British economist John Dunning,who became known for developing the eclectic paradigm,suggested the following elements of advantage:

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Dunning's eclectic paradigm proposes three elements of advantage: ownership advantages, location advantages, and internalization advantages. These elements are collectively known as the OLI framework. Ownership advantages refer to assets or capabilities that are proprietary to the firm, location advantages refer to advantages associated with operating in a particular location, and internalization advantages refer to the benefits of conducting certain transactions within the firm rather than through the market.

British Economist John Dunning,who Became Known for Developing the Eclectic