This policy has been promoted in such well-known studies as the Gordon Grey Report (1950), Nelson Rockefeller Report (1950), William Paley Commission, (1952), Randall Commission Report (1954), Watson Committee Report (1965). With reference to guarantees, see von Neumann WhitmanMarina, Government Risk-Sharing in Foreign Investment (Princton: Princeton University Press).
2.
See, for example, Indian Investment Center, India Welcomes Foreign Investment (New Delhi, 1965).
3.
United Nations, Foreign Investment in Developing Countries (New York, 1968). See p. 11 and Annex III.
4.
United Nations, p. 7.
5.
These are discussed in Agency for International Development, Foreign Aid Through Private Initiative (Watson Report) (Washington, 1965); and National Industrial Conference Board, Obstacles and Incentives to Private Foreign Investment 1962–1964, Studies in Business Policy, No. 115 (New York, 1965).
6.
Cited in United Nations, p. 11.
7.
John Fayerweather, “19th Century Idealogy and 20th Century Reality,”Columbia Journal of World Business, 1, No. 1 (Winter 1966) 77–84.
8.
KeynesJ. M., “Foreign Investment and National Advantage,”The Nation and the Athenaeum, 35 (August 9, 1924) 584–587.
9.
National Industrial Conference Board, p. 42.
10.
RobockStefan, “It's Good for Growth But Who's Swallowing?”Columbia Journal of World Business, 2, No. 6 (November-December, 1967) 13–23.
11.
KustMathew J., Foreign Enterprise in India, (Chapel Hill: University of North Carolina Press, 1964), p. 230.
12.
My views in this paper do not necessarily reflect the view of any organization with which I have been affiliated. I would like to thank J. Fred Truitt for making his review of the literature available to me.
