Celebrating the Career and Work of Edward M. Graham
Peterson Institute for International Economics, Washington, DC
September 18, 2007
The Institute held a conference to discuss and honor the work of Edward M. ("Monty") Graham on September 18, 2007. Monty, a Senior Fellow at the Institute since 1990, made significant contributions to our understanding of foreign direct investment (FDI)—both inward and outward from the United States—and to policy toward FDI both in the United States and around the world. This event presented an opportunity to take stock of the current policy situation and future research issues in this important area of international economics while at the same time celebrating Monty’s research career.
The luncheon speaker was Paul Krugman, Monty's coauthor of Institute bestseller Foreign Direct Investment in the United States, which showed that such investment brings large net benefits to the contemporary US economy and thus helped blunt the anti-FDI sentiments of the late 1980s. Krugman discussed the development of foreign direct investment and US politics in the twenty years since the Institute published Graham and Krugman’s first of three editions of Foreign Direct Investment in the United States.
The morning agenda of the conference focused on the links between Monty’s work and present research and policy, including discussion of national security and FDI in the United States, the effect of inwards FDI on developing economies, and multilateral approaches to the governance of investment. Speakers included noted scholars of international investment Stephen Kobrin of Wharton, Theodore Moran of Georgetown, Louis Wells of Harvard, and an opening address by Ed Safarian of Rotman (Toronto). Presentations were followed by Professor Krugman's remarks and discussion with the audience.