Louis T. Wells

Herbert F. Johnson Professor of International Management, Emeritus

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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. Facilitating Foreign Investment: Government Institutions to Screen and Monitor Investment from Abroad

    L. T. Wells Jr. and A. G. Wint

    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. View Details
  2. Economic Environment of International Business

    R. Vernon and L. T. Wells Jr.

    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.) View Details
  3. Tax and Investment Policies for Hard Minerals: Public and Multinational Enterprises in Indonesia

    Malcolm Gillis, Ralph Beals, Glenn Jenkins, L. T. Wells Jr. and Ulrich Peterson

    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.) View Details
  4. The Acquisition of Technology from Multinational Corporations by Developing Countries

    Walter A. Chudson and L. T. Wells Jr.

    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.) View Details

Journal Articles

  1. Government-held Equity in Foreign Investment Projects: Good for Host Countries?

    Louis T. Wells

    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. View Details
  2. Heart of Darkness: Business Tokens of the Congo (Part 1)

    Louis T. Wells

    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. View Details
  3. Private Power in Indonesia

    Louis T. Wells

    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. View Details
  4. Protecting Foreign Investors in the Developing World: A Shift in U.S. Policy in the 1990s?

    L. T. Wells Jr.

    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.) View Details
  5. Government, Business, and Academia: Origins of Raymond Vernon's Understanding of Multinational Enterprise

    Louis T Wells Jr

    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. View Details
  6. Sovereignty en Garde: Negotiating with Foreign Investors

    L. T. Wells Jr. and D. Encarnation

    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.) View Details
  7. Small Scale Manufacturing as a Competitive Advantage

    L. T. Wells Jr.

    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.) View Details
  8. Bargaining Power of Multinationals and Host Governments

    L. T. Wells Jr. and N. Fagre

    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.) View Details
  9. Book Review of Foreign Investment and Development in the Southwest Pacific: With Special Reference to Australia and Indonesia, edited by David William Carr

    Louis T Wells Jr

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

  10. Foreign Investment from the Third World: The Experience of Chinese Firms from Hong Kong

    L. T. Wells Jr.

    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.) View Details
  11. Negotiating with Third World Governments

    L. T. Wells Jr.

    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.) View Details
  12. Conflict Avoidance in Concession Agreements

    L. T. Wells Jr. and David N. Smith

    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.) View Details
  13. Social Cost/Benefit Analysis for MNC's

    L. T. Wells Jr.

    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.) View Details
  14. Book Review of International Big Business, 1957-67: A Study of Comparative Growth, edited by Robert Rowthorn and Stephen Hymer

    Louis T Wells Jr

    Keywords: Business History; Growth and Development;

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

    Louis T Wells Jr

    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.) View Details

Book Chapters

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

    L. T. Wells Jr. and Chieko Tsuchiya

    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)) View Details
  2. Property Rights for Foreign Capital: Sovereign Debt and Private Direct Investment in Times of Crisis

    Louis T. Wells

    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. View Details
  3. 'Urgency and Betrayal: Three Attempts to Foster Private Investment in Argentina's Oil Industry,' by Nicolas Gadano

    Louis T. Wells

    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. View Details
  4. Backlash to Arbitration: Three Causes

    Louis T. Wells

    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. View Details
  5. Property Rights for Foreign Capital: Sovereign Debt and Private Direct Investment in Times of Crisis

    Louis T. Wells

    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. View Details
  6. The New International Property Rights: Can the Foreign Investor Rely on Them?

    L. T. Wells Jr.

    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. View Details
  7. Managing the Multinational Enterprise

    L. T. Wells Jr. and John M. Stopford

    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.) View Details
  8. Multinationals and the Developing Countries

    L. T. Wells Jr.

    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.) View Details
  9. God and Fair Competition: Does the Foreign Direct Investor Face Still Other Risks in Emerging Markets

    L. T. Wells Jr. and T. Moran

    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. View Details
  10. Marketing a Region for Trade and Investment

    L. T. Wells Jr.

    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. View Details
  11. Antagonism or Equanimity: U.S. Multinationals and Regional Trading Blocs

    L. T. Wells Jr.

    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. View Details
  12. Promoting Foreign Investment: Opportunities and Pitfalls for Host Countries

    L. T. Wells Jr.

    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. View Details
  13. Motivations for Foreign Investment

    L. T. Wells Jr.

    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.) View Details
  14. Foreign Investment in Southeast and East Asia: Lessons for Ghana

    L. T. Wells Jr.

    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)) View Details
  15. A Modo de Resumen

    L. T. Wells Jr.

    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. View Details
  16. Evaluating Foreign Investment with Special Reference to Southeast Asia

    L. T. Wells Jr.

    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.) View Details
  17. Government Relations in the Global Firm

    L. T. Wells Jr. and Amir Mahini

    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.) View Details
  18. Evaluating Foreign Investment

    L. T. Wells Jr. and Dennis J Encarnation

    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.) View Details
  19. New and Old Multinationals: Competitors or Partners?

    L. T. Wells Jr.

    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.) View Details
  20. Negotiating and Implementing Mineral Agreements with Multinationals: Some Critical Tax Development Issues

    L. T. Wells Jr. and Malcolm Gillis

    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. View Details
  21. The International Product Life Cycle and United States Regulation of the Automobile Industry

    L. T. Wells Jr.

    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. View Details
  22. Evaluation of the Present System of Mining Taxation

    Malcolm Gillis, Louis T. Wells and Brian Wright

    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. View Details
  23. Issues and Policies Related to Mining Tax Reform

    Malcolm Gillis, Louis T. Wells and Ulrich Petersen

    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. View Details
  24. Alternatives for Mineral Tax Reform

    Malcolm Gillis, Louis T. Wells, Glenn Jenkins and Brian Wright

    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. View Details
  25. More or Less Poverty? The Economic Effects of the MNE at Home and in the LDC's

    L. T. Wells Jr.

    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. View Details
  26. National Policies in an International Industry: The Europeans and Automobiles

    Louis T Wells Jr

    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. View Details

Working Papers

Cases and Teaching Materials

  1. Caselets: Bribery and Extortion in International Business

    Louis T. Wells Jr.

    "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.) View Details
  2. Caselets: Bribery and Extortion in International Business (Abridged)

    Louis T. Wells Jr.

    "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.) View Details
  3. Protecting Foreign Investors

    Louis T. Wells Jr.

    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.) View Details
  4. Japan: The Miracle Years

    Louis T. Wells Jr.

    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.) View Details
  5. Aguas Argentinas: Settling a Dispute

    Louis T. Wells Jr. and Alexandra de Royere

    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.) View Details
  6. Herbert Hoover (A)

    Louis T. Wells Jr.

    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.) View Details
  7. Arbitration between Foreign Investors and Host Governments

    Louis T. Wells Jr. and Regina Garcia-Cuellar

    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.) View Details
  8. Incidents in Trade Policy

    Louis T. Wells Jr. and Courtenay Sprague

    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.) View Details
  9. World Trade Organization, The: After the Seattle Protests

    Louis T. Wells Jr.

    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.) View Details
  10. Note on the Balance of Payments

    Louis T. Wells Jr.

    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.) View Details
  11. Background and Agreements on Foreign Direct Investment

    Louis T. Wells Jr. and Courtenay Sprague

    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.) View Details
  12. Herbert Hoover (B)

    Louis T. Wells Jr.

    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. View Details
  13. Incidents in Foreign Direct Investment

    Louis T. Wells Jr. and Courtenay Sprague

    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.) View Details
  14. Enron Development Corporation: The Dabhol Power Project in Maharashtra, India (A) (Abridged)

    Louis T. Wells Jr.

    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. View Details
  15. Enron Development Corp.: The Dabhol Power Project in Maharashtra, India (B) (Abridged)

    Louis T. Wells Jr.

    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. View Details
  16. Enron Development Corp.: The Dabhol Power Project in Maharashtra, India (C) (Abridged)

    Louis T. Wells Jr.

    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. View Details
  17. Choices in U.S. Trade Policy

    Louis T. Wells Jr. and Courtenay Sprague

    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.) View Details
  18. International Institutions

    David A. Moss, Louis T. Wells Jr. and Lakshmi Gopalan

    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. View Details
  19. Kedaung Industrial Ltd., Video

    Louis T. Wells Jr.

    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. View Details

Presentations

  1. Appropriate and Applicable Technology: The Indonesian Case Study

    L. T. Wells Jr.

    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. View Details

Other Publications and Materials

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

    L. T. Wells Jr., Nancy J. Allen, Jacques Morisset and Neda Pirnia

    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. View Details
  2. Administrative Barriers to Foreign Investment: Reducing Red Tape in Africa

    L. T. Wells Jr., Timothy S. Buehrer, James J. Emery and Melvin T. Spence Jr.

    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. View Details
  3. Marketing a Country: Promotion as a Tool for Attracting Foreign Investment

    Louis T Wells Jr and A. Wint

    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.) View Details
  4. Cutting Red Tape: Lessons from a Case-based Approach to Improving the Investment Climate in Mozambique

    L. T. Wells Jr. and Timothy S. Buehrer

    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.) View Details
  5. Foreign Investment in Joint Ventures: Some Effects of Government Policies in Less Developed Countries

    L. T. Wells Jr.

    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. View Details

    Research Summary

  1. Foreign investment in large projects in the Third World

    by Louis T. Wells

    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.