|Published by the United Nations Conference on Trade and Development - UNCTAD
WORLD INVESTMENT REPORT 2004
The Shift Towards Services
WIR04 presents the latest trends in foreign direct
investment and explores the shift towards services, with a
special analysis of offshoring service activities.
Part One discusses recent global and regional trends
in FDI and international production by TNCs. Global FDI flows
bottomed out in 2003, but there were some regional differences.
The sectoral pattern of FDI is shifting towards services.
Outward FDI from developing countries is becoming significant.
There is also optimism that inflows to these countries will
increase in 2004 and beyond.
Part Two deals with FDI in services - an important
but often neglected area of FDI in the context of development.
It examines the shift of FDI towards services with a focus on
the entry of TNCs into new service areas. Services FDI,
especially in intermediate and infrastructure services, affects
the economic performance of a host-country in all sectors. The
offshoring of corporate services is taking off rapidly, thanks
to advances in information and communications technologies.
However, the potential of such offshoring can only be harnessed
if countries adopt appropriate policies.
Part Three analyses key issues relating to national
and international policies on FDI in services. As many services
are deeply embedded in the social, cultural and political fabric
of host societies, the impact of FDI on those services could be
far-reaching. Therefore, national policies matter - not only to
attract FDI in services, but also to maximize its benefits and
minimize its potential negative impacts. The proliferation of
international investment agreements (IIAs) covering FDI in
services has resulted in a multifaceted and multilayered network
of international rules that affect national policy-making.
The WIR04 includes a substantial statistical annex,
which is also available on CD-ROM.
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Table of contents - Preface - Acknowledgements - Abbreviations|
FDI Set To Recover
1 [PDF, 38pp., 1483KB]
Global FDI growth set to resume
A. FDI inflows down again - but recovery is on its way
B. Outward FDI from developing countries is becoming important
C. Changing sectoral distribution
D. Prospects: growth set to resume
Annex to chapter I. How transnational are TNCs?
II [PDF, 55pp., 1884KB]
Regional FDI Trends: A Mixed Picture
A. Developing Countries
B. Central and Eastern Europe: awaiting the boom
C. Developed Countries: the decline continues, but prospects are good
The Shift Towards Services
III [PDF, 54pp., 350KB]
The Growth of FDI in Services and its implications
A. Changing patterns of FDI in services
B. Players and driving forces
C. Impact on host countries
Annex to chapter III. What are services: Classifying invisibles.
IV [PDF, 35pp., 357KB]
The offshoring of corporate service functions: the next global shift?
A. The tradability revolution
B. Future prospects for the offshoring of services
C. Outsourcing vs. captive business models
D. Search for competitiveness drives corporate offshoring
E. Impact on host countries
F. Implications for home countries
National and International Policy Challenges
V [PDF, 36pp., 367KB]
A. Host-country policies on services are key to development gains
B. Home countries: the challenge of adapting
VI [PDF, 22pp., 214KB]
National and International Policies: A Complex and Dynamic
A. The growing multifaceted network of services IIAs
B. Complexities and challenges
C. National and international policies: a complex and dynamic interaction
D. Conclusion: striking a development-oriented balance
Report (One file) [PDF, 468pp., 4848KB]
UN Symbol: UNCTAD/WIR/2004 & CD-ROM
Sales no.: E.04.II.D.36
Date of publication: 22/09/04
No. of pages: 468
US$ 75 (Developed countries)
US$ 30 (Developing countries)
To order: Order form