chdataonFDIstocksasisavailable.4FDIoutputcanbeestimatedbyapplyingacapital/outputratiotoFDIstocks,grossoperatingsurpluscanbeestimatedbyapplyingarateofreturntoFDIstocks,andsoon.Thequestionis,whatrateofreturnisappropriatetoassumeforthereturntoFDIcapital?IftheratesofreturntoFDIcapitalincluderentstofirm-specificassets,theissuecannotberesolvedbyappealingtoarbitrageconditions.ItwouldbetemptingtoassumethatFDIcapitalearnedapremiumbecauseofthoserents,butapremiumoverwhat?Domesticallylocatedcapital?Orsomeotherasset?Whatisworse,thereareothermodelsthatsuggestthat,becauseofa‘lemons’problem,FDIcapitalmightinsteadearnadiscount(GordonandBovenberg1996).4Sadly,UNCTAD,theoneinternationalagencythatcollectssuchFDIdatafromdisparatenationalsources,doesnotmakeitsdataavailableelectronically.TRADEINSERVICESERROR!AUTO