This 6th edition of this work has been rewritten to take account of the immense changes in the world economy: financial globalization; post communist transition; European integration; the Asian crisis and Chinese liberalization. A substantive preface surveys the great changes in the 25 years since the book first appeared.
Robert Zelwin Aliber was an American economist and professor of International Economics and Finance at the University of Chicago. He was best known for his contribution to the theory of foreign direct investment. He gave the concept of foreign exchange rate in foreign direct investment. Aliber argued that a multinational corporation from hard currency area can borrow at lower rates in a soft currency country than can local firms.