This is the first comprehensive and comparative study on the impact of inward and outward direct investment on the industrial structure and international competitiveness of both developed and developing countries. Through a collection of case studies by internationally distinguished contributors, taken from the US, UK, France, Germany, Japan, Canada, Sweden, Belgium Korea, Portugal, India and Singapore, an attempt is made to assess the negative and positive impact of the MNE's on the economic structure and competitiveness of each country. The theme of the book is the effect which the presence of foreign MNE's - through their affiliates - and own country MNE's - through their foreign activities - have on the resource allocation and the international competitiveness of the country in question. It is argued that to remain internationally competitive governments must recognise the role of MNE's to maximise the net benefits of this form of commerce. This cohesive volume relates the activities of the MNE's to the economies of both home and host countries and to the problems of the international economy in the last decade and will make a valuable contribution to the study of multinational companies and to their role in society.