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The purpose of the paper is to analyze U.S. policies toward financial investment in developing nations. The paper is presented in two sections. In section I, the controversial effects of direct foreign investment on development are discussed. Case studies of investment policies toward India, the Philippines, Ghana, Guatemala, and Argentina are presented. Review of theoretical and empirical knowledge concerning the impact of direct foreign investment on development indicates serious limitations in existing expertise. The effects of national income, jobs, and government revenues are generally positive. However, the impact on balance-of-payment positions and the exploitative nature of much investment are criticized. Section II presents an appraisal of post World War II investment policies. Topics discussed include taxation of foreign income, tax provisions applicable to developing countries, expropriation losses, alternative approaches, trade policies, risk insurance, and balance-of-payment controls. Review of these policies indicates that the effects of the American tax system in promoting direct foreign investment are highly questionable. The conclusion is that U.S. policy should respond differentially to particular cases and to interactions between policies of the host and home countries. (Author/DB)

The Indian Financing Act of 1974 was vital legislation to Indians, previously prevented from obtaining credit from non-Indian lenders who customarily categorized Indians as poor credit risks or set interest rates prohibitively high. Problems in preparation of the administrative regulations delayed initial implementation of the Act until December 1974, and the legislation was not fully effective until March 1975. In fiscal 1975, when approximately $1 billion was needed for Indian financing of housing, industrial development, group commerical enterprises, tribal land purchase, recreational development, civic facilities, and individual loans, $38 million was appropriated for the Revolving Loan Fund, $20 million for the Loan Guaranty and Insurance Fund, and $10 million for the Indian Business Development Grant Program. The cash balance of the Revolving Loan Fund increased to $35 million, loans receivable increased to $26.4 million, and allowance for losses increased to $4 million. Loans of tribal funds and Revolving Loan Funds to tribal members, associations, and enterprises totalled $211 million and brought to a total of $140 million the loans to 64,618 individuals. Outstanding and delinquent loans decreased. Grants totalling $9.7 million and averaging $16,300 were made to individual proprietorships and partnerships, tribes, and tribal organizations to expand, establish, or acquire businesses. (SB)

The first full year of the Indian Financing Act of 1974 was fiscal 1976, after which $91 million had been appropriated for the Revolving Loan Fund, the Loan Guaranty and Insurance Fund, and the Indian Business Development Grant Program. The Revolving Loan Fund, consolidated from 4 previous funds, was underutilized. Only $13.3 million was loaned to tribes, credit associations, and individuals, as against $41 million appropriated. The Loan Fund cash balance decreased, loans receivable increased, allowance for losses was unchanged, and Indian organization funds used to finance economic development of tribes and their members increased to $197.6 million. The Insurance Fund was not utilized by any lenders but the Bureau of Indian Affairs entered into 54 new Loan Guaranty Agreements, mostly guaranteed at 90%, for a total of $14.8 million. The $28.1 loaned under the Revolving Loan Fund and the Loan Guaranty Program helped offset the need of an estimated $1 billion of Indian financing. The Indian Business Development Grant Program contributed to the financing of economic enterprises with 665 grants for $9 million, mostly to individual proprietorships and partnerships, to establish new businesses or acquire or expand established businesses. (SB)

This school building report and capital improvement plan for New York City's public schools emphasizes the need for upgrading existing school plants in order to provide schools with the physical potential for conducting educational programs equivalent to that of new schools. Emphasis is also placed on satisfactorily maintaining school buildings in New York. Figures on enrollment and capacity provided the data from which projected needs were derived. This report includes tables providing building construction, improvement, and rescindment proposals for each community school district, for special schools, and for high schools within each borough. Capital budget requests for the 1978-79 year and funds approved under the Federal Public Works Capital Development Program are summarized. A recapitulation of the building and improvement proposals by borough and a list of lump-sum requests for 1978-1979 are included. (Author/MK)

Results of a national study of corporate giving to higher education give reason for optimism in future years. Highlights include: in national estimates, dollar amounts were at a new high at $715 million, a 17.2 percent increase over 1977; the biggest three-year gain was seen since 1952-55; however, no gain was seen in the percentage of pretax net income given to education, and there was little change in education's share of total corporate contributions. The survey results themselves show that: funding of company foundations participating in the survey amounted to $419 million, an increase of 46.9 percent over 1977, with foundation grants totaling $278 million, a 15.2 percent increase; capital support grants as a share of corporate support dropped from 15.1 to 13.7 percent in the year, but unrestricted operating grants as a share of corporate support rose from 16.9 to 18.5 percent in that period. Matching gift programs accounted for 10.7 percent of the 1978 total, while departmental and research support were 17.7 percent and student support rose in dollar amount but fell in percentage of total contributions. Notes on the Internal Revenue Service's tabulation of total corporate contributions and on report definitions and biases are appended. (MSE)

The economic impact in Pennsylvania of its degree-granting colleges and universities was studied in 1979-80. Information was compiled from existing published sources, and by questioning officials at 125 two-year and four-year accredited degree-granting colleges and universities. The economic impacts in their respective communities of individual colleges and universities were measured by a series of case studies conducted by volunteering institutions. The impact of an institution as a consumer is examined in relation to: institutional expenditures, faculty and staff expenditures, student expenditures, direct support employees, and total expenditures. The impact of the institutions as an employer is examined in relation to: institutional employment, direct support employees, multiplier effects on Pennsylvania employment and income; total higher education-related employment, and total higher education-related payroll. The impact of an institution as a property owner and as an investor, and other impacts of institutions of higher education also are assessed. Additional information includes: higher education enrollments, number of degrees granted, and current-funds revenues of all Pennsylvania institutions of higher education. In order to place higher education in Pennsylvania in a national perspective, comparisons are made with 10 relatively large or contiguous states, as well as with national averages. Among these states, Pennsylvania in 1978 had the third largest number of institutions and branches of higher education, representing 5.8 percent of the nation's total. Information also is presented on: the migration rate for out-of-state students enrolling in Pennsylvania's institutions, the participation rate in higher education for persons in the 18-to-24 age bracket, and the growth rate for current-funds revenues. A sample questionnaire is appended. (SW)

Focusing on the contribution that international capital makes to economic development, this report shows how countries at different stages of development have used external finance productively; how the institutional and policy environment affects the volume and composition of financial flows to developing countries; and how the international community has dealt with financial crises. Part I, an overview and historical perspective, considers historical context, national policies, financial mechanisms, and prospects and options. Part II deals with the role of economic policies and covers macroeconomic and trade policy in industrial countries from the perspective of a developing country, foreign borrowing and developing-country policies, and managing foreign finance. Part III deals with mechanisms for international financial flows, including the international financial system and the developing countries, official development flows, international bank lending and the securities markets, and direct and portfolio investment. Part IV deals with perspectives and policies for the future. Following this is a statistical appendix containing 12 data tables and a section of bibliographical notes. The final section is an annex containing 28 data tables showing world development indicators, including demographics, economic indicators, government spending, education, and urbanization. Technical notes on the tables and a bibliography of data sources conclude the report. (IS)

Types of student financial aid are described, and data are presented on student financial aid at Arizona postsecondary institutions for 1972-1981. In 1980-1981, 214,107 or 92.1 percent of the total students in all Arizona postsecondary institutions were surveyed. Enrollment data are presented for public universities, private four-year and graduate level colleges, public community colleges, private community colleges, and proprietary schools. In addition to a graph showing the total number and dollar amounts of all student aid awards for the 9-year period, a more detailed breakdown is provided by category of institution, with percentages of the total amount of aid dollars awarded in each category for each year. The dollar amounts increased substantially for each of the five sectors, and only the private community colleges failed to show a rise in the number of aid awards. While proprietary schools had 6.6 percent of the students enrolled in 1980-1981 and received 22.5 percent of the total student aid dollars, the public community colleges had 52.3 percent of the students, but received 14.4 percent of the aid dollars. The major sources of aid to students are discussed: scholarships and grants, student employment, and student loans. Specific programs that are described include: the Arizona State Student Incentive Grant Program, Pell Grants, Supplemental Educational Opportunity Grants, College Work Study, National Direct Student Loans, and Guaranteed Student Loans. Trends in Student Aid are reviewed by category of institution and by the source of aid. In addition, an introductory section presents background information about the evolution and processes of financial aid in the United States. (SW)

Information on annuity, charitable remainder trust, and bequest programs is presented. Attention is directed to the growth and basic premises of annuity and life income plans and the question of why an institution should include annuities and charitable trusts in a development program. The various types of plans and gifts and the tax advantages of each are explained in lay language. Practical guidelines are presented on how to start, market, and evaluate annuity and life income plans, and how to work with the business office. The gift annuity is a contract between the institution and the donor. The institution pays a guaranteed lifetime annuity in return for the gift of cash, securities, or real property. The deferred gift annuity is tailored to meet the needs of the donor who wants to claim a substantial charitable contribution now but is willing to defer income payment to a later date. Higher rates of return and larger charitable contributions are available under deferred annuity plans because the gift is invested by the college and the return on the investment accrues to the donor's benefit during the period before the first payment is made. The unitrust is established as a separate trust with no commingling with other funds. As a result, a flexible management policy can be followed to meet changing conditions and the investment objectives of the donor can be considered. Other types of charitable remainder trusts are the net income unitrust, the annuity trust, the term certain annuity trust, and the charitable lead trust. Types of gifts are cash, stocks or bonds, tax-exempt bonds, tangible personal property, and real estate. (SW)

Designed as a tool for vocational agriculture instructors to use in helping their students plan agricultural enterprises for their supervised occupational experience programs, these microcomputer programs enable students to analyze the records of various livestock and crop enterprises as well as the total supervised occupational education program. The three programs (which were successfully tested on students at California High School in California, Missouri) deal with the following topics: livestock enterprise analysis, crop enterprise analysis, and total farm analysis. The programs are written in the BASIC language. (MN)

Designed as a tool for vocational agriculture instructors to use in helping their students plan livestock enterprises that they will use as a part of their supervised occupational experience programs, this microcomputer program enables students to compare livestock enterprises for optimum combination of labor and capital resources to produce maximum income. The program (which was successfully tested on students at California High School in California, Missouri) allows the user to obtain either a video listing or a printed copy of the information that is calculated as a result of the responses to the questions at the beginning of the program. Written in the BASIC language, the program is based upon data obtained from "Farm Business Management Analysis: Analyzing the Farm Business," by Robert Denker, et al. and the "Missouri Farm Planning Handbook, Manual 75." (MN)

Federal costs of the National Direct Student Loan (NDSL) program and the Guaranteed Student Loan (GSL) program are compared, and alternatives to the current system of student financial assistance are discussed. It is estimated that over the life of the loan, the long-term federal costs of GSL and NDSL per dollar loaned are approximately the same under current policies. Both NDSL and GSL cost the federal government slightly less than 50 cents for every dollar loaned over the life of the loan assuming moderate future market interest rates. Four possible modifications to NDSL are addressed: raising the interest rate for borrowers, reducing the federal share of capital, requiring the use of private sector loan servicing agencies to reduce the incidence of default, and eliminating the existing loan cancellation provisions for certain kinds of teaching and military service. It is projected that these modifications would reduce federal costs for NDSL over the life of the loan by 17 cents per dollar loaned, or roughly 35 percent of the long-term federal costs at moderate levels of market interest rates. It is advocated that the sources of capital for students loans should be diversified to reduce the possible consequences of large-scale withdrawal from the GSL program. (SW)

Robots are mechanical devices that can be programmed to perform some task of manipulation or locomotion under automatic control. This paper discusses: (1) early developments of the robotics industry in the United States; (2) the present structure of the industry; (3) noneconomic factors related to the use of robots; (4) labor considerations (noting how productivity improvements resulting from the use of robots and related technologies can affect labor and pointing out a number of education and training issues raised by robotics in robot installation, programming, and maintenance); (5) productivity and capital formation (considering whether there is adequate capital to fund the modernization of industrial plants for use of automation technology, to fund the construction and expansion of plants to produce robots in quantities necessary to have a significant economic impact, and to fund entrepreneurs who wish to develop new types of robots for new applications); (6) robot applications, focusing on spot welding, arc welding, spray painting and coating, and on advantages offered by industrial robots in painting), machine loading and unloading, machining, transferring, and assembling; and (7) prospects for the future. (JN)

One alternative to the insurance crisis faced by school districts is self-insurance, either through pooling or capital market funding. After a brief discussion of the insurance issue, research and literature dealing specifically with self-insurance through pooling and capital market funding are described. Finally, an assesment is made of the various alternatives, and several considerations are presented. In the ideal situation, self-insurance is established on an individual basis through market funding. Pools are a viable alternative if the pools are set up and managed carefully. The best funding method for self-insurance programs, whether independent or pools, is to capitalize the program through a bond issue. The one threat in the capital market approach is the catastrophic claim that might occur. It is recommended that self-insurance progams be carefully researched, designed, and managed. (14 references) (SI)

A survey on the Guaranteed Student Loan Program (GSL) was conducted in 1986 by the Consumer Bankers Association (CBA). Responses by 103 member institutions provided information on student loan operations, the student lending climate, and proposed amendments to the GSL program. Institutions were divided into four asset categories. The larger institutions, as measured by asset size, made the bulk of student loans. Of those institutions under $500 million in assets, 17 made $33.95 million in student loans during 1985; 21 institutions with between $500 million and $1.5 billion in assets made $62.09 million in GSLs; for institutions between $1.5 billion and $5 billion, 21 indicated they had made GSLs for a combined total of $370.52 million. The 32 institutions with assets above $5 billion made $1,657.62 million in student loans. Eighty-three of the respondents ranked the relative net profitability of student lending activities compared to other consumer installment loan products. A significant adverse impact on the GSL program from the recently enacted Gramm-Rudman-Hollings balanced budget amendment was identified; 60% of respondents indicated that they would be adversely affected by the measure. Information was also obtained on advertising of GSLs, loan management, and default prevention practices. (SW)

This handbook provides a brief overview of bank and bank holding company community development corporations (CDCs), the types of activities for which they can be used, the legal requirements in establishing such an entity, and how they are organized and operated. Case studies, including studies of the Shorebank Corporation of Chicago, the First Chicago Neighborhood Development Corporation, the First Rockford CDC, and the Melrose Park Development Corporation, that outline how CDCs are being used to help finance community economic development projects in Illinois are included. CDC activities have included housing development and rehabilitation; downtown and neighborhood commercial revitalization; industrial development and redevelopment; neighborhood marketing; and training, technical assistance, research, and planning for nonprofit development groups. (CML)