Alvin G. Wint

Revised Edition. The new competitive foreign investment environment has prompted analogies between competition among governments for foreign investment and competition among firms for market share. Given the similarities in the nature of the competition, it is not surprising that countries are adopting marketing strategies that parallel those of private companies. Some of the findings of research on company marketing programs can thus benefit countries that are trying to attract investment. Organizations seeking to develop competitive strategies for marketing activities can, to some extent, manipulate three variables in their overall marketing programs, that is, the product, the price, or the promotion. The focus of the research in this publication is on promotion, an aspect of marketing a country that has been neglected until now. In the course of their research, the authors identify and categorize the promotion strategies that are being used by the governments in developing countries. The authors then analyze the various organizational approaches the governments employ to carry out the investment promotion function. Following the analysis, they develop a framework to help determine which investment promotion techniques and structures are effective and under what conditions. The first edition created a language for discussing the investment promotion function and has provided a rationale for successful promotion, especially in developing countries, that has stood the test of time. This new edition benefits from an update by one of the original authors, Professor Lous T. Wells, Jr., who has had the opportunity to observe investment promotion in a number of different settings. He has included this experience in this revised edition. This publication will be of interest to members of chambers of commerce, students and professors in business schools, and government officials.

Possibly no group is more conscious of the challenges created by the increasing integration of markets for capital, labour, products and information than small, developing economies. Policy makers from these economies have sought a two-track response to this integration. One response lies in increasing lobbying efforts for these economies to be accorded special, or more equitable treatment in market integration discussions. The second response lies in improving the competitiveness of their economies. It is this second response that provides the subject matter for this book. It explores the challenges and opportunities associated increasing competitiveness in small, developing economies based on research conducted in the Caribbean. The topics covered indicate the breadth of activity that is required to enhance. competitiveness. At the macro-policy level, the book explores the key drivers of competitiveness, examines the role of exchange rate regimes and of government policy, considers the implications sovereignty, and assesses the extent to which competitiveness likely to be improved by attracting foreign direct investment. At the level of private-sector enterprise the book reports on Caribbean-based research on the role of workplace change and enterprise management in enhancing firm competitiveness. Finally, the book covers competitiveness enhancement in rarely-traded non-private and micro enterprise sectors of small economies.

Managers in developing countries, whether operating in the private or public sectors, are constantly aware of the problems of underdevelopment. Effective management of international business activities in developing countries can improve the competitiveness and development prospects of these countries and, in turn, the companies operating within them. But to do so, managers need a developing country perspective on international trade agreements, international finance, foreign exchange, and national financial management. These topics, as well as practical chapters on the management of export production, financing exports, government export programs, and international investment make this very valuable reading for executives and those interested in international business.