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Between 1982 and 1994, the rate of growth of the global FDI stock was more than twice that of gross fixed capital formation, the growth of sales by foreign affiliates of multinational firms well exceeded that of world exports, and, by 1994, the MNFs accounted for approximately 6 percent of world output (United Nations, 1997, pp. This work on multinational firms addresses the implications of production, and the forces that determine location. Special attention is paid to differences across industries producing differentiated and technologically advanced goods, as compared to more basic oriented industries. The analytical framework builds on developments in the theory of location and multinational production. In addition, more micro-oriented aspects of agglomeration are incorporated into the analysis. The main focus of this book is on empirical issues, although the hypotheses tested are founded in theory. The analysis is based upon a data-set embracing approximately 90 per cent of Swedish multinational firms in the period 1965 to 1994, with emphasis on developments in the period 1980 to 1994.
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