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1、TheSuntoryandToyotaInternationalCentresforEconomicsandRelatedDisciplinesInternationalCorporations:TheIndustrialEconomicsofForeignInvestmentAuthor(s):RichardE.CavesSource:Economica,NewSeries,Vol.38,No.149(Feb.,1971),pp.1-27Publishedby:WileyonbehalfofThe
2、LondonSchoolofEconomicsandPoliticalScienceandTheSuntoryandToyotaInternationalCentresforEconomicsandRelatedDisciplinesStableURL:http://www.jstor.org/stable/2551748Accessed:15-08-201421:26UTCYouruseoftheJSTORarchiveindicatesyouracceptanceoftheTerms&Condi
3、tionsofUse,availableathttp://www.jstor.org/page/info/about/policies/terms.jspJSTORisanot-for-profitservicethathelpsscholars,researchers,andstudentsdiscover,use,andbuilduponawiderangeofcontentinatrusteddigitalarchive.Weuseinformationtechnologyandtoolsto
4、increaseproductivityandfacilitatenewformsofscholarship.FormoreinformationaboutJSTOR,pleasecontactsupport@jstor.org.Wiley,TheLondonSchoolofEconomicsandPoliticalScienceandTheSuntoryandToyotaInternationalCentresforEconomicsandRelatedDisciplinesarecollabor
5、atingwithJSTORtodigitize,preserveandextendaccesstoEconomica.http://www.jstor.orgThiscontentdownloadedfrom220.178.4.217onFri,15Aug201421:26:21UTCAllusesubjecttoJSTORTermsandConditions1971]InternationalCorporations:TheIndustrialEconomicsofForeignInvestme
6、nt'ByRICHARDE.CAVESAstradefollowstheflag,sodoesappliedeconomicsfollowthenewspapers.Urgentissuesofpublicpolicyhaveinthepastdecadeorsocalledforthagreatdealofnewfactualevidenceontheinternationalcorporation,asthechiefconduitforforeigndirectinvestment.2Itha
7、sbeenstudiedasachannelfortheinternationaltransferoftechnology,asabusinessorganizationservingmorethanonenationalsovereignmaster,andasaforceinfluencingtheinternationalfinancialflowsrecordedinacountry'sbalanceofpayments.Yetrelativelylittleempha-sishasfall
8、enonwhatmightseemthetwoprincipaleconomicfeaturesofdirectinvestmentbytheinternationalcorporation:(1)itordinarilyeffectsanettransferofrealcapitalfromonecountrytoanother;and(2)itrepresentsentryintoanationalindustrybyafirmestablishedinafore
