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- W20143786 abstract "Australia has been a net international borrower for most of the period since British settlement. Foreign borrowings and direct foreign investment have allowed a large number of investment projects to proceed which otherwise would either not have taken place or would have required considerably lower levels of expenditure, and therefore lower living standards, for Australian households. The benefits of international borrowing are obvious. At regular intervals, however, costs of reliance on foreign capital have become apparent. Real and perceived problems associated with foreign debt exacerbated the difficulties generated by the depressions of the 1890s and 1930s and the 'recession we had to have' from 1989 to the early 1990s. At other times, notably in the 1970s, the main focus of concern has been foreign equity investment which has resulted in foreign ownership or control of many important Australian businesses and, in some cases, entire industries. This concern has re-emerged in recent years, with a particular focus on the notion of a 'branch-office' economy. The central claim is that foreign ownership will result in the replacement of companies headquartered in Australia by branches of transnational enterprises based in the United States, Japan and Europe." @default.
- W20143786 created "2016-06-24" @default.
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- W20143786 date "2001-01-01" @default.
- W20143786 modified "2023-09-27" @default.
- W20143786 title "Foreign Investment and the Branch-Office Economy" @default.
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