Swiss inward FDI and its policy context

Switzerland has constantly sought to build an open economy in which foreign actors have been a crucial element of the economic growth process. The quality of the business environment, the central geographic location in Europe and the stability of the political, legal and social system have traditionally attracted a relatively high-level of inward foreign direct investment (IFDI) to the country. However, this success should not be taken for granted. The current economic crisis and the globalization of the world economy are challenging the attractiveness of Switzerland as a FDI location. In a context of fierce competition among countries to attract FDI, Switzerland has constantly to improve the quality of its business environment in order to remain a competitive location for foreign investors

Swiss outward FDI and its policy context

Switzerland's outward foreign direct investment (OFDI) has traditionally been relatively high. The small size of the country, a natural resources shortage and the geographical location at the heart of Europe induced Swiss firms constantly to expand their activities abroad. This exposure to global markets is reflected in its OFDI. Although the global financial and economic crisis pushed the country into a recession and triggered a sharp decrease of OFDI flows, the Swiss OFDI stock continued to grow in 2008 and 2009. Thanks to a well-balanced economic structure based on innovation and knowledge and coherent government policies, Switzerland weathered, at least in the short-term, the effects of the crisis and set the path for a sustainable growth of OFDI

Impact of duration of chest tube drainage on pain after cardiac surgery

Objective: This study was designed to analyze the duration of chest tube drainage on pain intensity and distribution after cardiac surgery. Methods: Two groups of 80 cardiac surgery adult patients, operated on in two different hospitals, by the same group of cardiac surgeons, and with similar postoperative strategies, were compared. However, in one hospital (long drainage group), a conservative policy was adopted with the removal the chest tubes by postoperative day (POD) 2 or 3, while in the second hospital (short drainage group), all the drains were usually removed on POD 1. Results: There was a trend toward less pain in the short drainage group, with a statistically significant difference on POD 2 (P=0.047). There were less patients without pain on POD 3 in the long drainage group (P=0.01). The areas corresponding to the tract of the pleural tube, namely the epigastric area, the left basis of the thorax, and the left shoulder were more often involved in the long drainage group. There were three pneumonias in each group and no patient required repeated drainage. Conclusions: A policy of early chest drain ablation limits pain sensation and simplifies nursing care, without increasing the need for repeated pleural puncture. Therefore, a policy of short drainage after cardiac surgery should be recommende

High prevalence of unsuspected abdominal aortic aneurysms in patients hospitalised for surgical coronary revascularisation

Objectives: Prevalence of abdominal aortic aneurysms (AAA) is not exactly known among patients with coronary artery disease (CAD) who are considered for surgical revascularisation. We evaluated the value of screening AAA among coronary patients admitted in our cardiovascular surgery unit. Methods: Over a 24-month period, an abdominal echography was proposed to male patients aged 60 or more while hospitalised for surgical coronary revascularisation. Patients with previous investigation of the aorta were excluded. The aorta was considered aneurysmal when the anterior-posterior diameter was of 30 mm or more. Results: Three hundred and ninety-five consecutive patients all accepted a proposed abdominal echographic screening for AAA. Forty unsuspected AAA were detected (10.1%). The mean diameter was 38.9±1.3 mm. Four AAA were larger than 50 mm and considered for surgery after the CABG procedure. Surveillance was proposed to the other 36, especially the 10 patients with an AAA larger than 40 mm. Patients with AAA were significantly older than those without AAA (71.3±0.8 vs. 69.4±0.3 years, P<0.05). Smoking history (P<0.05) and hypertension (P<0.05) were also associated more frequently with AAA. More than 16% of the patients being smokers and suffering hypertension presented with unsuspected AAA. Conclusions: In-hospital screening of AAA is very efficient among patients with coronary artery disease. Therefore, patients with CAD may be considered for routine AAA screenin

Inward and Outward FDI Country Profiles, Second Edition

This second edition contains a series of 77 standardized country profiles dealing with the inward and outward foreign direct investment (FDI) performance of 40 economies. The profiles have been peer-reviewed by a global network of experts. The publication is intended to contribute to the analysis of trends in foreign direct investment and policy issues related to them. More specifically, the individual profiles discuss FDI trends and developments (country-level developments, the corporate players); effects of the recent global crises; and the policy scene. Each profile contains a standard set of tables, including on FDI stocks and flows, sectoral and geographical FDI distributions, the largest M&As and greenfield investments, the principal foreign affiliates (for inward FDI), and the principal multinational enterprises (for outward FDI). The standardized template used to produce the profiles allows cross-country comparisons. The volume is meant to be a reference tool for anyone interested in foreign direct investment

The Role of Clusters in the Global Innovation Strategy of MNEs: Theoretical Foundations and Evidence from the Basel Pharmaceutical Cluster

Purpose – This paper aims to focus on the role of clusters as home and host country- specific advantages for multinational enterprises (“MNEs”) in the organization of their internal and external networks to optimize the diffusion and generation of new knowledge. Strategic asset-seeking investment has been a major driver of the internalization of innovation activities performed by MNEs abroad. This paper demonstrates the attractiveness of foreign clusters in the global innovation process of MNEs. The main assumption is that location within innovative clusters may foster the ability of firms to generate new innovations. Design/methodology/approach – This paper illustrates the theoretical developments through the example of firms located in the Basel pharmaceutical clusters which have invested in other clusters abroad. Findings – The results are based on an in-depth patent data analysis and confirm the importance of clusters in an innovation-driven industry. Originality/value – This paper focuses on the role of clusters as home and host country-specific advantages for “MNEs” in the organization of their internal and external networks to optimize the diffusion and generation of new knowledge. Strategic asset-seeking investment has been a major driver of the internalization of innovation activities performed by MNEs abroad. This paper demonstrates the attractiveness of foreign clusters in the global innovation process of MNEs. The main assumption is that location within innovative clusters may foster the ability of firms to generate new innovations. This paper illustrates the theoretical developments through the example of firms located in the Basel pharmaceutical clusters which have invested in other clusters abroad. The results are based on an in-depth patent data analysis and confirm the importance of clusters in an innovation-driven industry

High prevalence of unsuspected abdominal aortic aneurysms in patients hospitalised for surgical coronary revascularisation.

OBJECTIVES: Prevalence of abdominal aortic aneurysms (AAA) is not exactly known among patients with coronary artery disease (CAD) who are considered for surgical revascularisation. We evaluated the value of screening AAA among coronary patients admitted in our cardiovascular surgery unit. METHODS: Over a 24-month period, an abdominal echography was proposed to male patients aged 60 or more while hospitalised for surgical coronary revascularisation. Patients with previous investigation of the aorta were excluded. The aorta was considered aneurysmal when the anterior-posterior diameter was of 30 mm or more. RESULTS: Three hundred and ninety-five consecutive patients all accepted a proposed abdominal echographic screening for AAA. Forty unsuspected AAA were detected (10.1%). The mean diameter was 38.9 +/- 1.3 mm. Four AAA were larger than 50 mm and considered for surgery after the CABG procedure. Surveillance was proposed to the other 36, especially the 10 patients with an AAA larger than 40 mm. Patients with AAA were significantly older than those without AAA (71.3 +/- 0.8 vs. 69.4 +/- 0.3 years, P&lt;0.05). Smoking history (P&lt;0.05) and hypertension (P&lt;0.05) were also associated more frequently with AAA. More than 16% of the patients being smokers and suffering hypertension presented with unsuspected AAA. CONCLUSIONS: In-hospital screening of AAA is very efficient among patients with coronary artery disease. Therefore, patients with CAD may be considered for routine AAA screening