Indigenous industries and multinational corporations in the second-tier foreign market: promotion and control measures

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Periodical article

Title:	Indigenous industries and multinational corporations in the second-tier foreign market: promotion and control measures
Author:	Akor, M.E.
Year:	1986
Periodical:	The Nigerian Journal of Economic and Social Studies
Volume:	28
Issue:	1
Pages:	89-104
Language:	English
Geographic term:	Nigeria
Subjects:	foreign exchange multinational enterprises
Abstract:	In examining the place of indigenous industries and multinational corporations in the second-tier foreign exchange market (SFEM), the author reviews the control of the Nigerian economy by the multinationals, their likely role in the SFEM relative to indigenous firms, and the implications for Nigeria's self-reliance strategy. An uncontrolled SFEM operating under free market forces could lead to concentration of foreign capital, strangulation of domestic enterprises and discouragement of industrial production either for the domestic market or for export. Successful operation of SFEM must be accompanied by continuing controls on multinationals as well as measures discriminating in resource allocation in favour of domestic enterprises and domestic industrial production. Ref.