text: Corporations in World Development , outline a progressively expanding range of low equity and non-equity operations undertaken by transnational corporations that can include turnkey or supply and plant leasing operations, management contracts, co-production and co-marketing, contract or subcontract manufacturing, franchising, licensing, and a range of associated joint ventures. 1_2/ Low equity or non-equity ventures often respond to host country political desires, but they are driven at least as much by marketplace judgements. While minimizing a transnational corporation's immediate financial risk that its sunken investment can be taken by a host country, lower capital operations also recognize that transnational corporation competitive advantages now often lie less in the provision of equity capital and more in technological applications, managerial know-how, and international market access that may not require overseas equity capital investments. Non-equity arrangements based on these advantages can also enhance a transnational corporation's flexibility to respond to changing global conditions - a valuable characteristic in times of rapid change in both products and production processes. 29. The increase in non-equity ventures has several important implications for assessing transnational corporation operations and the need for international corporate standards. A preliminary conclusion is that this development could provide further evidence for the erosion of traditional dividing lines between trade, investment and monetary issues. Some non-equity transnational corporation ventures resemble transaction-based trade or financial operations that are short-term and have limited impact on a host country's development. In such non-equity arrangements, the transnational corporation does not establish a continued investor relationship, but rather seeks short-term benefits. The host country buyer has greater control and independence in decision -making but cannot be assured of a continuing relationship or follow-up dealings with the foreign corporation. 30. On the other hand, transnational corporations can enter into non-equity arr~ngements from a long-term perspective, investing resources into the venture or 
analysis: The text discusses the various operations undertaken by transnational corporations in world development, specifically focusing on non-equity ventures and their implications for host countries. It highlights the importance of technological applications, managerial know-how, and international market access, which are key drivers of these operations. The text also touches on the flexibility and adaptability of non-equity arrangements, as well as their potential impact on host countries' development.