The 1994 Benchmark Survey of U.S. Direct Investment Abroad was conducted by the Bureau of Economic Analysis (BEA) to obtain complete and accurate data on U.S. direct investment abroad in 1994. Reporting in the survey was mandatory under the International Investment and Trade in Services Survey Act.
The Division of Science Resources Studies (SRS) of the National Science Foundation publishes the biennial report, National Patterns of R Resources. This report describes and analyzes current patterns of research and development (R) in the United States, in relation to the historical record and the reported R levels of other industrialized countries. For years in which the full report is not produced, current, annual statistics on national and international R trends are released in data updates like this one.
The combined domestic and foreign operations of nonbank U.S. multinational companies (MNC's) continued to grow at a relatively fast pace in 1996. The growth in three key measures of MNC operations–gross product, employment, and capital expenditures — exceeded the average annual growth rate for 1989–95. According to preliminary estimates from the annual survey of U.S. direct investment abroad conducted by the Bureau of Economic Analysis (BEA), worldwide gross product of U.S. MNC's (U.S. parents and majority–owned foreign affiliates combined) increased 7 percent, compared with a similar increase in 1995 and an average annual increase of 5 percent in 1989–95; employment increased 2 percent, compared with a 1–percent increase in 1995 and negligible growth in 1989–95; capital expenditures increased 5 percent, compared with a 7–percent increase in 1995 and an average annual increase of 4 percent in 1989–95.
The net international investment position of the United States—U.S. assets abroad less foreign assets in the United States—at yearend 1997 was a negative $1,223.6 billion with direct investment valued at the current cost of tangible assets, and it was a negative $1,322.5 billion with direct investment valued at the current market value of owners' equity (table A, chart 1). For both measures, the net positions were more negative in 1997 than they were in 1996.
Since the surge in foreign direct investment in the United States in the late 1980's, much attention has focused on the role of foreign-owned firms in the U.S. economy, particularly in manufacturing. A question that is frequently posed concerns the degree to which U.S. affiliates of foreign companies are integrated into the U.S. economy through their sourcing behavior and value-added activity. A related question is whether U.S. manufacturing affiliates in comparison with domestically owned firms are more oriented toward producing for the U.S. market or for their home-country and other foreign markets.
China's emergence begs a fresh look at power in world affairs—more precisely, at how the spread of freedom and the integration of the global economy, due to the information revolution, are affecting the nature, concentration, and purpose of power. Perhaps such a look could improve the odds of responding wisely to China's rise.
Topic:
Security, Defense Policy, Government, and International Law
Since 1987 presidential elections have been the defining political moments in Korea. Although local elections may be more illustrative of the democratic process, for it is that level at which citizens are in intimate contact with their government and gauge its effectiveness, presidential elections command more attention because of the nature of Korean political culture. The Korean president has been half king, half chief executive. The cabinet has been his plaything, changeable at his whim; the legislature to date at most a modest thorn in his side. His phalanx of staff in the Blue House (the presidential residence) rarely questions his decisions. In his society he is far more powerful than the president of the United States is in his. There is no vice president in Korea.
Rodney W. Nichols, Susan U. Raymond, Margaret Catley-Carlson, Allan Rosenfield, and Michael E. Kafrissen
Publication Date:
09-1998
Content Type:
Working Paper
Institution:
New York Academy of Sciences
Abstract:
Surely one of the oddest of all recent debates is well underway in the United States. At issue is whether, in the year 2000 the population of the nation should be counted nose-by-nose, on foot, by an phalanx of freshly minted, part-time, house visiting census-takers (who evidently missed 8.4 million residents the last time they tried in 1990) or whether a technique should be used that would employ statistical sampling methods to reach census conclusions. The majority of those most heatedly engaged in the public debate probably did not even like math in school; many would not be able to explain the likely accuracy of either method. But debate they do, in the time-honored tradition of policy making in democracies—largely because the coveted prize is not merely an accurate count of the number of individuals, but more importantly an advantageous decision on the number of voters in electoral districts.
Topic:
Government, Health, Politics, and Science and Technology
Peter Huber, Susan Raymond, Rodney W. Nichols, Kenneth Dam, Kenneth R. Foster, George Ehrlich, Debra Miller, Alan Charles Raul, Ronald Bailey, and Alex Kozinski
Publication Date:
08-1998
Content Type:
Working Paper
Institution:
New York Academy of Sciences
Abstract:
As science and technology push the edges of understanding, innovation makes the once unimaginable merely quotidian. The flow—the torrent—of change inevitably meets the stock of laws and regulations that structure society. And, often, the legal system and the judiciary must cope with the resulting swirls, eddies, and, at times, whirlpools of ethical controversy and economic and societal choice.
Topic:
Economics, Government, International Law, and Science and Technology