Invested Interest
Vijay Laxman Kelkar
FOREIGN INVESTMENT AND ECONOMIC DEVELOPMENT IN ASIA by Nihar K. Sarkar Orient Longman, New Delhi, 1977, 286 pp., 75.00
March-April 1977, volume 2, No 3/4

This volume contains a collection of papers on different aspects of private foreign investment in Asia. The contri­butors are the members of the Joint Re­search Team set up by the United Natio­ns Economic and Social Council for Asia and Pacific (ESCAP). In these essays, the focus is on the role of private foreign investment in the countries of South and East Asia such as India, Pakistan, Thailand, South Korea, Taiwan, Indonesia, Malaysia, Iran and Philippines. Although the essays are published in the year 1976, the data of this volume cover the period only up to the end of the sixties. In the era of neocolonialism, private foreign investment is one of the key inst­ruments deployed by the metropolitan countries in order to retain ‘control’ of the domestic economies of the Third World. At least this is the New Orthod­oxy of the growing literature on the de­veloping economies.

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