Authors
A John
Publication date
1997/9/1
Source
JOURNAL OF ECONOMIC LITERATURE
Volume
35
Issue
3
Pages
1430-1432
Publisher
AMER ECONOMIC ASSOC
Description
opponent's strength as a way to gain ground. Streeten uses this metaphor in describing how developing country governments can take advantage of the technology and capital brought by foreign direct investment. For example, by setting up joint enterprises where the government holds 51 percent of the equity and provisions are made for the govern-ment to eventually buy out the entire enterprise, Streeten argues that FDI can be harnessed for the long-term advantage of the population.
The fourth lecture concerns a broader ar-gument on markets and states. Streeten sug-gests that the invisible hand can be made more effective with a helping visible hand; ie, markets can be made to work better through provision of complementary public inputs (eg, investments in infrastructure, an-titrust regulations, and broader regulatory and tax roles). The discussion is then extended to include corrective actions suggested by the …