Organization, Vol. 34, no.1 (Winter, 1980), 41–63.CrossRefGoogle Scholar
Dunning, John H., 1993, The Prospects for Foreign Direct Investment in Eastern Europe, in Artisen, Patrick, Rojec, Matija and Svetlicic, Marjan (eds), Foreign Investment in Central and Eastern Europe (New York: St. Martin's Press, Inc).Google Scholar
Dunning, John H., 1994, Globalization, economic restructuring and development, University of Reading Discussion Papers in International Investment and Business Studies, no. 187 (Reading).Google Scholar
Dutt, Amitava Krishna, 1997, The Pattern of Direct Foreign Investment and Economic Growth, World Development, Vol. 25, no. 11, 1925–1936.CrossRefGoogle Scholar
Earl, John S., Frydman, Roman, Rapaczynski, Andrzej (eds), 1993, Privatization in the Transition to a Market Economy: Studies of Preconditions and Policies in Eastern Europe (New York: St. Martin's Press).Google Scholar
Ellerman, David P. (ed.), 1993, Management and Employee Buy-Outs as a Technique of Privatization (Ljubljana: Central and Eastern European Privatization Network Countries), American Sociological Review 45, 531–551.Google Scholar
Ellingstad, Marc, 1997, The Maquiladora Syndrome: Central European Prospects, Europe-Asia Studies, Vol. 49, no. 1, 7–21.CrossRefGoogle Scholar
Ettlie, J.E., 1993, Issues and analyses: the emergence of manufacturing in Hungary, Production, 08, 34.Google Scholar
European Bank for Reconstruction and Development, 1996, Transition Report (London: EBRD).Google Scholar
Ettlie, J.E., 1998, Transition Report (London: EBRD).Google Scholar
Evans, Peter, 1979, Dependent Development (Princeton: Princeton University Press).CrossRefGoogle Scholar
Evans, Peter B. and Timberlake, Michael, 1980, Dependence, Inequality, and the Growth of the Tertiary: A Comparative Analysis of Less Developed Countries, American Sociological Review, Vol. 45, no. 4 (08), 531–552.CrossRefGoogle Scholar
Faur, Tivadar, 1993, Foreign Capital in Hungary's privatization, in Earl, John S., Frydman, Roman, Rapaczynski, Andrzej (eds), Privatization in the Transition to a Market Economy: Studies of Preconditions and Policies in Eastern Europe (New York: St. Martin's Press).Google Scholar
Firebaugh, Glenn, 1992, Growth Effects of Foreign and Domestic Investment, American Journal of Sociology 8, 105–130.CrossRefGoogle Scholar
Firebaugh, Glenn, 1996, Does Foreign Capital Harm Poor Nations? New Estimates Based on Dixon and Boswell's Measures of Capital Penetration, American Journal of Sociology Volume 102, no.2 (09 1996), 563–575.CrossRefGoogle Scholar
Fischer, Stanley and Gelb, Alan, 1991, The Process of Socialist Economic Transformation, Journal of Economic perspectives 4, 91–106.CrossRefGoogle Scholar
Frank, Andre Gunther, 1967, Capitalism and Underdevelopment in Latin America (New York: Monthly Review Press).Google Scholar
Frydman, Roman and Rapaczynski, Andrzej, 1994, Privatization in Eastern Europe: Is The State Withering Away? (Budapest: Central European University).Google Scholar
Frydman, Roman, Gray, Cheryl, Hessel, Marek, Rapaczynski, Andrzej, 1997, Private Ownership and Corporate Performance: Some Lessons From Transition Economies (World Bank), ms.Google Scholar
Galtung, Johan, 1971, A Structural Theory of Imperialism, Journal of Peace Research 8, 81–117.CrossRefGoogle Scholar
Gowan, Peter, 1999, The Theory and Practice of Neo-Liberalism for Eastern Europe, The Global Gamble (New York: Verso), 187–247.Google Scholar
Hamar, J., 1994, Foreign Direct Investment and Privatization in Hungary, Ada Oeconomica Vol. 46 (1–2), 189–212.Google Scholar
Hanley, Eric, King, Lawrence and Tóth, István János, 2000, Coercive Isomorphism and Institutional Convergence in the Transition from Socialism to Capitalism: A Refutation of the Recombinant Property Thesis, mimeo.Google Scholar
Hannan, Michael T. and Freeman, John, 1989, Organizational Ecology (Cambridge, MA: Harvard University Press).CrossRefGoogle Scholar
Hein, Simeon, 1992, Trade Strategy and the Dependent Hypothesis: A Comparison of Policy, Foreign Investment, and Economic Growth in Latin America and East Asia, Economic Development and Cultural Change Vol. 40, no.3 (04), 495–521.CrossRefGoogle Scholar
Hirschman, Albert O., 1958, The Strategy of Economic Development (New Haven: Yale University Press).Google Scholar
Hlavacek, Jen, 1998, Foreign Direct Investment and Economic Sectors: Their Influence on Basic Needs Provision in the Less Developed Countries, Dissertation-Abstracts-International, Vol. 58, no.7 (01).Google Scholar
Inzelt, A., 1994, Privatization and innovation in Hungary: first experiences, Economic Systems 18, p. 2.Google Scholar
Jackman, Robert W., 1982, Dependence on Foreign Investment and Economic Growth in the Third World, World Politics, Vol. 34, no. 2 (01), 175–196.CrossRefGoogle Scholar
Jaffee, David and Stokes, Randall, 1986, Foreign Investment and Trade Dependence, Sociological Quarterly Vol. 27, no. 4 (12), 533–546.CrossRefGoogle Scholar
Jansen, Karel, 1995, The Macroeconomic Effects of Direct Foreign Investment: The Case of Thailand, World Development Vol. 23, no. 2, 02, 193–210.CrossRefGoogle Scholar
Jolly, A., 1994, Business development in Eastern Europe, Eastern European and the Commonwealth of Independent States (London: Europa).Google Scholar
Karsai, Judith and Write, Mike, 1994, Accountability, Governance and Finance in Hungarian Buy-Outs, Europe-Asia Studies, Vol. 46, no.6, 997–1016.CrossRefGoogle Scholar
Kentor, Jeffrey, 1998, The Long-Term Effects of Foreign Investment Dependence on Economic Growth, 1940–1990, American Journal of Sociology, Vol. 103, no.4 (01), 1024–1046.CrossRefGoogle Scholar
Khan, Haider, 1997, The Impact of Foreign Direct Investment on Regional and Human Development in Transitional Economies, Regional-Development-Dialogue, Spring Vol. 18, no. 1, 1–14.Google Scholar
King, Lawrence, 1996, The Managerialization of the Hungarian and Czech Economies: Strategies of Transition to East European Capitalism, in Matzner, Egon (ed.), Lessons From Transformation (Vienna: Federal Ministry of Science, Research and Arts), 77–104.Google Scholar
King, Lawrence, 1997, Strategic Restructuring: Making Capitalism in Post-Communist Eastern Europe, Working Paper no. 190 (The William Davidson Institute at The University of Michigan Business School).Google Scholar
King, Lawrence, forthcoming, The Basic Features of Postcommunist Capitalism: Firms in Hungary, the Czech Republic and Slovakia (Westport CT: Praeger Press).Google Scholar
King, Lawrence and Váradi, Balasz, 2000, Beyond Manichean Economics: Foreign Direct Investment in the Transition from Socialism to Capitalism. Mimeo.Google Scholar
Kornai, Janos, 1980, Economics of Shortage (Amsterdam, New York, Oxford: North Holland Publishing Company).Google Scholar
Kõtösi, Gábor, 1998, Labor Demand During Transition in Hungary, Working Paper no. 115 (The William Davidson Institute, University of Michigan Business School).Google Scholar
Kozminski, Andrzej K., 1993, Catching Up?: Organizational and management change in the ex-socialist block (Albany: State University of New York Press).Google Scholar
Landsburg, Martin, 1979, Export-Led Industrialization in the Third World: Manufacturing Imperialism, Review of Radical Political Economics 11, 50–63.CrossRefGoogle Scholar
LaPorta, Rafael and Lopez-de-Silanes, Florencio, 1997, The Benefits of Privatization: Evidence from Mexico (Harvard University), mimeo.Google Scholar
Lazarsfeld, Paul, 1966, Concept Formation and Measurement, in DiRenzo, Gordon J. (ed.), Concepts, Theory, and Explanation in the Behavioral Sciences (New York: Random House).Google Scholar
Lipton, David and Sachs, Jeffrey D., 1990, Creating a Market Economy in Eastern Europe: The Case of Poland, Brookings Paper on Economic Activity 1.CrossRefGoogle Scholar
Lízal, Lubomír and Svejnar, Jan, 1997, Enterprise Investment During the Transition: Evidence from Czech Panel Data, Working Paper no. 60a (The William Davidson Institute, University of Michigan Business School).Google Scholar
Mann, Catherine L., 1991, Industry Restructuring in East-Central Europe: The Challenge and the Role for Foreign Investment, The American Economic Review 81 (05), 181–184.Google Scholar
Marsh, Robert M., 1988, Sociological Explanations of Economic Growth, Studies in Comparative International Development, Vol. 23, no. 4, Winter, 41–76.CrossRefGoogle Scholar
Marton, K., 1993, Foreign Direct Investment in Hungary, Transnational Corporations 2, 1, 111–134.Google Scholar
Matzner, Egon, 1996, Market Making and Market Destruction,Paper prepared for the 3rd Agenda Workshop on Lessons from Transformation(Vienna).Google Scholar
Mejstrik, Michal, 1995, Economic Transformation, Privatization, and Foreign Investment in the Czech Republic, in ZlochChristy, Iliana (ed.), Privatization and Foreign Investment in Eastern Europe (Westport, CT: Praeger Publishers).Google Scholar
Mertlík, Pavel, 1996, The Czech Republic, in Widmaier, Brigitta and Potratz, Wolfgang (eds), The Future of Industry in Central and Eastern Europe (Gelsenkirchen: Institut Arbeit und Technik).Google Scholar
Mitchell, Janet, 1998, Bankruptcy Experience in Hungary and the Czech Republic, Working Paper no. 211 (The William Davidson Institute at the University of Michigan Business School).Google Scholar
Nelson, Richard R. and Winter, Sidney G., 1982, An Evolutionary Theory of Economic Change (Cambridge, MA: Harvard University Press).Google Scholar
Ofer, Ahron and Siegel, Daniel, 1987, Corporate Financial Policy, Information, and Market Expectations: An Empirical Investigation of Dividends, Journal of Finance, Vol. 42, no. 4 (09), 889–911.CrossRefGoogle Scholar
Okolicsanyi, K., 1993, Hungary's foreign trade in transition, RFE/RL Research Report 2, 29, 32–36.Google Scholar
Pohl, Gerhard, Anderson, Robert, Claessens, Stijn and Djankov, Simeon, 1997, Privatization and Restructuring in Central and Eastern Europe: Evidence and Policy Option, World Bank Technical Paper No. 368 (Washington D.C.: The World Bank).Google Scholar
Radice, H., 1993, Global integration, national disintegration? Foreign capital in the reconstitution of capitalism in Central and Eastern Europe, School of Business and Economic Studies Discussion Paper (University of Leeds).Google Scholar
Robinson, William S., 1950, Ecological correlation and behavior of individuals, American Sociological Review 15, 351–357.CrossRefGoogle Scholar
Sachs, Jeffrey, 1991, The Economic Transformation of Eastern Europe: The Case of Poland (The Frank E. Seidman Distinguished Award in Political Economy. Acceptance paper by Jeffrey Sachs) (Memphis, TN: P.K. Seidman Foundation).Google Scholar
Sachs, Jeffrey, 1993, Poland's Jump to a Market Economy (Cambridge, Mass).CrossRefGoogle Scholar
Sachs, Jeffrey, 1995, Consolidating Capitalism, Foreign Policy, no. 98.CrossRefGoogle Scholar
Sachs, Jeffrey and Lipton, David, 1990, Poland's Economic Reform, Foreign Affairs, Summer, 47–66.CrossRefGoogle Scholar
Schleifer, Andrei and Robert, Vishny, 1994, Politicians and Firms, Quarterly Journal of Economics, 46, 995–1025.CrossRefGoogle Scholar
Sharma, Basu, 1986, Foreign Capital and Economic Growth of Developing Countries: Debt vs. Equity, Studies in Comparative International Development Vol. 21, no. 1, Spring, 60–70.CrossRefGoogle Scholar
Spenner, Kenneth I., Suhomlinova, Olga O., Thore, Sten, Land, Kenneth and Jones, Derek, 1998, Strong Legacies and Weak Markets: Bulgarian State-Owned Enterprises during Early Transition, American Sociological Journal, 08 Vol. 63, no. 4, 599–617.CrossRefGoogle Scholar
Stark, David, 1989, Coexisting Organizational Forms in Hungary's Emerging Mixed Economy, in Nee, Victor and Stark, David (eds), Remaking the Economic Institutions of Socialism: China and Europe (Stanford: Stanford University Press), 137–168.Google Scholar
Stark, David, 1992, Path Dependency and Privatization Strategies in East-Central Europe, East European Politics and Societies, Vol. 6, no. 1.Google Scholar
Stark, David, 1996, Recombinant Property in Eastern European Capitalism, American Journal of Sociology Vol. 101, no.5, 993–1027.CrossRefGoogle Scholar
Stark, David and Bruszt, Laszlo, 1995, Inter-Enterprise Ownership Networks in the Postsocialist Transformation.Paper presented at the American Sociological Association annual meeting,May.Google Scholar
Stijn, Claessens and Djankov, Simeon, 1999, Ownership concentration and corporate performance in the Czech Republic, William Davidson Institute Working Paper no 227.CrossRefGoogle Scholar
Stinchcombe, Arthur L., 1965, Social Structure and Organizations, in March, J.G. (ed.), Handbook of Organizations (Chicago: Rand McNally), 142–193.Google Scholar
Storper, Michael, 1998, Industrial policy for latecommers: products, conventions, and learning, in Storper, Michael, Thomadakis, Stavros and Tsipouri, Lena (eds), Late comers in the Global Economy (London: Routledge).Google Scholar
Streetn, P.P., 1973, The Multinational Enterprise and the Theory of Development Policy, World Development 1 (10), 1–14.CrossRefGoogle Scholar
Svetlicic, Marjan, Artisien, Patrick and Rojec, Matija, 1993, Foreign Direct Investment in Central and Eastern Europe: An Overview, in Artisen, Patrick, Rojec, Matija and Svetlicic, Marjan (eds), Foreign Investment in Central and Eastern Europe (New York: St. Martin's Press, Inc).Google Scholar
Timberlake, Michael and Kentor, Jeffrey, 1983, Economic Dependence, Overurbanization, and Economic Growth: A Study of Less Developed Countries, Sociological Quarterly 24, 489–507.CrossRefGoogle Scholar
Unctad (United Nations Conference on Trade and Development), 1995, World Investment Report (New York).Google Scholar
United Nations, 1996, World Investment Report: Investment, Trade and International Policy Arrangement (New York and Geneva).Google Scholar
Vining, Aidan and Boardman, Anthony, 1992, Ownership versus Competition: Efficiency in Public Enterprises, Public Choice, 73, 205–239.CrossRefGoogle Scholar
Webb, Eugene T. et al. , 1981, Nonreactive Measures in the Social Sciences, 2d ed. (Boston: Houghton Mifflin).Google Scholar
World Bank, 1996, Development Report (Washington D.C.: World Bank).Google Scholar
World Bank, 2000, Foreign Direct Investment: New Trends in Transition Countries, http://www.worldbank.org/data/wdi/home.html, June 26.Google Scholar
Young, David G., 1993, Foreign Direct Investment in Hungary, in Artisen, Patrick, Rojec, Matija, and Svetlicic, Marjan (eds), Foreign Investment in Central and Eastern Europe (New York: St. Martin's Press, Inc), 109–122.Google Scholar
Zeitlin, Maurice, 1974, Corporate Ownership and Control: the Large Corporation and the Capitalist Class, American Journal of Sociology 89, 1073–1119.CrossRefGoogle Scholar
Zloch-Christy, Iliana (ed.), 1995, Privatization and Foreign Investment in Eastern Europe (Westport, CT: Praeger Publishers).Google Scholar