By Silvio Borner
About 10 years in the past, the 1st very small steps in the direction of this ebook have been taken. the place to begin used to be marked through the deep and surprising stoop of the Swiss economic system within the mid-seventies: a problem wiping out approximately 10 percent issues of GNP and employment inside of simply years. To this author, it was once transparent from the start that neither the exogenous shocks nor the struc tural alterations have been actually exogenous or structural. They got and sha ped through international forces. They have been half and parcel of capitalist improvement. there isn't any different hugely built kingdom on this planet that is so ex tremely and integrally uncovered to world-wide currents of monetary and financial alterations as Switzerland. The measure and dimensions of open ness ofthe Swiss economic climate ended in the formula of our study procedure for learning the internationalization of the economic climate, a subject theoretically and politically built during this booklet. Empirical proof pertains to our research of Swiss event. a widely known Swiss-American economist provided the next com ment on our past paintings at the internationalization of undefined: "You are first-class in elevating fascinating questions ..." What was once unquestionably intended as a feedback used to be got as a praise. an excessive amount of expertise and too many learn efforts are, in my view, wasted by means of study courses which position process over substance. This unlucky improvement in our occupation has already drastically lowered the social application of economists.
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Extra info for Internationalization of Industry: An Assessment in the Light of a Small Open Economy (Switzerland)
6 Group Investment Various firms from one or more countries enter a joint venture in order to guarantee or achieve cooperation on a third market. The team can be project oriented or have a permanent status. Group investments as NFII refer only to investment oriented, long-term ventures. For example, production joint ventures without local participation, marketing joint ventures, or various types of turnkey operations. However, group investments can also be operated as NFEF: arm's-length transactions which have an extended time horizon but which lack typical investment traits.
Yet the concept does not exclude North-North or South-North subcontracting. Using the UNIDO typology (UNIDO 1975: 23/24) we distinguish among the following: - Cost-motivated sub-contracting: The contractor is able to realize cost advantages. - Specialized sub-contracting: The contractor utilizes the specialized know-how and infrastructure of the contractee. - Surplus sub-contracting: The contractor cannot or will not expand his facilities. - Peak demand sub-contracting: The contractor needs reprieve from short-term increases in demand.
New Forms of Internationalization are, of course, not really "new" as such. What is new, however, is: - the fact that these forms are rapidly spreading and partly replacing classical trade and FOI - the conceptual notion that trade and FOI are special (extreme) cases in a framework of contractual interdependence among enterprises. We prefer the general term "New Forms of Internationalization" to either "New Forms of Investment" or "New Forms of Cooperation" because both the latter have a normative ring to them, implying some kind of improvement over traditional sales and investment relationships.
Internationalization of Industry: An Assessment in the Light of a Small Open Economy (Switzerland) by Silvio Borner