1 United Nations Conference on Trade and Development, World Investment Report 2003 (New York: UNCTAD, 2003), Annex B, Table B.3, p. 257. Note: There have been significant fluctuations in this share. For example, developed economies' share was at its peak in 1990, when it accounted for 71.6 per cent of world total stocks of inward FDI.
2 The legislation creating Investment Canada states: "Recognizing that increased capital and technology would benefit Canada, the purpose of this Act is to encourage investment in Canada by Canadians and non-Canadians that contributes to economic growth and employment opportunities and to provide for the review of significant investments in Canada by non-Canadians in order to ensure such benefit to Canada." Investment Canada Act [on-line]. 1985 [cited May 7, 2004]. Available on the Internet <http://laws.justice.gc.ca/en/I-21.8/78944.html#rid-78950>.
3 "Foreign direct investment is considered to be an important driver of economic growth in OECD countries. . . . There is a wide consensus that policy should aim at reducing or eliminating hindrances to FDI as long as it does not conflict with other legitimate policy objectives." Organisation for Economic Co-operation and Development, OECD Economic Outlook 73 (2003), p. 157.
4 According to a United Nations report, in 2001, member countries made 194 regulatory changes favourable to increased inward FDI and only 14 unfavourable changes. UNCTAD, World Investment Report 2002 (Geneva: UNCTAD, 2002), p. 7.
5 A 1985 Conference Board of Canada report on the outlook for Canadian FDI stated that "as a nation, Canada is no longer specially favoured in international competition for the investor's attention and capital. …Slower economic growth, the emergence of newly industrialized countries, the persistence of the world debt crisis, and rapid technological change have all come to exert great pressure on the pattern of worldwide investment." C. Barrett, C. Beckman and D. McDowell, The Future of Foreign Investment in Canada (Ottawa: The Conference Board of Canada, January 1985), p. vii.