The data on foreign investor behavior in the Moroccan investigation cover four years, 1985 through 1989. During this period new inflows of FDI that might be structured to take advantage of the permission to allow majority ownership were quite limited, raising the foreign share of manufacturing assets by 2 percentage points, from 13 percent in 1985 to 15 percent in 1989. Changes in the share of foreign ownership by sector were also small: 5 percentage points in leather, 4 percentage points in scientific instruments, and 3 percentage points in machinery, textiles, and apparel. Only in chemicals (phosphates) was there a substantial FDI inflow, with the foreign share rising by 7 percentage points. By far the bulk of the FDI stock had been established to respond to the earlier minority foreign ownership IS regime. With the given data, it is impossible to know how much reorientation if any occurred among firms whose operations had been set up prior to 1985.