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Mr. Neil K. Patterson, Ms. Marie Montanjees, Colleen Cardillo, and Mr. John Motala

Abstract

3.1 With the integration of international capital markets, global FDI flows grew strongly in the 1990s at rates well above those of world economic growth and trade. Recorded global inflows grew by an average of 13 percent a year during 1990–97.1 Driven by large cross-border mergers and acquisitions (M&A), these inflows increased by an average of nearly 50 percent a year during 1998–2000, reaching a record $1.5 trillion in 2000 (see Table 3.1). Inflows declined to $729 billion in 2001, mostly as a result of the sharp drop in cross-border M&A among the industrial countries, coinciding with the correction in world equity markets.2 Worldwide, the value of cross-border M&A declined from the record $1.1 trillion in 2000 to about $600 billion in 2001.3

Mr. Neil K. Patterson, Ms. Marie Montanjees, Colleen Cardillo, and Mr. John Motala

Abstract

5.1 As introduced in Chapter 2, the BPM5 defines direct investment as a category of international investment that reflects the objective of a resident in one economy (the direct investor) obtaining a lasting interest in an enterprise resident in another economy (the direct investment enterprise). The lasting interest implies the existence of a long-term relationship between the direct investor and the direct investment enterprise and a significant degree of influence by the investor on the management of the enterprise.

Mr. Neil K. Patterson, Ms. Marie Montanjees, Colleen Cardillo, and Mr. John Motala

Abstract

2.1 The BPM5 defines FDI as a category of international investment that reflects the objective of a resident in one economy (the direct investor) obtaining a lasting interest in an enterprise resident in another economy (the direct investment enterprise). The lasting interest implies the existence of a long-term relationship between the direct investor and the direct investment enterprise, and a significant degree of influence by the investor on the management of the enterprise. A direct investment relationship is established when the direct investor has acquired 10 percent or more of the ordinary shares or voting power of an enterprise abroad.

Mr. Neil K. Patterson, Ms. Marie Montanjees, Colleen Cardillo, and Mr. John Motala

Abstract

4.1 Many countries compile and disseminate in national publications and/or websites information on FDI, typically in the context of balance of payments and IIP statistics. To facilitate analysis, these statistics are often extended to provide geographic information on FDI transactions and positions vis-à-vis individual partner countries or regions. Many countries also compile FDI statistics broken down by industrial sector.

Mr. Neil K. Patterson, Ms. Marie Montanjees, Colleen Cardillo, and Mr. John Motala

Abstract

1.1 Growing international linkages through foreign direct investment (FDI) are an important feature of financial globalization and raise important challenges for policymakers and statisticians in industrial and developing countries alike. With the integration of international capital markets, world FDI flows grew strongly in the 1990s at rates well above those of global economic growth or trade. This has placed the activities of direct investors and direct investment enterprises under increasing scrutiny and presented new challenges for statistical recording, balance of payments projections, economic surveillance, and vulnerability analysis. This report surveys the recent state of FDI statistics at the international and national levels.

Mr. Neil K. Patterson, Ms. Marie Montanjees, Colleen Cardillo, and Mr. John Motala

Abstract

The increasing importance of multinational enterprises in the global economy has stimulated interest in improving the availability, accuracy, and comparability of foreign direct investment (FDI) statistics among policymakers, analysts, and statisticians. This report notes recent trends in FDI and examines the progress made in moving toward compilation of FDI statistics in accordance with standards established by the IMF and the Organization for Economic Cooperation and Development (OECD). The report also reviews international recommendations for the compilation, analysis, and dissemination of FDI data and notes discrepancies in global balance of payments statistics and in data on bilateral FDI stocks. In addition, the report provides information on selected countries current practices in measuring FDI--on the basis of results from a joint IMF/OECD survey that covered 30 OECD countries and 31 other IMF member countries and was the subject of Foreign Direct Investment Statistics: How Countries Measure FDI 2001, published by the IMF and OECD in 2003.

Mr. Neil K. Patterson, Ms. Marie Montanjees, Colleen Cardillo, and Mr. John Motala

Abstract

7.1 The growing importance of FDI in the world economy has placed the activities of direct investors and direct investment enterprises under increasing scrutiny and raised demands for more statistical work. Although countries are compiling and disseminating a greater amount of data on FDI transactions and stocks and increasingly are adopting the recommendations of the international statistical manuals, there remain important deficiencies in the coverage and comparability of data in both industrial and developing countries. The data deficiencies reflect the complexities of compiling FDI data, as well as the use by countries of different methodological practices in compiling these data.

Mr. Neil K. Patterson, Ms. Marie Montanjees, Colleen Cardillo, and Mr. John Motala

Abstract

6.1 This chapter summarizes the findings from the 2001 update of the Survey of Implementation of Methodological Standards for Direct Investment (SIMSDI).1 Highlights of the results are provided in Box 6.1.