Twenty years of the World Investment Report: Retrospect and prospects

This paper reviews successive editions of the World Investment Reports (WIR) from UNCTC and then UNCTAD over the period 1991–2010. The 20 WIRs present an excellent overview of changing perspectives of key aspects of interaction between transnational corporations (TNCs) and development. Successive WIRs have reflected and have helped to create paradigm shifts in our understanding of the complex relationships between TNCs and development. A number of WIRs have helped the academic and business communities to focus on particular aspects of TNC activity, types of TNC or emerging phenomena in the global economy. Their continuing re-evaluation of the development impact of changing TNC structures, strategies and modes of operation has helped to shape the intellectual landscape and policy prescription towards TNCs. Through the WIR, UNCTAD has been able to influence policy towards TNCs and development in many domains, many host and source countries and at the international level. The content of the 20 WIRs represents a considerable intellectual achievement.