The quality of life for its citizens, especially in the cities, has improved substantially with the addition of the reforms. These include addressing the exchange rate policy that has come under scrutiny by a number of countries, complying with the WTO, investing in research and development, dealing with the banks’ non-performing loans, having transparent laws and defined property rights, and dealing with the growing income inequality.

Q4 Investment Appraisals
An investment appraisal can be broken down into the following basic steps:
a. Identify the need or problem, set in the context of the strategies and define the objectives of the project;
b. Identify the options;
c. Assess the cost and benefits, financial and otherwise, of each option;
ⅠAnalysis of non financial benefit;
ⅡFinancial Analysis - Calculation of Net Present Value over an appropriate time period;
d. Consider risk and uncertainty;
e. Presentation of results and assessment of affordability.

This is the OLI （这个是什么意思 ，请解释下）or eclectic paradigm explaining the existence of multinationals. The O factor answers the "why?" question; that is, why the firm goes abroad. The reason is to exploit its firm specific advantages in other markets and countries; these firm specific advantages (FSAs) allow the firm to overcome the costs of transactin英语论文网 【http://www.51lunwen.org】g and producing in a foreign location.

The L factor answers the "where?" question of location. Since international production requires the use of foreign factors in conjunction with the firm's FSAs, the MNE chooses its where to locate its foreign operations by comparing each country's locational attractiveness in terms of country specific economic, social/cultural, and political factors.

The I factor answers the "how?" question as to what mode of entry the firm uses to penetrate the foreign location. The MNE has a variety of alternative contractual arrangements, ranging from arm's length international trade through the wholly owned foreign subsidiary, and weighs their relative benefits and costs to determine how the enterprise enters the foreign market and expands its operations over time.

The successful MNE simultaneously combines these ownership, location, and internalization advantages to design its network of activities and affiliates in ways that maximize its market shares and growth.
其实大国和小国的区别就是大国对世界经济有影响，而小国没有。没有必要区分大，小公司投资的区别。对于国际投资评价主要表现出以上三个方面即可(ownership, location and internationalization)。如果有问题可再商榷。
Like the other Baltic States, Estonia is experiencing a steep rise in foreign direct investment. For such a small country, one of the key factors in its success is its location.（如果是大国的话，主要是分析投资环境等，如：macroeconomic policies, political institutions, openness and levels of education）

Q5 Balance of payments

The balance of pa 本文来自：英语论文网 【http://www.51lunwen.org】