Foriegn Direct Investment

References: Aitken, Brian and Ann Harrison (1992), ‘Does Proximity to Foreign Firms Induce Technology Spillovers? Evidence from panel data’, mimeo, MIT. Athreye, Suma and Sandeep Kapur (1999), ‘Foreign-controlled firms in Indian manufacturing: long-term trends’, mimeo, UMIST, Manchester. Balasubramanyam, VN, D Sapsford and M Salisu (1996), ‘Foreign direct investment and growth in EP and IS countries’, Economic Journal, 106, 92105. Basant, Rakesh (1999), ‘Corporate Response to Economic Reforms in India’, mimeo, IIM, Ahmedabad. Basant, R and B Fikkert (1996), ‘The effects of R&D, foreign technology purchase, and domestic and international spillovers on productivity in Indian firms’, The Review of Economics and Statistics, 78, 187-199. Caves, R E (1996), Multinational enterprises and Economic Analysis, second edition, Cambridge University Press. Chandra, Nirmal K (1977), ‘Role of foreign capital in India’, Social Scientist, 57. 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Rodrik, Dani (1999), The New Global Economy and Developing Countries, Overseas Development Council, Washington, DC. Singh, Ajit and Bruce Weisse (1998), ‘Emerging stock markets, portfolio capital flows and long-term economic growth: micro and macro perspectives’, World Development, 26, 607-622. Srivastava, V (1996), Liberalization, Productivity and Competition: A Panel Study on Indian Manufacturing, Oxford University Press, Delhi. Wang, J.Y.and M. Blomstrom (1992), ‘Foreign Investment and technology transfer: a simple model’, European Economic Review, 36, 137-155. 28 Foreign investment in India Figure 1: Market share of foreign-controlled firms in manufacturing gross sales, percentages 35 30 25 20 15 10 5 0 1970 1975 1980 1985 1990 Year Note: Manufacturing covers medium and large public limited firms that are classified under SIC codes 310-590: this excludes plantations, mining and services. Data after 1991 is not strictly comparable with that for earlier years. 29