Thirty-eight years ago, the first comprehensive analysis on the consequences of inbound foreign direct investment (FDI) for a host country was published (Dunning 1958). The subject of study was the UK; since that date, similar investigations have been undertaken—with varying degrees of sophistication—for almost every country in the world.1 Hundreds of books, theses and government reports, and thousands of papers in academic and professional journals have been written on the topic,2 and scarcely a day goes by without some newspaper or magazine article lauding or denigrating the globalization of business activity.