ABSTRACT
During the 1960s and 1970s the literature on transnationals gave quite a lot of attention to the arguments for and against outward investment-see, for example, Balogh and Streeton (1960), Frankel (1965), Hufbauer and Adler (1968), Dunning (1969, 1970), Gilpin (1976) and the text by Hood and Young (1979). Since then the arguments have received more sporadic attention, although see especially Dunning’s (1992) recent contribution examining the impact of outward investment in the context of Porter’s (1990) Diamond of Competitive Advantage. More generally the literature has focused on the impact of outward investment from various angles, including so-called ‘home’ and ‘host’ country concerns, the interests of consumers, capital and labour.
