Policy competition for foreign direct investment in the Caribbean Basin: Costa Rica, the Dominican Republic and Jamaica
Includes bibliography
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2014
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oai-11362-46912020-03-04T17:50:27Z Policy competition for foreign direct investment in the Caribbean Basin: Costa Rica, the Dominican Republic and Jamaica Mortimore, Michael Peres Núñez, Wilson NU. CEPAL. División de Desarrollo Productivo y Empresarial COMERCIO EXTERIOR COMPETENCIA EMPRESAS TRANSNACIONALES INVERSION EXTRANJERA DIRECTA PRODUCTIVIDAD COMPETITION FOREIGN DIRECT INVESTMENT FOREIGN TRADE PRODUCTIVITY TRANSNATIONAL CORPORATIONS Includes bibliography Abstract The globalization process based on more intense trade competition among countries coupled with a process of transnationalisation, in which TNCs adapt by establishing international systems of integrated production, produces the result that countries also compete more for foreign direct investment. Countries realize that the attraction of a substantial element of a TNCs international system of international production —specially one that is export intensive— can represent a very meaningful way for a country to adapt to the globalization process. This is particularly the case for small countries lacking a indigenous industrialization process. Countries compete for FDI through (1) incentives, that is, the provision of direct or indirect subsidies, tax holidays and other financial incentives, (2) rules, that is, the strengthening of a market economy with an adequate legal system, labour and environmental standards, intellectual property rights and regional integration agreements, and (3) factors, that is, the development of production factors and infrastructure needed for an efficient economic performance. Depending on whether countries fall prey or not to 'bidding wars', policy competition for FDI can result in either positive- or negative-sum games. An examination of this situation in the Caribbean Basin, based on the experiences of important FDI recipients like Costa Rica, Dominican republic and Jamaica, suggests that policy competition for FDI has intensified and both the positive and negative aspects have become evident. These case studies all use export processing zones as their principal incentives and the main linkage between these small Caribbean countries and their principal export market is found in the assembly of apparel in EPZs. An analysis of their experiences, based on questionnaires administered to some of the most important firms operating in these industries coupled with an evaluation of national benefits, suggests that a kind of bidding war exists there and that just keeping up with what other countries offer as incentives to TNCs often backfires and that unfocused incentives often produce unpredictable results. Based on these experiences, this studies suggests that integral, active policies focused on wider national goals are required to better target relevant TNCs in a more functional way. The success of Costa Rica in attracting a huge investment by the United States semiconductor TNC, Intel, based more on the provision of a skilled and capable work force rather than sheer incentives, would appear to be a practical example to follow in this regard. 2014-01-02T15:31:26Z 2014-01-02T15:31:26Z 1998-05 Texto Documento Completo http://hdl.handle.net/11362/4691 LC/G.1991 en Desarrollo Productivo 49 application/pdf COSTA RICA JAMAICA REPUBLICA DOMINICANA COSTA RICA DOMINICAN REPUBLIC JAMAICA CEPAL |
| institution |
Cepal |
| collection |
Cepal |
| language |
English |
| topic |
COMERCIO EXTERIOR COMPETENCIA EMPRESAS TRANSNACIONALES INVERSION EXTRANJERA DIRECTA PRODUCTIVIDAD COMPETITION FOREIGN DIRECT INVESTMENT FOREIGN TRADE PRODUCTIVITY TRANSNATIONAL CORPORATIONS |
| spellingShingle |
COMERCIO EXTERIOR COMPETENCIA EMPRESAS TRANSNACIONALES INVERSION EXTRANJERA DIRECTA PRODUCTIVIDAD COMPETITION FOREIGN DIRECT INVESTMENT FOREIGN TRADE PRODUCTIVITY TRANSNATIONAL CORPORATIONS Mortimore, Michael Peres Núñez, Wilson Policy competition for foreign direct investment in the Caribbean Basin: Costa Rica, the Dominican Republic and Jamaica |
| description |
Includes bibliography |
| author2 |
NU. CEPAL. División de Desarrollo Productivo y Empresarial |
| author_facet |
NU. CEPAL. División de Desarrollo Productivo y Empresarial Mortimore, Michael Peres Núñez, Wilson |
| format |
Texto |
| author |
Mortimore, Michael Peres Núñez, Wilson |
| author_sort |
Mortimore, Michael |
| title |
Policy competition for foreign direct investment in the Caribbean Basin: Costa Rica, the Dominican Republic and Jamaica |
| title_short |
Policy competition for foreign direct investment in the Caribbean Basin: Costa Rica, the Dominican Republic and Jamaica |
| title_full |
Policy competition for foreign direct investment in the Caribbean Basin: Costa Rica, the Dominican Republic and Jamaica |
| title_fullStr |
Policy competition for foreign direct investment in the Caribbean Basin: Costa Rica, the Dominican Republic and Jamaica |
| title_full_unstemmed |
Policy competition for foreign direct investment in the Caribbean Basin: Costa Rica, the Dominican Republic and Jamaica |
| title_sort |
policy competition for foreign direct investment in the caribbean basin: costa rica, the dominican republic and jamaica |
| publisher |
CEPAL |
| publishDate |
2014 |
| url |
http://hdl.handle.net/11362/4691 |
| work_keys_str_mv |
AT mortimoremichael policycompetitionforforeigndirectinvestmentinthecaribbeanbasincostaricathedominicanrepublicandjamaica AT peresnunezwilson policycompetitionforforeigndirectinvestmentinthecaribbeanbasincostaricathedominicanrepublicandjamaica |
| _version_ |
1718439427532914688 |