1. Introduction and overview - Theodore H. Moran, Edward M. Graham, Magnus Blomström I. Searching for externalities and spillovers 2. The impact of inward FDI on host countries: Why such different answers? Robert E. Lipsey, Fredrik Sjöholm 3. Disentangling FDI spillover effects: what do firm perceptions tell us? Beata Smarzynska Javorcik, Mariana Spatareanu 4. Foreign direct investment and externalities: the case for public intervention - Garrick Blalock, Paul J. Gertler 5. R&D activities of foreign and national establishments in Turkish manufacturing - Asim Erdilek 6. Foreign direct investment and local economic development: beyond productivity spillovers - Holger Görg, Eric Strobl 7. Multinational firms and backward linkages: a critical survey and a simple model - Ping Lin, Kamal Saggi II. Impact of FDI on host-country growth 8. Does foreign direct investment accelerate economic growth? Maria Carkovic, Ross Levine 9. Inappropriate pooling of wealthy and poor countries in empirical FDI studies - Bruce A. Blonigen, Miao Grace Wang 10. Intrafirm trade of US MNCs: findings and implications for models and policies toward trade and investment - Susan E. Feinberg, Michael P. Keane III. Designing policies to capture beneficial effects 11. How does FDI affect host country development? Using industry case studies to make reliable generalizations - Theodore H. Moran 12. China's policies on FDI: review and evaluation - Guoqiang Long 13. Is Africa's skepticism of foreign capital justified? Evidence from east african firm survey data - Todd J. Moss, Vijaya Ramachandran, Manju Kedia Shah IV. Conclusios and implications for policy 14. Conclusions and implications for FDI policy in developing countries, new methods of research, and a future research agenda - Theodore H. Moran, Edward M. Graham, Magnus Blomström