ABSTRACT
In many economic activities, foreign investors are perceived as adding little value by way of their operations beyond that which domestic producers already can provide. In Ghana, for example, small businesses like hairdressing have been closed to foreign investment. The role of subnational governments can be important in sectoral restrictions. In Canada, for example, the securities industry has been regulated by provincial governments, and so the restrictions have varied among the provinces. It was not until 1987 that Ontario and British Colombia permitted the entry of foreign investors and also allowed corporations not in the securities industry to purchase securities dealers. Mexico's 1973 'Law to Promote Mexican Investment and to Regulate Foreign Investment' formed the basis for Mexico's restrictions on foreign ownership and control until 1989. In 1993, Mexico passed a new law with regard to its ports. Under this law, local administrators will be taking over the harbours, and they will privatize most services.
