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for InternationalSettlements,a strongcasemightbe madethatthe process of liberalizationof tradein financialserviceswouldbe confusedmorethan assisted by its inclusion in a broaderset of negotiations under GATT auspices.The authornotesthat the rightof establishmentis not currently a part of GATTprinciples,and that the conceptof reciprocity,whichin and of itself is not workablein this sector,is a part of these principles, andas he concludeshis book witha numberof reservationsor unanswered questionsthatneedto be addressedin the applicationof an umbrellacode forliberalizationof tradein servicesto thisspecificsector,it is disappointing that he does not developa cleardescriptionof how monetaryauthorities andthose chargedwithtradenegotiationsmightrespondto the clearneed for interaction. With the limitedcriticismthat Walterhas not solved all our problemsin comingto termswithboththe contentandprocessof liberalizationof trade in financialservices,he has provideda majorcontributionto our understandingof thiscriticalissue.His primaryachievementshavebeenthe developmentof an explanatorymodel of strategicbehavior(the CAP matrix) whichcan be usedto analyzethe strategicimpactof distortionscausedby protectionistactivities;an explanationof the types of protectionistactivwhatwereally ities,theiroriginsandeffects;a frameworkforunderstanding financialservices,the competconceptof equalityof meanby freetradein itive opportunity;and an appreciationof the difficultiesof applyingthe approachesof tradeliberalizationto this criticalsector.

TheIntemationallYansferof Technology:Theory,Issues, and Practice by RichardD. Robinson Cambridge,MA: Ballinger,1988 Reviewedby Jack N. Behrman Universityof North Carolinaat ChapelHill

Thisis an interestingandusefulbutcuriousbook. It doesnot havea thesis, and it is not a piece of originalresearch;it is aimed at the practitioner, principally,thoughit is not a manualor a "howto" book forthoseinvolved in transferringtechnology.It is, instead,a compendiumof selectedexisting research(includingsomebyRobinsonhimself)on someof theissuesrelated to technologytransfer. "Technology"is definedin the broadestof terms,includingvirtuallyall knowledgeeven distantlyrelatedto businessactivities.Such a definition shouldlead to a compendiumof multi-volumes,ratherthan one of only 250 pages, and the definitionis not followedin the remainingchapters; consequently,one is left askingwhythesetopicswereselectedratherthan many others. Despite the broad definition of "technology,"the issues examinedrelatemostlyto the moreusualconceptsof manufacturingtechnology, since the researchdrawnupon was itself mainlyfocused on that

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typeof technologytransfer.Thebook is (astitled)restrictedalmostwholly to thetransferprocess:otherwise,it wouldhavebecomefartoo ponderous; as it is, only a few detoursare made (as into the originsof technology). Given the scope of the subject, the author commendablyhas kept the materialsbriefandto the point, witheachchapterbeingvirtuallya standalonepiece.Savefora fewchapters,theorderof progressionis not apparent, andmanychaptersaremerelysuggestiveof issuesthatrequirefurtherexaminationbythoseinvolvedin transfers(suchas thaton "protection"of transferredtechnology).And a chapteron internationalbiddingis not woven into the main subjectmatter,despitethe potentialissues of "involuntary dissemination"that arise from this processas well as the costs involved when a bid is unsuccessful. Othersubjectsrelateto the sourcesand directionof flow of technology (witha briefdiscussionof the "braindrain,"whichis of questionablerelevanceto practitionersandwithoutevidenceof its seriousness),thetransfer process,the recipients,the role of governments,and the locationof R&D activitiesabroad.All of these arequitewell done. The two final chapters examinethe selectionof the transfermode and the relationof controlto successof the transferprocess.Thesetwo piecesareratherdetailedcomparisonsof differenttypes of cooperativeventures,but theirrelevanceto successin technologytransferis not assessed;thiscouldnot be donebriefly, but the readeris left "hanging." Thereareno recommendationsto transnationals,to recipients,to governments, or to academicsseekingto pursuenewresearchtopics. One is left witha basketof informationandconcepts,of dataandprocesses,of conflict issues and means of resolution.But the whole does not go anywhere;it need not, for the author'spurposewas simplyto informpractitionersso that theycould negotiatemoreeffectivecontractsfor the transferof technology,whichthe authorconsidersto be advantageousin enhancingglobal development. In drawingfromsuch a wide rangeof research,the authormakesno new contributions.Forthose knowledgeablein the field, thereis little evento stimulatethoughts on new approaches;in fact for practitioners,apparentlylittlehaschangedsincethe subjectwas firststudiedacademicallythirty technology"andforeign yearsago (theexceptions:conceptsof "appropriate thebook is a useful F orthoseunfamiliar, R&Dactivities). however, sitingof startingpoint, sinceit raisesa numberof significantissuesin the process of technologytransferand will point the readerto the sourcesof further inquiry,for the field is vast. Forthe academicseekingto enterthe field or to introducesome aspects into courses,this is a useful source;it will provideappropriatesubjectmatter.However,being in a sense a "tour de force" in attemptingto condensesuch a largetopic into a singlevolume,much of significanceis left out-e.g., the terms of a transferagreement,and the experienceof governments(such as Mexico and the Andean group) in attemptingto

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interveneintheprovisionsof suchagreements.Andtherearemanyconcepts and analyseswith which one could argue,but since thereis no "thesis," the disputablepointsremainuseful. Theywill raiseawarenessin the practitionerconcerningissuesto examinefurtherso as to determinetheirrelevanceto his situation.

Multinational Corporations and the Third World Edited by CJ. Dixon, D. Drakakis-Smith & H.D. Watts Reviewed by Ann Gregory Memorial University of Newfoundland

This book is composed of papers presented at a conference held in 1983 at the University of Birmingham (United Kingdom) under the auspices of the Developing Areas ResearchGroup and the Industrial Activity and Area Development Study Group of the Instituteof BritishGeographers.The book consists of eight chapters plus an introduction by the editors. The introduction by the book's editors discusses multinational enterprises from three vantage points: the international, regional and national, and corporate contexts, and stresses that all levels of economic change must be included in an analysis of the role of multinational enterprises. In terms of the three contexts mentioned above, the first three chapters are global, with the remaining chapters concentrating more closely on regional, national, sectoral and/or corporate levels. In terms of their theoretical perspectivesmany chaptershavebeen influencedby Marxistand neo-Marxist approaches, an observation, not a criticism. In terms of their theoretical sophistication, the contributions vary from a simplistic attempt of the first chapter to trace most multinational enterprise theory from Lenin, to very interestingand valuable discussions in severalchaptersof core and periphery development. Chapter one is entitled "The Multinational: Spearhead or Spectre?" by F.E.I. Hamilton. In this chapter Hamilton attempts to provide an overview of multinational corporations through a theoretical reviewand emphasizes that under capitalismthe development of multinational activity is inevitable. In his discussion of the theory of multinational corporations, he briefly describesthe various theories of multinational corporations, then states that many of the basic elements of the various theories had already been elaborated by Lenin in his writings. This chapter is very poorly written and is difficult to follow, an example of which is the practice of the author of writing in numerical point form, his own particular style being especially confusing since points are contained within points to an nth degree,making the discussion and arguments very difficult to follow. It is unfortunate that this is the first chapter of the book, for most will start with that chapter and many may throw down the book in disgust and not go on to some