If country and industry differences are important to the impact of inward FDI on host countries, the main lesson might be that the search for universal relationships is futile. In the case, the question shifts from how inward FDI affect every host country and industry to which type of industries and host countries are affected, and what the impact is on each. It is in identifying the characteristics of firm, industries, and countries that promote the transfer of technology that case studies can be most valuable. Their flexibility with respect to assumptions regarding timing and types of technology transfer suggests what statistical studies should look for and how the variable should be defined, especially if they encompass a wide range of both successful and unsuccessful ventures.