In the late 1980’s, the more progressive developing countries, particularly in Latin America, began to give up their isolationist policies and to loosen the controls over trade and investment. Today they are trying to attract large sources of new capital for investment, new technologies, new manufacturing techniques and business know-how, improve training for their labour force and organizational and managerial expertise. Some countries are lowering taxes on royalties paid to foreign companies under licensing agreements for modern technology and technical assistance. Government “Red-tape” is being cut allowing a faster and easier flow of paper work through government bureaucracies, and Government agencies are applying laws and regulations to foreign firms in a fairer and more consistent manner.
Available at: http://works.bepress.com/snehal_bade/2/