Book reviewWorld Investment Report 2006, FDI from Developing and Transition Economies: Implications for Development by United Nations Conference on Trade and Development (UNCTAD). United Nations Publications, New York (2006).

This review essay concerns global FDI flows that are growing in size and importance in national development endeavors. The World Investment Report 2006 (WIR) contains a wealth of data and invaluable analysis concerning the effects of FDI on the world economy and development programs in the developed, developing, and transition economies. It is proposed that the future focus of the report should be expanded to include new ideas and research embedded in the new growth theory and recent interdisciplinary analysis, which meet the criteria of constantly changing world economic and cultural outlook and rising expectations. This approach also requires reforming the growth regime within the framework of globalization to achieve the goals of development and environmental renewal.