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Direct Foreign Investment, Globalization, and Northern Growth: Implications of a North-South Model

Department of Economics, University of Notre Dame, Notre Dame, IN 46556, Dutt.1{at}nd.edu

A model of North-South trade is developed in which TNCs invest in the South to produce a good competing directly with the Northern good. It implies that the liberalization of direct foreign investment to the South increases the long-run equilibrium rate of both Northern and Southern growth. However, since the long-run equilibriums is likely to be a saddlepoint, the North can be hurt by this globalization.

Review of Radical Political Economics, Vol. 28, No. 3, 102-114 (1996)
DOI: 10.1177/048661349602800309


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