Louis T. Wells

Herbert F. Johnson Professor of International Management, Emeritus

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(617) 495-6107

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Professor Louis T. Wells is the Herbert F. Johnson Professor of International Management at the Harvard Business School. He has served as consultant to governments of a number of developing countries, as well as to international organizations and private firms. His principal consulting activities have been concerned with foreign investment policy and with negotiations between foreign investors and host governments.

His research interests include multinational enterprises; international business-government relations; foreign investment in developing countries; and foreign investment by firms from developing countries. He was the Coordinator for Indonesia Projects, Harvard Institute for International Development, Jakarta, Indonesia, in 1994-5. His associations include: Fellow -Academy of International Business, member - Foreign Advisory Board - Lahore Business School, and member - Council on Foreign Relations.

Professor Wells received a BS in Physics from Georgia Tech and his MBA and DBA from the Harvard Business School.

    Publications

    Books

    1. Making Foreign Investment Safe: Property Rights and National Sovereignty

      Keywords: Investment; Property; Rights;

      Citation:

      Wells, L. T., Jr., and Rafiq Ahmed. Making Foreign Investment Safe: Property Rights and National Sovereignty. New York: Oxford University Press, 2007.
    2. Plantage-, Handels-, en Mijngeld van Nederlands Indië

      Citation:

      Lansen, A. J., and L. T. Wells Jr. Plantage-, Handels-, en Mijngeld van Nederlands Indië. Oosteinde, Netherlands: Mevius Numisbooks International, 2001.
    3. Manager in the International Economy

      Citation:

      Vernon, R., L. T. Wells Jr., and S. Rangan. Manager in the International Economy. 7th ed. Englewood Cliffs, NJ: Prentice Hall, 1995. (Wells was co-author with R. Vernon of the second through fifth editions, as well. An earlier edition was also published in Korean.)
    4. Facilitating Foreign Investment: Government Institutions to Screen and Monitor Investment from Abroad

      Keywords: Foreign Direct Investment; Government and Politics; Investment;

      Citation:

      Wells, L. T., Jr., and A. G. Wint. Facilitating Foreign Investment: Government Institutions to Screen and Monitor Investment from Abroad. Foreign Investment Advisory Service Occasional Paper. Washington, D.C.: International Finance Corporation, 1991.
    5. Economic Environment of International Business

      Keywords: Business Ventures; Global Range; Economics;

      Citation:

      Vernon, R., and L. T. Wells Jr. Economic Environment of International Business. 5th ed. Englewood Cliffs, NJ: Prentice Hall, 1991. (Wells was a co-author of the first through fourth editions, as well. One edition was published in Chinese by the editorial staff of the Shanghai San-Lian Bookstore, 1990.)
    6. Teaching Manual for Manager in the International Economy

      Keywords: Global Strategy;

      Citation:

      Wells, L. T., Jr. Teaching Manual for Manager in the International Economy. Englewood Cliffs, NJ: Prentice Hall, 1991. (Latest version is for the 6th edition.)
    7. Technology Crossing Borders: The Choice, Transfer, and Management of International Technology Flows

      Keywords: Knowledge Dissemination; Technology;

      Citation:

      Wells, Louis T., and Robert B. Stobaugh, eds. Technology Crossing Borders: The Choice, Transfer, and Management of International Technology Flows. Boston: Harvard Business School Press, 1984.
    8. Third World Multinationals

      Keywords: Developing Countries and Economies; Multinational Firms and Management;

      Citation:

      Wells, L. T., Jr. Third World Multinationals. Cambridge, MA: MIT Press, 1983. (Also available in Chinese, 1986.)
    9. Product Innovation and Directions of International Trade

      Keywords: Product Development; Globalization;

      Citation:

      Wells, L. T., Jr. Product Innovation and Directions of International Trade. NY: Arno Press, Inc., 1980.
    10. Tax and Investment Policies for Hard Minerals: Public and Multinational Enterprises in Indonesia

      Keywords: Taxation; Investment; Policy; Metals and Minerals; Multinational Firms and Management; Indonesia;

      Citation:

      Gillis, Malcolm, Ralph Beals, Glenn Jenkins, L. T. Wells Jr., and Ulrich Peterson. Tax and Investment Policies for Hard Minerals: Public and Multinational Enterprises in Indonesia. MA: Ballinger Publishing Company, 1980. (Wells wrote chapter 20.)
    11. Taxation and Mining: Non Fuel Minerals in Bolivia and Other Countries

      Keywords: Taxation; Mining; Metals and Minerals; Bolivia;

      Citation:

      Wells, L. T., Jr., Malcolm Gillis, and Meyer W. Bucovetsky. Taxation and Mining: Non Fuel Minerals in Bolivia and Other Countries. Cambridge, MA: Ballinger Publishing Company, 1978. (Wells wrote or was co-author of chapters 5, 7, 8, and 9.)
    12. Negotiating Third World Mineral Agreements: Promises as Prologue

      Keywords: Metals and Minerals; Agreements and Arrangements; Developing Countries and Economies;

      Citation:

      Smith, David N., and L. T. Wells Jr. Negotiating Third World Mineral Agreements: Promises as Prologue. Cambridge, MA: Ballinger Publishing Company, 1975. (Wells also wrote or was co-author of chapters 5, 7, 8, and 9.)
    13. The Choice of Technology in Developing Countries: Some Cautionary Tales

      Keywords: Developing Countries and Economies; Technology;

      Citation:

      Wells, L. T., Jr. The Choice of Technology in Developing Countries: Some Cautionary Tales. Cambridge, MA: Harvard University, Center for International Affairs, 1975.
    14. The Acquisition of Technology from Multinational Corporations by Developing Countries

      Keywords: Technology; Multinational Firms and Management; Developing Countries and Economies;

      Citation:

      Chudson, Walter A., and L. T. Wells Jr. The Acquisition of Technology from Multinational Corporations by Developing Countries. Series ST/ESA/12. New York: United Nations, Dept. of Economic and Social Affairs, 1974. (Sales No. E.74.II.A.7.)
    15. Managing the Multinational Enterprise: Organization of the Firm and Ownership of the Subsidiary

      Keywords: Multinational Firms and Management; Organizational Structure; Ownership;

      Citation:

      Stopford, John M., and L. T. Wells Jr. Managing the Multinational Enterprise: Organization of the Firm and Ownership of the Subsidiary. NY: Basic Books, 1972, French ed.
    16. A Product Life Cycle for International Trade?

      Keywords: Product; Trade;

      Citation:

      Wells, L. T., Jr., ed. A Product Life Cycle for International Trade? Boston: Harvard Business School, Division of Research, 1972.

    Journal Articles

    1. Infrastructure and Privatization

      Keywords: Infrastructure; Privatization;

      Citation:

      Wells, Louis T., Jr. "Infrastructure and Privatization." World Bank (forthcoming).
    2. Government-held Equity in Foreign Investment Projects: Good for Host Countries?

      Host governments have often sought some equity in mining and other foreign investment projects, but as shareholders they have rarely gained what they anticipated. Only in special cases might the benefits to governments outweigh the risks and often unanticipated costs governments encounter.

      Keywords: Foreign Direct Investment; Equity; Business and Government Relations;

      Citation:

      Wells, Louis T. "Government-held Equity in Foreign Investment Projects: Good for Host Countries?" Columbia FDI Perspectives, No. 114, Vale Columbia Center on Sustainable International Investment, February 2014.
    3. Infrastructure for Ore: Benefits and Costs of a Not-So-Original Idea

      Citation:

      Wells, Louis T., Jr. "Infrastructure for Ore: Benefits and Costs of a Not-So-Original Idea." Columbia FDI Perspectives, no. 96, June 2013.
    4. Art and Expatriates in Liberia

      Keywords: Arts; Demography; Liberia;

      Citation:

      Wells, Louis T. "Art and Expatriates in Liberia." Tribal Art 55, nos. 14:2 (spring 2011).
    5. Multinationals Make Money in the Third World

      Keywords: Business Ventures;

      Citation:

      Wells, Louis T. "Multinationals Make Money in the Third World." AIB Insights 10, no. 1 (2010): 12–15.
    6. Heart of Darkness: Business Tokens of the Congo (Part 1)

      Few numismatic fields are as unexplored as the tokens of what was once the Belgian Congo. Although the head (and “extra-wife”) tokens have been thoroughly cataloged, I have found only one very early and incomplete attempt, by Mahieu in the 1920s, to report other tokens from this vast territory. Most of the tokens in this article that have not been previously listed were obtained in markets in Kinshasa between 2000 and 2005. Given the poor communications and regional violence, tokens from the eastern and even central part of the Congo were unlikely to appear in this western-located city. Probably many more tokens were issued in association with the Congo's important mines and plantations. This “Part I” article should serve as a start for the development of a “Part II” with a more complete list and history of issuing companies. Until then, the tokens of the former Belgian Congo and its independent successor states remain largely in darkness.

      Keywords: Agribusiness; Mining; Currency; Labor; Congo, Democratic Republic of the;

      Citation:

      Wells, Louis T. "Heart of Darkness: Business Tokens of the Congo (Part 1)." TAMS Journal 48 (April 2008): 36–42.
    7. Private Power in Indonesia

      The Asian Currency Crisis led to the collapse of agreements Indonesia had negotiated for private electric power only a few years earlier. The ensuing struggle meant bad publicity and several hundred million dollars in costs for Indonesia. As Indonesia in 2007 was designing a new law that would pass the constitutional test and encourage private investors in electric power, it was not clear that officials had fully understood the lessons of the recent disputes. Problems lay less in the legal framework than in lack of information about deals elsewhere, the institutional structure for negotiations and renegotiations, and the personal interests of highly placed individuals. The resulting power purchase agreements had led to high prices for electricity, imbalances of risks and rewards, and an unwillingness of officials to use the most effective defenses when disputes arose. Learning from the past should help officials not to make similar mistakes in the future.

      Keywords: Energy Generation; Government Legislation; Knowledge Management; Knowledge Sharing; Risk Management; Agreements and Arrangements; Business and Government Relations; Indonesia;

      Citation:

      Wells, Louis T. "Private Power in Indonesia." Bulletin of Indonesian Economic Studies 43, no. 3 (December 2007): 341–364.
    8. Investor State Conciliation - A Comment

      Keywords: Investment;

      Citation:

      Wells, L. T., Jr. "Investor State Conciliation - A Comment." Transnational Dispute Management 2, no. 5 (November 2005).
    9. Protecting Foreign Investors in the Developing World: A Shift in U.S. Policy in the 1990s?

      Keywords: Governance; Global Range; Investment; Developing Countries and Economies;

      Citation:

      Wells, L. T., Jr. "Protecting Foreign Investors in the Developing World: A Shift in U.S. Policy in the 1990s?" Transnational Dispute Management 1, no. 3 (July 2004). (Published as "Protecting Foreign Investors in the Developing World: A Shift in U.S. Policy in the 1990s?" In International Business and Government Relations in the 21st Century: In Honor of Jack Behrman, edited by Robert Grosse. Cambridge: Cambridge University Press, 2005.)
    10. An Economist Questions the Arbitration Award to Karaha Bodas Company in Indonesia

      Keywords: Indonesia;

      Citation:

      Wells, Louis T. "An Economist Questions the Arbitration Award to Karaha Bodas Company in Indonesia." Oil, Gas & Energy Law 1, no. 2 (March 2003): 47 – 57.
    11. Double Dipping in Arbitration Awards? An Economist Questions Damages Awarded to Karaha Bodas Company in Indonesia

      Keywords: Economics; Law; Indonesia;

      Citation:

      Wells, L. T., Jr. "Double Dipping in Arbitration Awards? An Economist Questions Damages Awarded to Karaha Bodas Company in Indonesia." Arbitration International 19, no. 4 (2003): 471–481.
    12. Incentives and Institutions to Attract Foreign Direct Investment

      Keywords: Motivation and Incentives; Foreign Direct Investment;

      Citation:

      Wells, L. T., Jr. "Incentives and Institutions to Attract Foreign Direct Investment." Cai jing [Caijing Magazine] (November 20, 2002).
    13. Tokens of Faith: Mission Money in Africa

      Keywords: Africa;

      Citation:

      Wells, L. T., Jr. "Tokens of Faith: Mission Money in Africa." TAMS Journal (October 2000): 140–145.
    14. Government, Business, and Academia: Origins of Raymond Vernon's Understanding of Multinational Enterprise

      Keywords: Government and Politics; Business Ventures; Education; Global Range;

      Citation:

      Wells, Louis T., Jr. "Government, Business, and Academia: Origins of Raymond Vernon's Understanding of Multinational Enterprise." Journal of International Management 6, no. 4 (winter 2000): 279–295.
    15. Publications by Raymond Vernon

      Citation:

      Wells, L. T., Jr. "Publications by Raymond Vernon." Journal of International Management 6, no. 4 (winter 2000): 343–352. (Compiler.)
    16. Multinationals and the Developing Countries

      Keywords: Global Range;

      Citation:

      Wells, Louis T., Jr. "Multinationals and the Developing Countries." Journal of International Business Studies 29, no. 1 (March 1998): 101–114.
    17. Is Foreign Infrastructure Investment Still Risky?

      Keywords: Investment; Risk and Uncertainty; Global Range;

      Citation:

      Wells, L. T., Jr., and E. S. Gleason. "Is Foreign Infrastructure Investment Still Risky?" Harvard Business Review 73, no. 5 (September–October 1995): 44–55.
    18. Don't Stop with the One-stop Shop: Foreign Investment in a Liberalizing Third World

      Keywords: Investment; Global Range;

      Citation:

      Wells, Louis T., Jr, and A. Wint. "Don't Stop with the One-stop Shop: Foreign Investment in a Liberalizing Third World." International Executive 35, no. 5 (September–October 1993): 367–383.
    19. Changing Relationships in the Concessions Process

      Keywords: Change; Relationships; Negotiation;

      Citation:

      Wells, Louis T., Jr. "Changing Relationships in the Concessions Process." Transnational Corporations and the Exploitation of Natural Resources 57 (1993): 244–269.
    20. The Public-Private Choice: The Case of Marketing a Country to Investors

      Keywords: Decision Choices and Conditions; Marketing; Investment;

      Citation:

      Wells, Louis T., Jr, and A. Wint. "The Public-Private Choice: The Case of Marketing a Country to Investors." World Development 19, no. 7 (July 1991): 749–761.
    21. Supping with the Devil: Another Interpretation

      Citation:

      Wells, L. T., Jr. "Supping with the Devil: Another Interpretation." Liberal Education 75 (May/June 1989): 25–27.
    22. How Far Should Global Products Go?

      Keywords: Product;

      Citation:

      Wells, Louis T., Jr, and Sushil Vachani. "How Far Should Global Products Go?" Vikalpa 14, no. 2 (April–June 1989): 3–10.
    23. Como Mercadear un Pais

      Citation:

      Wells, Louis T., Jr, and A. Wint. "Como Mercadear un Pais." Revista-INCAE 3, no. 2 (Second Semester 1989): 55–63.
    24. Shape for Place: Herrings & Co. in the Netherlands East Indies

      Citation:

      Wells, L. T., Jr. "Shape for Place: Herrings & Co. in the Netherlands East Indies." TAMS Journal (October 1987): 172–176.
    25. Water, Bread, and Meat: Payment for Work in the Atacama Desert

      Keywords: Compensation and Benefits; South America;

      Citation:

      Wells, L. T., Jr. "Water, Bread, and Meat: Payment for Work in the Atacama Desert." TAMS Journal (October 1987): 119–120.
    26. Review of The Chinese Connection, by Michael A. Goldberg

      Keywords: China;

      Citation:

      Wells, Louis T., Jr. "Review of The Chinese Connection, by Michael A. Goldberg." Journal of International Business Studies (spring 1986): 163–164.
    27. Mog Hubcaps

      Citation:

      Wells, Louis T., Jr. "Mog Hubcaps." Morganeer, no. 3 (1985): 32–33.
    28. Sovereignty en Garde: Negotiating with Foreign Investors

      Keywords: Negotiation; Investment;

      Citation:

      Wells, L. T., Jr., and D. Encarnation. "Sovereignty en Garde: Negotiating with Foreign Investors." International Organization 39, no. 1 (winter 1985): 47–78. (Reprinted in Benjamin Gomes-Casseres and David B. Yoffie (eds.) The International Political Economy of Direct Foreign Investment. London: Edward Elgar Publishing Ltd., 1993.)
    29. Small Scale Manufacturing as a Competitive Advantage

      Keywords: Production;

      Citation:

      Wells, L. T., Jr. "Small Scale Manufacturing as a Competitive Advantage." A Decade of Debate on Multinational Corporations. Portfolio: International Economic Perspectives 10, no. 3 (1985). (Also in T.H. Moran (ed.) Multinational Corporations: The Political Economy of Foreign Direct Investment. Lexington: Lexington Books, 1985. pp. 119-136.)
    30. Exhibit Review of 'The Tribal Style: Selections from the African Collection of the Peabody Museum of Salem'

      Keywords: Arts; Information; Fine Arts Industry; Massachusetts;

      Citation:

      Wells, Louis T., Jr. "Exhibit Review of 'The Tribal Style: Selections from the African Collection of the Peabody Museum of Salem'." African Arts 17, no. 4 (August 1984): 79.
    31. Bargaining Power of Multinationals and Host Governments

      Keywords: Negotiation; Power and Influence; Government and Politics;

      Citation:

      Wells, L. T., Jr., and N. Fagre. "Bargaining Power of Multinationals and Host Governments." Journal of International Business Studies (fall 1982). (Reprinted in Philip Grub, Fariborz Ghadar, and Dara Khambata (eds.) The Multinational Enterprise in Transition, 2d ed. Princeton: The Darwin Press, 1984.)
    32. Exhibit Review of 'Polynesian Objects of Daily Use'

      Citation:

      Wells, Louis T., Jr. "Exhibit Review of 'Polynesian Objects of Daily Use'." African Arts (May 1982).
    33. Book Review of Renegotiations in International Business Transactions, edited by William S. Stoever

      Keywords: Negotiation; Business Ventures;

      Citation:

      Wells, Louis T., Jr. "Book Review of Renegotiations in International Business Transactions, edited by William S. Stoever." Harvard International Law Journal 22, no. 3 (fall 1981).
    34. Squatting Figures of Borneo

      Keywords: Indonesia;

      Citation:

      Wells, Louis T., Jr. "Squatting Figures of Borneo." Orientations (January–February 1980).
    35. Strategies of Multinational Firms: New Third World Multinationals

      Keywords: Strategy; Business Ventures; Global Range;

      Citation:

      Wells, L. T., Jr. "Strategies of Multinational Firms: New Third World Multinationals." Tatung Life (January 1, 1980). (in Chinese and English.)
    36. Third World Multinationals

      Keywords: Global Range;

      Citation:

      Wells, L. T., Jr. "Third World Multinationals." Multinational Business 1 (1980).
    37. Face to Face with African Sculpture

      Keywords: Arts; Africa;

      Citation:

      Wells, Louis T., Jr. "Face to Face with African Sculpture." Harvard Magazine (July–August 1979).
    38. Bargaining Tips: Advice From a Veteran

      Keywords: Negotiation; Information;

      Citation:

      Wells, Louis T., Jr. "Bargaining Tips: Advice From a Veteran." Worldpaper (April 1979).
    39. Developing Country Investors in Indonesia

      Keywords: Global Range; Investment; Indonesia;

      Citation:

      Wells, Louis T., Jr, and V'Ella Warren. "Developing Country Investors in Indonesia." Bulletin of Indonesian Economic Studies 15, no. 1 (March 1979).
    40. Book Review of Foreign Investment and Development in the Southwest Pacific: With Special Reference to Australia and Indonesia, edited by David William Carr

      Keywords: Foreign Direct Investment; Growth and Development; Australia; Indonesia;

    41. How Foreign Businesses Decide to Invest in Massachusetts

      Keywords: Business Ventures; Investment; Massachusetts;

      Citation:

      Wells, L. T., Jr. "How Foreign Businesses Decide to Invest in Massachusetts." Massworld: Commonwealth of Massachusetts Quarterly Report on Foreign Business Activity (June 1978).
    42. Foreign Investment from the Third World: The Experience of Chinese Firms from Hong Kong

      Keywords: Foreign Direct Investment; Global Range; Learning; Hong Kong;

      Citation:

      Wells, L. T., Jr. "Foreign Investment from the Third World: The Experience of Chinese Firms from Hong Kong." Columbia Journal of World Business (spring 1978): 39–49. (Also reprinted in Henry Wai-Chung Yeung (ed.), The Globalization of Business Firms from Emerging Markets. Cheltenham, U.K.: Edward Elgar, 2000.)
    43. La Internacionalizacion de Firmas de los Paises en Desarrollo

      Citation:

      Wells, Louis T., Jr. "La Internacionalizacion de Firmas de los Paises en Desarrollo." Integración latinoamericana 2, no. 14 (June 1977).
    44. Exhibit Review of 'The Sculptor's Eye'

      Keywords: Information; Arts;

      Citation:

      Wells, Louis T., Jr. "Exhibit Review of 'The Sculptor's Eye'." African Arts 10, no. 5 (April 1977).
    45. The Harley Masks of Northeast Liberia

      Keywords: Arts; Liberia;

      Citation:

      Wells, Louis T., Jr. "The Harley Masks of Northeast Liberia." African Arts 10, no. 2 (January 1977).
    46. Negotiating with Third World Governments

      Keywords: Negotiation; Global Range; Government and Politics;

      Citation:

      Wells, L. T., Jr. "Negotiating with Third World Governments." Harvard Business Review 55, no. 1 (January–February 1977). (Abridged version in AMA Marketing News, June 1977. Also reprinted in Douglas N. Dickson (ed.) Managing Effectively in the World Marketplace. New York: John WIley & Sons, 1983.)
    47. Conflict Avoidance in Concession Agreements

      Keywords: Conflict and Resolution; Agreements and Arrangements;

      Citation:

      Wells, L. T., Jr., and David N. Smith. "Conflict Avoidance in Concession Agreements." Harvard International Law Journal 17, no. 1 (winter 1976). (Also reprinted in Robert Hellawell and Don Wallace (eds.) Negotiating Foreign Investments: A Manual for the Third World. Washington International Law Institute, 1982.)
    48. Mineral Agreements in Developing Countries: Structures and Substance

      Keywords: Metals and Minerals; Global Range; Agreements and Arrangements;

      Citation:

      Wells, Louis T., Jr, and David Smith. "Mineral Agreements in Developing Countries: Structures and Substance." American Journal of International Law 69, no. 3 (July 1975).
    49. Social Cost/Benefit Analysis for MNC's

      Keywords: Cost; Society;

      Citation:

      Wells, L. T., Jr. "Social Cost/Benefit Analysis for MNC's." Harvard Business Review 53, no. 2 (March–April 1975). (Also reprinted in Frederick D.S. Choi, Essentials of Multinational Accounting: An Anthology. UMI, 1979; and Douglas N. Dickson (ed.) Managing Effectively in the World Marketplace. New York: John Wiley & Sons, 1983.)
    50. International Trade: The Product Life Cycle Approach

      Keywords: Global Range; Trade; Product;

      Citation:

      Wells, Louis T., Jr. "International Trade: The Product Life Cycle Approach." Ritsumeikan keieigaku [Ritsumeikan Business Review] 13, no. 2 (July 1974). (in Japanese.)
    51. Don't Overautomate Your Foreign Plant

      Citation:

      Wells, L. T., Jr. "Don't Overautomate Your Foreign Plant." Harvard Business Review 52, no. 1 (January–February 1974). (Also reprinted in Douglas N. Dickson (ed.) Managing Effectively in the World Marketplace. New York: John Wiley & Sons, 1983.)
    52. Men and Machines in Indonesia's Light Manufacturing Industry

      Keywords: Production; Machinery and Machining; Manufacturing Industry; Indonesia;

      Citation:

      Wells, Louis T., Jr. "Men and Machines in Indonesia's Light Manufacturing Industry." Bulletin of Indonesian Economic Studies 9, no. 3 (November 1973).
    53. Joint Venture Partners - Successful Handshake or Painful Headache?

      Keywords: Joint Ventures; Partners and Partnerships; Success;

      Citation:

      Wells, Louis T., Jr. "Joint Venture Partners - Successful Handshake or Painful Headache?" European Business, no. 38 (summer 1973).
    54. Ironing Out the New Relationships

      Keywords: Relationships;

      Citation:

      Wells, Louis T., Jr, and J. M. Stopford. "Ironing Out the New Relationships." Worldwide P & I Planning 6, no. 3 (May–June 1972): 32–37.
    55. Book Review of Comparative Marketing Systems: A Cultural Approach, edited by Montrose S. Sommers and Jerome B. Kernan

      Keywords: Marketing; System; Culture;

      Citation:

      Wells, Louis T., Jr. "Book Review of Comparative Marketing Systems: A Cultural Approach, edited by Montrose S. Sommers and Jerome B. Kernan." Journal of Common Market Studies (September 1971).
    56. Book Review of International Big Business, 1957-67: A Study of Comparative Growth, edited by Robert Rowthorn and Stephen Hymer

      Keywords: Business History; Growth and Development;

    57. Test of a Product Cycle Model of International Trade: U.S. Exports of Consumer Durables

      Keywords: Global Range; Trade; Product; Goods and Commodities; United States;

      Citation:

      Wells, Louis T., Jr. "Test of a Product Cycle Model of International Trade: U.S. Exports of Consumer Durables." Quarterly Journal of Economics 83, no. 1 (February 1969): 152–62. (Also reprinted in Wells, The Product Life Cycle and International Trade.)
    58. Comments on the 'Longer Run Pressures of U.S. Manufacturing Subsidiaries in Europe

      Keywords: Production; Business Subsidiaries; United States; Europe;

      Citation:

      Wells, Louis T., Jr. "Comments on the 'Longer Run Pressures of U.S. Manufacturing Subsidiaries in Europe." Southern Journal of Business (July 1967).

    Book Chapters

    1. Japanese Multinationals in Foreign Disputes: Do They Behave Differently and Does It Matter for Host Countries?

      Citation:

      Wells, L. T., Jr., and Chieko Tsuchiya. "Japanese Multinationals in Foreign Disputes: Do They Behave Differently and Does It Matter for Host Countries?" In The Yearbook on International Investment Law and Policy 2010/2011, edited by Karl P. Sauvant. New York: Oxford University Press, 2011. (Also published on http://www.investmentclaims.com and in also published in special issue: Resolving International Business Disputes by ADR in Asia, Transnational Dispute Management 5 (2011))
    2. Preface

      Citation:

      Wells, L. T., Jr. "Preface." Preface to The Evolving International Investment Regime: Expectations, Realities, Options, edited by Jose E. Alvarez and Karl P. Sauvant. New York: Oxford University Press, 2011.
    3. Property Rights for Foreign Capital: Sovereign Debt and Private Direct Investment in Times of Crisis

      Keywords: Property; Rights; International Finance; Capital; Sovereign Finance; Foreign Direct Investment; Financial Crisis;

      Citation:

      Wells, Louis T. "Property Rights for Foreign Capital: Sovereign Debt and Private Direct Investment in Times of Crisis." Chap. 12 in The Yearbook on International Investment Law and Policy 2009-2010, edited by Karl Sauvant, 477–504. New York: Oxford University Press, 2010.
    4. 'Urgency and Betrayal: Three Attempts to Foster Private Investment in Argentina's Oil Industry,' by Nicolas Gadano

      Keywords: Investment; Private Sector; Government and Politics; Governing Rules, Regulations, and Reforms; Business and Government Relations; Non-Renewable Energy; Energy Industry; Argentina;

      Citation:

      Wells, Louis T. Comment on "'Urgency and Betrayal: Three Attempts to Foster Private Investment in Argentina's Oil Industry,' by Nicolas Gadano." The Natural Resources Trap: Private Investment without Public Commitment, edited by William Hogan and Federico Sturzenegger, 405–407. Cambridge, MA: MIT Press, 2010.
    5. Backlash to Arbitration: Three Causes

      There are at least three reasons for the current backlash among developing countries against the international regime that governs disputes between foreign investors and host governments. First is the inconsistency of the decisions rendered by arbitration panels established under bilateral investment treaties, investment provisions of regional trade agreements, clauses in investment contracts, and, occasionally, provisions of host countries' investment laws. Second, and perhaps most important, is the very rigid view of contracts that panels have tended to take, even when a host country acts as a result of an economic crisis. A third cause of backlash is closely related to the second: the seeming insensitivity of arbitration panels to signals that corruption or incompetency might have been involved in the original negotiations or subsequent renegotiations of agreements that gave rise to disputes. There are other reasons for reaction, but they pose less threat to the existing system.

      Although the ideal solution would be a multilateral agreement, past efforts to conclude one suggest that reaching agreement is unlikely in the near future. Building an appellate process, providing for symmetry in access to arbitration, and mid-point guidance might go some distance toward reducing the backlash.

      Keywords: Developing Countries and Economies; International Finance; Foreign Direct Investment; Agreements and Arrangements; Business and Government Relations; Conflict Management;

      Citation:

      Wells, Louis T. "Backlash to Arbitration: Three Causes." Chap. 14 in The Backlash Against Investment Arbitration: Perceptions and Reality, edited by Michael Waibel, Asha Kaushal, Kyo-Hwa Chung, and Claire Balchin, 341–352. Alphen aan den Rijn, Netherlands: Kluwer Law International, 2010.
    6. Property Rights for Foreign Capital: Sovereign Debt and Private Direct Investment in Times of Crisis

      Keywords: Property; Rights; International Finance; Capital; Sovereign Finance; Foreign Direct Investment; Financial Crisis;

      Citation:

      Wells, Louis T. "Property Rights for Foreign Capital: Sovereign Debt and Private Direct Investment in Times of Crisis." In The Yearbook on International Investment Law and Policy 2008/2009, edited by Karl P. Sauvant. New York: Oxford University Press, 2009.
    7. Third World Multinationals: A Look Back

      Keywords: Business History; Multinational Firms and Management; Africa; Asia; Latin America; Oceania; West Indies;

      Citation:

      Wells, L. T., Jr. "Third World Multinationals: A Look Back." Chap. 2 in Emerging Multinationals in Emerging Markets, edited by Jitendra V. Singh and Ravi Ramamurti. New York: Cambridge University Press, 2009.
    8. The New International Property Rights: Can the Foreign Investor Rely on Them?

      Keywords: Property; Rights; Foreign Direct Investment; Trust;

      Citation:

      Wells, L. T., Jr. "The New International Property Rights: Can the Foreign Investor Rely on Them?" In International Political Risk Management: Looking to the Future. Vol. III, edited by Theodore H. Moran and Gerald T. West. Washington, D.C.: World Bank, 2005.
    9. Managing the Multinational Enterprise

      Keywords: Multinational Firms and Management;

      Citation:

      Wells, L. T., Jr., and John M. Stopford. "Managing the Multinational Enterprise." In International Business, edited by Peter Buckley.The History of Management Thought. Aldershot, U.K.: Ashgate Publishing, 2003. (Originally published as chapter 2 of John M. Stopford and L.T. Wells, Managing the Multinational Enterprise. New York: Basic Books, 1972.)
    10. Multinationals and the Developing Countries

      Keywords: Multinational Firms and Management; Developing Countries and Economies;

      Citation:

      Wells, L. T., Jr. "Multinationals and the Developing Countries." In The New Economic Analysis of Multinationals, edited by Thomas Brewer, Stephen Guisinger, and Stephen Young. Northampton, U.K.: Edward Elgar Publishing, 2003. (Originally published in Journal of International Business Studies 29, no. 1, pp. 101-114.)
    11. God and Fair Competition: Does the Foreign Direct Investor Face Still Other Risks in Emerging Markets

      Keywords: Foreign Direct Investment; Fairness; Competition; Emerging Markets;

      Citation:

      Wells, L. T., Jr., and T. Moran. "God and Fair Competition: Does the Foreign Direct Investor Face Still Other Risks in Emerging Markets." In Managing International Political Risk, edited by Theodore Moran. Oxford: Blackwell Publishers, 1998.
    12. Marketing a Region for Trade and Investment

      Keywords: Globalized Economies and Regions; Marketing; Trade; Investment;

      Citation:

      Wells, L. T., Jr. "Marketing a Region for Trade and Investment." In Africa and the American Private Sector: Corporate Perspectives on a Growing Relationship, pp. 77–88. Washington, D.C.: Corporate Council on Africa, 1997.
    13. Antagonism or Equanimity: U.S. Multinationals and Regional Trading Blocs

      Keywords: Multinational Firms and Management; Globalized Economies and Regions; Trade;

      Citation:

      Wells, L. T., Jr. "Antagonism or Equanimity: U.S. Multinationals and Regional Trading Blocs." In The World Economy: Challenges of Globalization and Regionalization, edited by Marjan Svetlicic and H. W. Singer, pp. 165–186. London: Macmillan Press, 1996.
    14. Foreign Direct Investment

      Keywords: Foreign Direct Investment;

      Citation:

      Wells, L. T., Jr. "Foreign Direct Investment." In Asia and Africa: Legacies and Opportunities, edited by D. L. Lindauer and M. Roemer. San Francisco: ICS Press, 1994.
    15. Foreign Investment

      Keywords: Foreign Direct Investment;

      Citation:

      Wells, L. T., Jr. "Foreign Investment." In Asia and Africa: Legacies and Opportunities, edited by D. L. Lindauer and M. Roemer. San Francisco: ICS Press, 1994.
    16. Promoting Foreign Investment: Opportunities and Pitfalls for Host Countries

      Keywords: Foreign Direct Investment; International Finance; Globalized Economies and Regions;

      Citation:

      Wells, L. T., Jr. "Promoting Foreign Investment: Opportunities and Pitfalls for Host Countries." In Promoting Foreign Direct Investment in Developing Countries, 43–53. Paris: Organisation for Economic Co-operation and Development (OECD), 1993.
    17. Marketing Strategies to Attract Foreign Investment

      Keywords: Marketing Strategy; Foreign Direct Investment; Globalized Economies and Regions; Trade;

      Citation:

      Wells, L. T., Jr. "Marketing Strategies to Attract Foreign Investment." In Multinationals in the Global Political Economy, edited by L. Eden and E. Potter, pp. 168–186. New York: St. Martin's Press, 1993.
    18. Mobile Exporters: New Foreign Investors in East Asia

      Keywords: Foreign Direct Investment; Trade; Asia;

      Citation:

      Wells, L. T., Jr. "Mobile Exporters: New Foreign Investors in East Asia." In Foreign Direct Investment, edited by K. Froot, 173–91. Chicago: University of Chicago Press, 1993.
    19. Minerals: Eroding Oligopolies

      Keywords: Metals and Minerals; Duopoly and Oligopoly; Mining Industry;

      Citation:

      Wells, L. T., Jr. "Minerals: Eroding Oligopolies." In Beyond Free Trade: Firms, Governments, and Global Competition, edited by D. B. Yoffie, 335–84. Boston, MA: Harvard Business School Press, 1993.
    20. Motivations for Foreign Investment

      Keywords: Foreign Direct Investment; Motivation and Incentives;

      Citation:

      Wells, L. T., Jr. "Motivations for Foreign Investment." In The International Political Economy of Direct Foreign Investment. 2 vols. Edited by B. Gomes-Casseres and D. B. Yoffie. London, England: Edward Elgar Publishing, 1993. (This is adapted from Third World Multinationals: The Rise of Foreign Investment from Developing Countries, pp. 67-89.)
    21. Foreign Investment in Southeast and East Asia: Lessons for Ghana

      Keywords: Foreign Direct Investment; Trade; Ghana; Asia;

      Citation:

      Wells, L. T., Jr. "Foreign Investment in Southeast and East Asia: Lessons for Ghana." In Ghana's Development: Strategic Lessons from Asia, edited by Richard H. Goldman, Michael Roemer, Donald R. Snodgrass, and L. T. Wells Jr..Development Discussion Paper. Cambridge: Harvard Institute for International Development, 1992. (Also published as CAER Discussion Paper No. 11, March 1992. Also in Journal of Ghanaian Economic Society (1995))
    22. A Modo de Resumen

      Citation:

      Wells, L. T., Jr. "A Modo de Resumen." In Exporter: UN Gran Desafio Para Chile, edited by Carlos F. Caceres, Felipe P. Larrain, and Gregory C. Nicalaidis, 349–59. Santiago: Editorial Universitaria, 1988.
    23. Effects of Foreign Investment

      Keywords: Foreign Direct Investment;

      Citation:

      Wells, L. T., Jr. "Effects of Foreign Investment." In The Role of the Private Sector in Fostering/Responding to Global Structural Change, edited by Andrew R. Blair and Josephine E. Olson, 21–31. Pittsburgh: University of Pittsburgh, 1988.
    24. Evaluating Foreign Investment with Special Reference to Southeast Asia

      Keywords: Foreign Direct Investment; Performance Evaluation; Developing Countries and Economies; Asia;

      Citation:

      Wells, L. T., Jr. "Evaluating Foreign Investment with Special Reference to Southeast Asia." In Direct Foreign Investment: Costs and Benefits, edited by Richard D. Robinson. New York: Greenwood Press, 1987. (Also in Chinese Academy of Social Science paper series (in Chinese) and reprinted in T. H. Moran (ed.), Governments and Transnational Corporations (London and New York: Rutledge, 1993), pp. 285-308.)
    25. Government Relations in the Global Firm

      Keywords: Globalized Firms and Management; Business and Government Relations;

      Citation:

      Wells, L. T., Jr., and Amir Mahini. "Government Relations in the Global Firm." In Competition in Global Industries, edited by M. E. Porter. Boston, MA: Harvard Business School Press, 1986. (Also in Competizione Globale, published by Isvor-Fiat, Turin, Italy, 1987.)
    26. Evaluating Foreign Investment

      Keywords: Foreign Direct Investment; Performance Evaluation;

      Citation:

      Wells, L. T., Jr., and Dennis J Encarnation. "Evaluating Foreign Investment." In Investing in Development: New Roles for Private Capital, edited by T. H. Moran, pp.61–86. Washington, D.C.: Transaction Books, 1986. (Also reprinted in Fariborz Ghador (ed.), Multinational Enterprise in Transition (Princeton, N.J: The Darwin Press, Inc., 1986), pp. 347-372.)
    27. New and Old Multinationals: Competitors or Partners?

      Keywords: Multinational Firms and Management; Competition; Partners and Partnerships;

      Citation:

      Wells, L. T., Jr. "New and Old Multinationals: Competitors or Partners?" In Multinationals of the South: New Actors in the International Economy, edited by Kushi M. Khan. London: Pinter Publishers, 1986. (Reprinted in Technology Development and Overseas Investment (Taipei: Macagno, Webb, & Associates, 1988), pp. 71-84.)
    28. Multinationals from Asian Developing Countries

      Keywords: Multinational Firms and Management; Developing Countries and Economies; Asia;

      Citation:

      Wells, L. T., Jr. "Multinationals from Asian Developing Countries." In Research in International Business and Finance. 4 (Part A), edited by Richard W. Moxon, Thomas Roehl, and J. Frederick Truitt. Greenwich, CT: JAI Press, 1984.
    29. International Trade: The Product Life Cycle Approach

      Keywords: Product; Trade;

      Citation:

      Wells, L. T., Jr. "International Trade: The Product Life Cycle Approach." In International Business: Issues and Concepts, edited by Reed Moyer. New York: John Wiley & Sons, 1984. (Reprint from The Product Life Cycle and International Trade.)
    30. Foreign Investors from the Third World

      Keywords: Foreign Direct Investment; Developing Countries and Economies;

      Citation:

      Wells, L. T., Jr. "Foreign Investors from the Third World." In Multinationals from Developing Countries, edited by Krishna Kumar and Maxwell McLeod. Lexington, MA: D.C. Heath and Company, 1981.
    31. Negotiating and Implementing Mineral Agreements with Multinationals: Some Critical Tax Development Issues

      Keywords: Agreements and Arrangements; Metals and Minerals; Mining; Multinational Firms and Management; Globalized Markets and Industries; Taxation; Mining Industry;

      Citation:

      Wells, L. T., Jr., and Malcolm Gillis. "Negotiating and Implementing Mineral Agreements with Multinationals: Some Critical Tax Development Issues." In Tax and Investment Policies for Hard Minerals: Public and Multinational Enterprises in Indonesia, by Malcolm Gillis, Ralph Beals, Glenn Jenkins, L. T. Wells Jr., and Ulrich Peterson. MA: Ballinger Publishing Company, 1980.
    32. The International Product Life Cycle and United States Regulation of the Automobile Industry

      Keywords: History; Government and Politics; Globalized Markets and Industries; Business and Government Relations; Auto Industry; United States;

      Citation:

      Wells, L. T., Jr. "The International Product Life Cycle and United States Regulation of the Automobile Industry." In Government, Technology, and the Future of the Automobile, edited by William H. Abernathy and Douglas H. Ginsburg. New York: McGraw-Hill, 1980.
    33. Comparative Mining Taxes

      Keywords: Mining; Taxation; Mining Industry;

      Citation:

      Wells, Louis T., Meyer Bucovetsky, and Malcolm Gillis. "Comparative Mining Taxes." Chap. 5 in Taxation and Mining: Non-fuel Minerals in Bolivia and Other Countries, edited by Malcolm Gillis. Cambridge, MA: Ballinger Publishing Company, 1978.
    34. Evaluation of the Present System of Mining Taxation

      Keywords: Mining; Taxation; Performance Evaluation; Mining Industry;

      Citation:

      Gillis, Malcolm, Louis T. Wells, and Brian Wright. "Evaluation of the Present System of Mining Taxation." Chap. 7 in Taxation and Mining: Non-fuel Minerals in Bolivia and Other Countries, edited by Malcolm Gillis. Cambridge, MA: Ballinger Publishing Company, 1978.
    35. Issues and Policies Related to Mining Tax Reform

      Keywords: Mining; Taxation; Governing Rules, Regulations, and Reforms; Policy; Mining Industry;

      Citation:

      Gillis, Malcolm, Louis T. Wells, and Ulrich Petersen. "Issues and Policies Related to Mining Tax Reform." Chap. 9 in Taxation and Mining: Non-fuel Minerals in Bolivia and Other Countries, edited by Malcolm Gillis. Cambridge, MA: Ballinger Publishing Company, 1978.
    36. Alternatives for Mineral Tax Reform

      Keywords: Metals and Minerals; Taxation; Governing Rules, Regulations, and Reforms; Mining Industry;

      Citation:

      Gillis, Malcolm, Louis T. Wells, Glenn Jenkins, and Brian Wright. "Alternatives for Mineral Tax Reform." Chap. 8 in Taxation and Mining: Non-fuel Minerals in Bolivia and Other Countries, edited by Malcolm Gillis. Cambridge, MA: Ballinger Publishing Company, 1978.
    37. The Internationalization of Firms from Developing Countries

      Keywords: Developing Countries and Economies; Globalized Firms and Management; Globalized Economies and Regions;

      Citation:

      Wells, L. T., Jr. "The Internationalization of Firms from Developing Countries." In Multinationals from Small Countries, edited by Tamir Agmon and Charles P. Kindleberger. Cambridge, MA: MIT Press, 1977.
    38. More or Less Poverty? The Economic Effects of the MNE at Home and in the LDC's

      Keywords: Poverty; Developing Countries and Economies; Multinational Firms and Management; Globalized Economies and Regions;

      Citation:

      Wells, L. T., Jr. "More or Less Poverty? The Economic Effects of the MNE at Home and in the LDC's." In The Case for the Multinational Corporation: Six Scholarly Views, edited by Carl H. Madden. New York: Praeger, 1976.
    39. Automobiles

      Keywords: Machinery and Machining; Auto Industry;

      Citation:

      Wells, L. T., Jr. "Automobiles." In Big Business and the State: Changing Relations in Western Europe, edited by R. Vernon. Cambridge: Harvard University Press, 1974.
    40. National Policies in an International Industry: The Europeans and Automobiles

      Keywords: Globalized Markets and Industries; Policy; Government and Politics; Business and Government Relations; Auto Industry; Europe;

      Citation:

      Wells, Louis T., Jr. "National Policies in an International Industry: The Europeans and Automobiles." In Bedrifter I Okende Internasjonal Kon-Kurranse. Bergen: Norges Handelshøyskole Kursvirksomhet, 1973.
    41. Effects of Foreign Joint Ventures on Developing Countries

      Keywords: Developing Countries and Economies; Joint Ventures;

      Citation:

      Wells, L. T., Jr. "Effects of Foreign Joint Ventures on Developing Countries." In Micro Aspects of Development, edited by Eliezer B. Ayal. New York: Praeger, 1973.

    Working Papers

    1. Technology and Third World Multinationals

      Citation:

      Wells, L. T., Jr. "Technology and Third World Multinationals." Multinational Enterprises Programme Working Paper, No. 19, January 1982.

    Cases and Teaching Materials

    1. Caselets: Bribery and Extortion in International Business and Caselets (Abridged)(TN)

      Teaching Note for 700-055 and 707-052.

      Citation:

      Wells, Louis T. "Caselets: Bribery and Extortion in International Business and Caselets (Abridged)(TN)." Harvard Business School Teaching Note 712-017, September 2011.
    2. Caselets: Bribery and Extortion in International Business

      "Caselets" present several examples of decisions involving bribery or take other actions that could be considered as corrupt.

      Keywords: Crime and Corruption; Decisions; Trade;

      Citation:

      Wells, Louis T., Jr. "Caselets: Bribery and Extortion in International Business." Harvard Business School Case 700-055, September 1999. (Revised September 2011.)
    3. Caselets: Bribery and Extortion in International Business (Abridged)

      "Caselets" present several examples of decisions involving bribery or take other actions that could be considered as corrupt.

      Keywords: Crime and Corruption; Globalized Firms and Management;

      Citation:

      Wells, Louis T., Jr. "Caselets: Bribery and Extortion in International Business (Abridged)." Harvard Business School Case 707-052, June 2007. (Revised September 2011.)
    4. Japan: The Miracle Years (TN)

      Teaching Note for 702-014.

      Keywords: Growth and Development; Policy; Performance; Economic Growth; Governance Controls; Japan;

      Citation:

      Wells, Louis T. "Japan: The Miracle Years (TN)." Harvard Business School Teaching Note 712-007, September 2011.
    5. Aguas Argentinas: Settling a Dispute (TN)

      Teaching Note for 705-019.

      Keywords: Business and Government Relations; Negotiation; Contracts; Rights; Strategy; Utilities Industry; Argentina; France;

      Citation:

      Wells, Louis T. "Aguas Argentinas: Settling a Dispute (TN)." Harvard Business School Teaching Note 712-018, September 2011.
    6. Protecting Foreign Investors

      Describes the emergence of several kinds of efforts to assure the safety of foreign investment in emerging markets: international arbitration, expanded official political risk insurance, credit from government agencies, and intervention by investors' home governments. Points out the roles of bilateral investment treaties and regional economic agreements in making arbitration accessible to an increasing number of foreign investors. Views the various arrangements as substitutes for a global agreement on foreign direct investment that would parallel the WTO for trade given that attempts to negotiate a comprehensive arrangement have so far failed. Also, presents several criticisms of the current system.

      Keywords: Foreign Direct Investment; Risk Management; Emerging Markets; Agreements and Arrangements; Business and Government Relations; Safety;

      Citation:

      Wells, Louis T., Jr. "Protecting Foreign Investors." Harvard Business School Background Note 706-044, March 2006. (Revised November 2010.)
    7. Japan: The Miracle Years

      Japan experienced rapid growth in the 1950s and 1960s while following a set of policies that differ from current policies in fashion. Although some observers believe that Japanese growth occurred in spite of the policies rather than because of them, several countries have looked to Japan's approach during this period as a way to accelerate their own growth. This case provides data on performance and describes the important institutions, policies, and control tools that were used in Japan. A rewritten version of two earlier cases.

      Keywords: History; Policy; Economic Growth; Business and Government Relations; Growth and Development Strategy; Japan;

      Citation:

      Wells, Louis T., Jr. "Japan: The Miracle Years." Harvard Business School Case 702-014, October 2001. (Revised February 2010.)
    8. Aguas Argentinas: Settling a Dispute

      The French-owned Aguas Argentinas faces a demand from the Argentine government that it renegotiate its concession to operate the Buenos Aires water and sewage services. The company must decide whether to continue with efforts to settle on a new contract or to exercise its rights to go to international arbitration. Either way, it must decide on its strategy going forward.

      Keywords: Foreign Direct Investment; Contracts; Infrastructure; Privatization; Business and Government Relations; Conflict and Resolution; Business Strategy; Utilities Industry; France; Buenos Aires;

      Citation:

      Wells, Louis T., Jr., and Alexandra de Royere. "Aguas Argentinas: Settling a Dispute." Harvard Business School Case 705-019, March 2005. (Revised August 2007.)
    9. Herbert Hoover (A)

      Presents a character sketch of Herbert Hoover, along with Hoover's views on the cause of the Great Depression of the 1930s. Illustrates the political economy of the period and presents different interpretations of the course of the Great Depression. A rewritten version of an earlier case.

      Keywords: Economy; Financial Crisis; Government and Politics; Identity; Perspective;

      Citation:

      Wells, Louis T., Jr. "Herbert Hoover (A)." Harvard Business School Case 798-041, November 1997. (Revised June 2006.)
    10. Arbitration between Foreign Investors and Host Governments

      Explains the emergence of international arbitration as an option for foreign investors with disputes with governments of emerging markets. Presents issues about whether arbitration will remain acceptable to countries and governments.

      Keywords: Conflict and Resolution; Foreign Direct Investment; Globalized Markets and Industries; Emerging Markets; Government and Politics;

      Citation:

      Wells, Louis T., Jr., and Regina Garcia-Cuellar. "Arbitration between Foreign Investors and Host Governments." Harvard Business School Background Note 705-035, March 2005. (Revised June 2005.)
    11. Reading the Balance of Payments

      Describes the construction of the balance of payments and defines frequently used measures taken from the balance of payments.

      Keywords: International Finance; Accounting;

      Citation:

      Wells, Louis T., Jr. "Reading the Balance of Payments." Harvard Business School Background Note 705-025, January 2005. (Revised June 2005.)
    12. Incidents in Trade Policy

      Discusses a series of incidents of conflict between the United States and foreign governments on trade.

      Keywords: Trade; Policy; Agreements and Arrangements; Conflict and Resolution; Globalization; Government and Politics; United States;

      Citation:

      Wells, Louis T., Jr., and Courtenay Sprague. "Incidents in Trade Policy." Harvard Business School Case 796-140, March 1996. (Revised January 2001.)
    13. World Trade Organization, The: After the Seattle Protests

      Representatives of the World Trade Organization (WTO) met in Seattle to plan the next round of trade negotiations, only to face protestors and fail to reach agreement on an agenda. This case discusses the evolution of the WTO, its rules, and some of the controversy surrounding it.

      Keywords: Trade; Governing Rules, Regulations, and Reforms; Agreements and Arrangements; Failure; Northwestern United States;

      Citation:

      Wells, Louis T., Jr. "World Trade Organization, The: After the Seattle Protests." Harvard Business School Case 700-132, May 2000. (Revised July 2000.)
    14. Bretton Woods System of Exchange Rates, The

      Describes the exchange rate system adopted at Bretton Woods in 1994.

      Keywords: Trade; Currency Exchange Rate; Government and Politics; Adoption; System;

      Citation:

      Wells, Louis T., Jr. "Bretton Woods System of Exchange Rates, The." Harvard Business School Background Note 797-093, March 1997. (Revised May 2000.)
    15. Indonesia (A)

      Keywords: Indonesia;

      Citation:

      Vietor, Richard H.K., Louis T. Wells Jr., Neil Gelfand, and Mark Hildebrand. "Indonesia (A)." Harvard Business School Case 796-125, February 1996. (Revised November 1999.)
    16. Dow Indonesia (A) (Abridged), (B1), and (B2), Teaching Note

      Citation:

      Wells, Louis T., Jr. "Dow Indonesia (A) (Abridged), (B1), and (B2), Teaching Note." Harvard Business School Teaching Note 799-059, December 1998.
    17. Note on the Balance of Payments

      Describes the construction of the balance of payments and defines frequently used measures taken from the balance of payments.

      Keywords: Financial Statements; International Finance;

      Citation:

      Wells, Louis T., Jr. "Note on the Balance of Payments." Harvard Business School Background Note 797-091, January 1997. (Revised December 1998.)
    18. Data Supplement The Tax Cut of 1964

      Supplements Tax Cut of 1964.

      Citation:

      Moss, David A., Louis T. Wells Jr., and Courtenay Sprague. "Data Supplement The Tax Cut of 1964." Harvard Business School Supplement 798-045, December 1997.
    19. Background and Agreements on Foreign Direct Investment

      A brief history of foreign direct investment (FDI) is explored, emphasizing conflicts, developments in the legal framework governing FDI, and international agreements and nonbinding principles formulated to resolve disputes brought in by FDI. Propositions provide a context from which core issues may be discussed by the students.

      Keywords: Foreign Direct Investment; Agreements and Arrangements; Conflict Management;

      Citation:

      Wells, Louis T., Jr., and Courtenay Sprague. "Background and Agreements on Foreign Direct Investment." Harvard Business School Case 796-148, April 1996. (Revised November 1997.)
    20. Herbert Hoover (B)

      Presents a character sketch of Herbert Hoover, along with Hoover's views on the cause of the Great Depression of the 1930s. Illustrates the political economy of the period and presents different interpretations of the course of the Great Depression. A rewritten version of an earlier case.

      Keywords: Economic Slowdown and Stagnation; Financial Crisis; Government and Politics; Personal Characteristics;

      Citation:

      Wells, Louis T., Jr. "Herbert Hoover (B)." Harvard Business School Case 798-042, November 1997.
    21. Inauguration of Franklin D. Roosevelt

      Citation:

      Wells, Louis T., Jr., and Daniel Pope. "Inauguration of Franklin D. Roosevelt." Harvard Business School Background Note 798-051, November 1997.
    22. Incidents in Foreign Direct Investment

      Presents seven examples (i.e., incidents) of conflict concerning foreign direct investment. The incidents lay the framework for discussion of issues such as the jurisdiction of the WTO and the U.S. position, the Helms-Burton Act of 1996 and its political implications, and campaign contributions from foreign corporations backing U.S. Democrats--and the controversy therein.

      Keywords: Trade; International Finance; Foreign Direct Investment; Laws and Statutes; United States;

      Citation:

      Wells, Louis T., Jr., and Courtenay Sprague. "Incidents in Foreign Direct Investment." Harvard Business School Case 797-111, March 1997. (Revised November 1997.)
    23. Enron Development Corporation: The Dabhol Power Project in Maharashtra, India (A) (Abridged)

      A large, lucrative power plant is negotiated for construction/operation by an American power company in India's evolving privatized power sector. The process of incorporating the project is captured in this case. The American company will own and operate the plant in India, which will sell power to India.

      Keywords: Factories, Labs, and Plants; Transition; Energy Generation; Construction; Cross-Cultural and Cross-Border Issues; Emerging Markets; Negotiation Process; Production; Privatization; Energy Industry;

      Citation:

      Wells, Louis T., Jr. "Enron Development Corporation: The Dabhol Power Project in Maharashtra, India (A) (Abridged)." Harvard Business School Case 797-085, February 1997.
    24. Enron Development Corp.: The Dabhol Power Project in Maharashtra, India (B) (Abridged)

      A new administration takes power in a state in India and cancels a power project agreed upon by the previous state government and a U.S.-based energy company. The project cancellation is based on allegations of irregularities, exorbitant costs, and political pressures.

      Keywords: Energy Generation; Fairness; Cost; Cross-Cultural and Cross-Border Issues; Policy; Government and Politics; Contracts; Market Entry and Exit; Negotiation Process; Conflict Management; Energy Industry;

      Citation:

      Wells, Louis T., Jr. "Enron Development Corp.: The Dabhol Power Project in Maharashtra, India (B) (Abridged)." Harvard Business School Case 797-086, February 1997.
    25. Enron Development Corp.: The Dabhol Power Project in Maharashtra, India (C) (Abridged)

      Discusses the resolution of the canceled power project in Maharashtra. The contract between the American gas giant and Indian state government is renegotiated.

      Keywords: Energy Generation; Cross-Cultural and Cross-Border Issues; Policy; Contracts; Negotiation Process; Conflict and Resolution;

      Citation:

      Wells, Louis T., Jr. "Enron Development Corp.: The Dabhol Power Project in Maharashtra, India (C) (Abridged)." Harvard Business School Case 797-087, February 1997.
    26. Choices in U.S. Trade Policy

      Describes the moments leading to the conclusion of the Uruguay Round of international trade negotiations and the outcome of those negotiations. Discusses some of the options facing the Clinton Administration with respect to its international trade policy.

      Keywords: Trade; Governing Rules, Regulations, and Reforms; Policy; Negotiation; Outcome or Result; United States;

      Citation:

      Wells, Louis T., Jr., and Courtenay Sprague. "Choices in U.S. Trade Policy." Harvard Business School Case 796-117, March 1996. (Revised June 1996.)
    27. International Institutions

      Describes the IMF, the World Bank Group, the regional development banks, the Bank of International Settlements, the OECD, and the Group of 7.

      Keywords: Financial Institutions; Banks and Banking; International Finance; Trade; International Relations; Banking Industry;

      Citation:

      Moss, David A., Louis T. Wells Jr., and Lakshmi Gopalan. "International Institutions." Harvard Business School Background Note 796-116, February 1996.
    28. Uruguay Round of the GATT: Choices in U.S. Trade Policy

      Keywords: Trade; Policy; United States;

      Citation:

      Wells, Louis T., Jr. "Uruguay Round of the GATT: Choices in U.S. Trade Policy." Harvard Business School Case 794-133, April 1994.
    29. Caustic Soda in Japan (A)

      Keywords: Chemicals; Chemical Industry; Japan;

      Citation:

      Wells, Louis T., Jr. "Caustic Soda in Japan (A)." Harvard Business School Case 378-203, March 1978. (Revised February 1991.)
    30. Dow Indonesia (B2)

      Keywords: Chemical Industry; Indonesia;

      Citation:

      Austin, James E., Dennis J. Encarnation III, and Louis T. Wells Jr. "Dow Indonesia (B2)." Harvard Business School Case 386-033, July 1985. (Revised January 1990.)
    31. Decontrol of Fertilizer Prices in Pakistan

      Keywords: Business and Government Relations; Developing Countries and Economies; Price; Pakistan;

      Citation:

      Wells, Louis T., Jr. "Decontrol of Fertilizer Prices in Pakistan." Harvard Business School Case 388-087, June 1988.
    32. Note on Intellectual Property

      Citation:

      Wells, Louis T., Jr. "Note on Intellectual Property." Harvard Business School Background Note 387-197, May 1987.
    33. Indonesia: Choice of Industrialization Strategy

      Citation:

      Wells, Louis T., Jr. "Indonesia: Choice of Industrialization Strategy." Harvard Business School Background Note 387-099, January 1987.
    34. Pakistan: A Background Note

      Citation:

      Wells, Louis T., Jr. "Pakistan: A Background Note." Harvard Business School Background Note 387-116, January 1987.
    35. Dow Indonesia (A), Software Case

      Keywords: Chemical Industry; Indonesia;

      Citation:

      Austin, James E., and Louis T. Wells Jr. "Dow Indonesia (A), Software Case." Harvard Business School Case 386-142, August 1986.
    36. Kedaung Industrial Ltd., Video

      Presents an interview with the Indonesian partner of Corning Glass Works' investment in Indonesia. The first part of the interview sets out the original decisions made by the partners. It serves to introduce the partners to the class and to help them decide whether to invest or not. The second part of the interview tells what happened and includes the partner's lessons for future investors.

      Keywords: Partners and Partnerships; Decisions; Investment; Consumer Products Industry; Indonesia;

      Citation:

      Wells, Louis T., Jr. "Kedaung Industrial Ltd., Video." Harvard Business School Video Supplement 886-532, February 1986.
    37. Dow Indonesia (B1)

      Keywords: Chemical Industry; Indonesia;

      Citation:

      Austin, James E., Dennis J. Encarnation III, and Louis T. Wells Jr. "Dow Indonesia (B1)." Harvard Business School Case 386-032, July 1985. (Revised February 1986.)
    38. Dow Indonesia (A)

      Keywords: Chemical Industry; Indonesia;

      Citation:

      Austin, James E., Dennis J. Encarnation III, and Louis T. Wells Jr. "Dow Indonesia (A)." Harvard Business School Case 386-031, July 1985. (Revised February 1986.)
    39. Packages Ltd.

      Citation:

      Wells, Louis T., Jr. "Packages Ltd." Harvard Business School Case 381-027, September 1980.
    40. International Relations at Xerox

      Keywords: International Relations; Information Technology Industry;

      Citation:

      Wells, Louis T., Jr. "International Relations at Xerox." Harvard Business School Case 380-159, March 1980.
    41. Bribery and Extortion in International Business

      Keywords: Crime and Corruption; Trade;

      Citation:

      Wells, Louis T., Jr. "Bribery and Extortion in International Business." Harvard Business School Case 380-087, November 1979.
    42. Caustic Soda in Japan (B)

      Keywords: Chemical Industry; Japan;

      Citation:

      Wells, Louis T., Jr. "Caustic Soda in Japan (B)." Harvard Business School Case 378-204, January 1978.
    43. Note on MITI and the Japanese Liberalization of Direct Foreign Investments

      Keywords: Foreign Direct Investment; Japan;

      Citation:

      Wells, Louis T., Jr. "Note on MITI and the Japanese Liberalization of Direct Foreign Investments." Harvard Business School Background Note 378-205, January 1978.
    44. P.T. Pertamina: Gulf Industrial Processing

      Keywords: Energy Industry;

      Citation:

      Wells, Louis T., Jr. "P.T. Pertamina: Gulf Industrial Processing." Harvard Business School Case 373-099, October 1972. (Revised October 1975.)
    45. Chesebrough-Pond's Uruguay

      Keywords: Uruguay;

      Citation:

      Wells, Louis T., Jr. "Chesebrough-Pond's Uruguay." Harvard Business School Case 313-044, January 1969. (Revised June 1974.)
    46. Picard Printing Products (A)

      Citation:

      Wells, Louis T., Jr. "Picard Printing Products (A)." Harvard Business School Case 374-227, January 1974. (Revised February 1974.)
    47. MAG

      Citation:

      Stobaugh, Robert B., and Louis T. Wells Jr. "MAG." Harvard Business School Case 374-241, January 1974.
    48. Chesebrough-Pond's Uruguay, Teaching Note

      Keywords: Uruguay;

      Citation:

      Wells, Louis T., Jr. "Chesebrough-Pond's Uruguay, Teaching Note." Harvard Business School Teaching Note 313-382, November 1968.

    Presentations

    1. Attracting Foreign Investment to Saudi Arabia

      Keywords: Foreign Direct Investment; Saudi Arabia;

      Citation:

      Wells, Louis T., Jr. "Attracting Foreign Investment to Saudi Arabia." Paper presented at the Jeddah Economic Forum, January 01, 2001.
    2. Privatization of Infrastructure

      Keywords: Privatization; Infrastructure;

      Citation:

      Wells, Louis T., Jr. "Privatization of Infrastructure." Paper presented at the Jeddah Economic Forum, January 01, 2000.
    3. United States Aid and Foreign Direct Investment in Egypt

      Keywords: Foreign Direct Investment; International Finance; United States; Egypt;

      Citation:

      Wells, L. T., Jr. "United States Aid and Foreign Direct Investment in Egypt." In Proceedings of the Conference on Policies and Strategies of USAID in Egypt. , University of Pennsylvania, Philadelphia, January 01, 1978.
    4. The Transnational Corporation and the Host Country

      Keywords: Cross-Cultural and Cross-Border Issues; Multinational Firms and Management;

      Citation:

      Wells, Louis T., Jr. "The Transnational Corporation and the Host Country." Paper presented at the Conference on the Regulation of Transnational Corporations, Columbia Law School, February 01, 1976.
    5. Appropriate and Applicable Technology: The Indonesian Case Study

      Keywords: Technology; Indonesia;

      Citation:

      Wells, L. T., Jr. "Appropriate and Applicable Technology: The Indonesian Case Study." Paper presented at the Corporate Consultation, Council on Religion and International Affairs, The Carnegie Center for Transnational Studies, Council on Religion and International Affairs, Aspen, CO, December 01, 1975.
    6. Vehicles for the International Transfer of Technology

      Keywords: Technology; Globalization;

      Citation:

      Wells, Louis T., Jr. "Vehicles for the International Transfer of Technology." In Technology and Economic Development. Paper presented at the Economic Research Foundation Conference, Istanbul, January 1, 1969.

    Other Publications and Materials

    1. Using Tax Incentives to Compete for Foreign Investment: Are They Worth the Costs?

      Keywords: Taxation; Motivation and Incentives; Foreign Direct Investment; Cost vs Benefits;

      Citation:

      Wells, L. T., Jr., Nancy J. Allen, Jacques Morisset, and Neda Pirnia. "Using Tax Incentives to Compete for Foreign Investment: Are They Worth the Costs?" Foreign Investment Advisory Service Occasional Paper, September 2001.
    2. Administrative Barriers to Foreign Investment: Reducing Red Tape in Africa

      Keywords: Government and Politics; Foreign Direct Investment;

      Citation:

      Wells, L. T., Jr., Timothy S. Buehrer, James J. Emery, and Melvin T. Spence Jr. "Administrative Barriers to Foreign Investment: Reducing Red Tape in Africa." Foreign Investment Advisory Service Occasional Paper, International Finance Corporation, Washington, D.C., 2000.
    3. Marketing a Country: Promotion as a Tool for Attracting Foreign Investment

      Keywords: Foreign Direct Investment; Marketing;

      Citation:

      Wells, Louis T., Jr, and A. Wint. "Marketing a Country: Promotion as a Tool for Attracting Foreign Investment." Foreign Investment Advisory Service Occasional Paper, International Finance Corporation, Washington, D.C., 2000. (This is a revised version of the author's earlier monograph by the same title, originally published in 1991 as Occasional Paper No. 1. The original version has been published in French, Spanish, Chinese, and Arabic.)
    4. Cutting Red Tape: Lessons from a Case-based Approach to Improving the Investment Climate in Mozambique

      Keywords: Investment; Economic Growth; Financial Strategy; Cases; Mozambique;

      Citation:

      Wells, L. T., Jr., and Timothy S. Buehrer. "Cutting Red Tape: Lessons from a Case-based Approach to Improving the Investment Climate in Mozambique." Foreign Investment Advisory Service Occasional Paper, January 2000. (Condensed as "Reduzir a burocracia: Licoes da Mozal para o melhoramento do clima de investimentos em Mocambique," Discussion Paper No. 3, Gabinete de Estudos Ministerio do Plano e Financas Republica de Mocambique, 2000; and reprinted in condensed form as a chapter in A Economia Mocambicana Contemporanea: Ensaios, Gabinete de Estudos, edited by Cassio Rolim, Antonio S. Franco, Bruce Bolnick and Per-Ake Andersson. Mozambique: Ministerio do Plano e Financas, 2002.)
    5. Revisiting Marketing a Country: Promotion as a Tool for Attracting Foreign Investment

      Keywords: Country; Marketing; Foreign Direct Investment;

      Citation:

      Wells, L. T., Jr. "Revisiting Marketing a Country: Promotion as a Tool for Attracting Foreign Investment." Foreign Investment Advisory Service Occasional Paper, January 2000.
    6. Private Investment in Infrastructure: Managing Non-commercial Risk

      Keywords: Risk Management; Investment; Infrastructure;

      Citation:

      Wells, L. T., Jr. "Private Investment in Infrastructure: Managing Non-commercial Risk." World Bank, September 1999.
    7. Conflict or Indifference: U.S. Multinationals in a World of Regional Trading Blocs

      Keywords: Multinational Firms and Management; International Relations; United States;

      Citation:

      Wells, L. T., Jr. "Conflict or Indifference: U.S. Multinationals in a World of Regional Trading Blocs." OECD Development Centre Technical Papers, Organisation for Economic Co-operation and Development (OECD), Paris, March 1992.
    8. Intellectual Property and Developing Countries: Options for US Policy

      Keywords: Intellectual Property; Policy; United States;

      Citation:

      Wells, Louis T., Jr. "Intellectual Property and Developing Countries: Options for US Policy." Policy Focus Series, Overseas Development Council, Washington, D.C., January 1989.
    9. The Generation of Industrial Technology by the Less Developed Countries

      Keywords: Technology; Developing Countries and Economies;

      Citation:

      Ghemawat, Pankaj, and Louis T Wells Jr. "The Generation of Industrial Technology by the Less Developed Countries." Council on Science and Technology, January 1980. Mimeo.
    10. Transfer of Industrial Technology Among the Developing Countries

      Keywords: Technology; Developing Countries and Economies;

      Citation:

      Ghemawat, Pankaj, and Louis T Wells Jr. "Transfer of Industrial Technology Among the Developing Countries." Council on Science and Technology, January 1980. Mimeo.
    11. Foreign Investment in Joint Ventures: Some Effects of Government Policies in Less Developed Countries

      Keywords: Joint Ventures; Foreign Direct Investment; Policy; Developing Countries and Economies;

      Citation:

      Wells, L. T., Jr. "Foreign Investment in Joint Ventures: Some Effects of Government Policies in Less Developed Countries." Economic Development Report, Harvard University, Development Advisory Service, Cambridge, January 1970.
    12. Some Proposals for Ghana's Industrialization Policies

      Keywords: Developing Countries and Economies; Policy; Ghana;

      Citation:

      Wells, Louis T., Jr. "Some Proposals for Ghana's Industrialization Policies." Economic Development Report, Harvard University, Development Advisory Service, Cambridge, January 1969.
    13. The Evolution of Concession Agreements

      Keywords: Agreements and Arrangements; Business and Government Relations;

      Citation:

      Wells, L. T., Jr. "The Evolution of Concession Agreements." Economic Development Report, Harvard University, Development Advisory Service, Cambridge, January 1968.

      Research Summary

    1. Foreign investment in large projects in the Third World

      Professor Wells is examining the reasons for instability in foreign investment in infrastructure and other large projects in the Third World, why outcomes differ in different projects, and the tension between the need on the part of investors for credible commitments with respect to property rights and the need on the part of host countries for some flexibility in contract terms.