This further volume on the effects of multinational enterprises (MNEs) provides a contribution for the analysis of the impact of MNEs activities on host development and growth, the creation of linkages and knowledge flows in local contexts, and the relationships between foreign activities and home competitiveness. Specifically, the conceptual discussion and the fresh empirical evidence provided in the volume allow light to be shed on the following questions, which are crucial for designing the role of policy in order to trigger virtuous circles between multinationals, and local development and growth. To what extent do foreign MNEs represent a crucial source of spillovers for local domestic companies? And which are the working mechanisms of these technological transfers? How can development and growth processes take off? And are there privileged sectors and locations? Do MNEs benefit from significant technological transfer from their foreign activities? And what modalities and mechanisms do MNEs adopt to value technological transfers? Which are the main advantages stemming from them? Do MNEs performances also benefit in terms of labour productivity and employment? The answers provided highlight that recursive elements and interaction between international institutions, government policies and strategies of MNEs are main mechanisms to factors that influence development and growth, thus offering new insights to policy makers. This volume studies the relationship of the MNE with it's home and host countries. It analyzes the effect of MNEs upon local development and growth. It contributes to define the role for public industrial and economic policies.