The rapid growth of developing Asia has attracted, and been facilitated by, foreign direct investment (FDI). Potential benefits of FDI inflows extend far beyond financial resources, but costs may entail as well. Governments throughout the region have been striving to find an appropriate policy mix for FDI that will maximize the net benefits for their economies. There is considerable variation in policies and experiences with FDI across countries. This study looks at FDI flows, consequences, and policies in developing Asia. It focuses on a diverse set of six Asian countries and draws lessons from their experiences in managing FDI. TUAN BUI Institute of World Economy, Hanoi, Vietnam NAK-GYUN CHOI Korea Institute for International Economic Policy, Seoul, Korea EMMA XIAOQIN FAN Asian Development Bank, Manila, Philippines JUNE-DONG KIM Korea Institute for International Economic Policy, Seoul, Korea BUSABA KRAIRIKSH Thailand Development Research Institute, Bangkok, Thailand NAGESH KUMAR Research and Information System for the Non-Aligned and Other Developing Countries, New Delhi, India SEONG-BONG LEE Korea Institute for International Economic Policy, Seoul, Korea DEUNDEN NIKONBORIRAK Tha