The_Open_Door_deel1

XIII
in the library and files of the Ministry of Finance, notably of
the Concessions Secretariat in Monrovia. Unfortunately, however,
during the course of the research which he conducted in Liberia
during the years 1976 - 1979, the present author was faced with
the fact that much information, both on the foreign companies
and on the general economic and financial affairs of Liberia,
was already lost.
The present study aims at analysing critically what is often
said or suggested to be the main cause of Liberia's economic
and financial performance during the past decades: the "Open
Door Policy", and at investigating the diffusive aspects of the
fruits of this policy, whether direct or indirect.
As indicated before, the National Unification Policy appeared
to be necessarily complementary to the Open Door Policy (13)
and a comprehensive study of the effects of the Open Door Policy
should include an evaluation of the National Unification Policy.
Dealing with the latter in depth, however tempting and
interesting, was intentionally avoided since it would have necessitated
supplementing the inquisitiveness of the author by
that of specialists from other disciplines, such as sociologists
and political scientists. However, from time to time, a
discussion of some of these aspects had to be included. If this
limitation has resulted in any omissions in this study it is
sincerely hoped that others will be motivated to start where
the present author found it necessary to stop.
Any examination of foreign investors' participation in and contribution
to the economy of a developing country must concentrate
on the following basic questions which were used as
starting points in the present study. In the first place, what
is the advantage of having foreign investors instead of domestic
entrepreneurs stimulate the economy? In other words, what can
these foreigners offer which apparently is lacking in the host
country? Secondly, what was legally envisaged by the Government
of this country when it invited the foreign investors: what were
the latters 1 ' duties and obligations, their rights and their privileges,
as laid down in official agreements? Thirdly, as there
might have been omissions, shortcomings, or anachronisms in the
agreements between the investors and the Government, how were
they repaired? Fourthly, what was the foreign companies' actual
contribution to the national economy, and, last but not least,
have there been any unexpected or undesirable side effects of
these foreign investments?
In~addition to the above, the Liberian invitation to foreign investors
was accompanied by specific, explicitly stated objectives.
These will be used in the present study as yardsticks to
determine whether the impact of foreign investments was in conformity
with the goals set and the expectations cherished.
The first criterium is based on President Arthur Barclay's
statement that European funds, know-how and entrepreneurship
(including those from the U.S.A.) would contribute to the