Paperback
The Rise of Transnational Corporations from Emerging Markets
Threat or Opportunity?
9781848443488 Edward Elgar Publishing
This insightful book shows that foreign direct investment (FDI) from emerging markets has grown from negligible amounts in the early 1980s to $210 billion in 2007, with the stock of investment now being well over $1 trillion. This reflects the rise of firms from these economies to become important players in the world FDI market. The contributors to this book comprehensively analyze the rise of emerging market TNCs, the salient features of the transnational activities of these firms, the relationship of outward FDI and the competitiveness of the firms involved, their impact on host and home countries and implications for the international law and policy system.
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Critical Acclaim
Contributors
Contents
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This comprehensive analysis deals with the range of issues raised by the rise of transnational corporations from emerging markets.
This insightful book shows that foreign direct investment (FDI) from emerging markets has grown from negligible amounts in the early 1980s to $210 billion in 2007, with the stock of investment now being well over $1 trillion. This reflects the rise of firms from these economies to become important players in the world FDI market. The contributors to this book comprehensively analyze the rise of emerging market TNCs, the salient features of the transnational activities of these firms, the relationship of outward FDI and the competitiveness of the firms involved, their impact on host and home countries and implications for the international law and policy system.
The subject of this study is both topical and important and poses a number of challenges that will require considerable policy attention in the future. It will appeal to academics interested in FDI as well as emerging markets. Karl P. Sauvant has gathered together a group of leading academics that makes this an informative and valuable read for anyone interested in the subject, including academics, students at all levels and private sector entities, as well as government officials dealing with outward FDI.
This insightful book shows that foreign direct investment (FDI) from emerging markets has grown from negligible amounts in the early 1980s to $210 billion in 2007, with the stock of investment now being well over $1 trillion. This reflects the rise of firms from these economies to become important players in the world FDI market. The contributors to this book comprehensively analyze the rise of emerging market TNCs, the salient features of the transnational activities of these firms, the relationship of outward FDI and the competitiveness of the firms involved, their impact on host and home countries and implications for the international law and policy system.
The subject of this study is both topical and important and poses a number of challenges that will require considerable policy attention in the future. It will appeal to academics interested in FDI as well as emerging markets. Karl P. Sauvant has gathered together a group of leading academics that makes this an informative and valuable read for anyone interested in the subject, including academics, students at all levels and private sector entities, as well as government officials dealing with outward FDI.
Critical Acclaim
‘Having undertaken billions of FDI in many continents and nations, between Argentina and the PRC, I consider Dr Sauvant’s book an eye-opener, a new page, showing us a new super highway. The OFDI volume of emerging markets today, surpassing the entire FDI volume of not even 20 years back, is a signal of success of the free market economy. It signals also the end of privileges for the Europeans. It reflects entrepreneurship at its best on the part of the fast developing nations of Asia. It shows that free access to know how and capital has permitted Asia to catch up at an unprecedented speed. Contrary to often repeated but wrong opinions, the poor of the world have benefited the most by globalization. A market place of unimaginable potential is under construction in the first half of the 21st century, accelerated by FDI. This book should find many readers, particularly among the political leaders of today and tomorrow.’
– Carl H. Hahn, Chairman Emeritus of Volkswagen AG
– Carl H. Hahn, Chairman Emeritus of Volkswagen AG
Contributors
Contributors: H. Barnard, P.J. Buckley, J. Cantwell, J.L. Clegg, A.R. Cross, A.B. Cyrino, E. de Almeida, J.H. Dunning, L. Eden, R. Geiger, S. Globerman, A. Goldstein, E.M. Graham, C. Hall, Z. Hernández, I. Ince, R. Kant, C. Kim, K. Mendoza, T.H. Moran, D. Park, P.T.V. Resende, M. Rhodes, A. Rugman, J.D. Sachs, K.P. Sauvant, D.M. Schizer, D.M. Shapiro, J.E. Stiglitz, H. Voss, P. Zheng, Y. Zhou
Contents
Contents:
Foreword
Supachai Panitchpakdi
Preface
Emerson de Almeida, David M. Schizer and Yiping Zhou
PART I: OVERVIEW
1. The Rise of TNCs from Emerging Markets: The Issues
Karl P. Sauvant
2. The Rise of TNCs from Emerging Markets: The Global Context
Jeffrey D. Sachs
PART II: EXPLORING THE GROWTH AND PATTERN OF OUTWARD FDI FROM DEVELOPING COUNTRIES
3. The Rise of TNCs from Emerging Markets: Challenges Faced by Firms from India
Ravi Kant
4. The Transnationalization of Supply Chain Management: The Experience of Brazilian Industrial Companies
Paulo T.V. Resende and Alvaro Bruno Cyrino
5. Do Firms from Emerging Markets have to Invest Abroad? Outward FDI and the Competitiveness of Firms
John Cantwell and Helena Barnard
6. How Global are TNCs from Emerging Markets?
Alan Rugman
7. Explaining China’s Outward FDI: An Institutional Perspective
Peter J. Buckley, Jeremy L. Clegg, Adam R. Cross, Hinrich Voss, Mark Rhodes and Ping Zheng
8. Old Wine in New Bottles: A Comparison of Emerging-Market TNCs Today and Developed-Country TNCs Thirty Years Ago
John H. Dunning, Changsu Kim and Donghyun Park
PART III: WHAT’S IN IT FOR HOST COUNTRIES?
9. Who’s Afraid of Emerging-Market TNCs? Or: Are Developing Countries Missing Something in the Globalization Debate?
Andrea Goldstein
10. Corporate Governance of Emerging-Market TNCs: Why Does it Matter?
Rainer Geiger
11. Are Emerging-Market TNCs Sensitive to Corporate Responsibility Issues?
Carrie Hall
PART IV: WHAT’S IN IT FOR HOME COUNTRIES AND THE INTERNATIONAL COMMUNITY?
12. Outward FDI and the Economic Performance of Emerging Markets
Steven Globerman and Daniel M. Shapiro
13. What Policies Should Developing Country Governments Adopt Toward Outward FDI? Lessons from the Experience of Developed Countries
Theodore H. Moran
14. Will Emerging Markets Change their Attitude Toward an International Investment Regime?
Edward M. Graham
15. The Need for an Adequate International Framework for FDI
Joseph E. Stiglitz
PART V: CONCLUSION
16. The Rise of TNCs from Emerging Markets: Threat or Opportunity?
Lorraine Eden
17. Outward Foreign Direct Investment from Emerging Markets: Annotated Bibliography
Zenaida Hernández
Index
Foreword
Supachai Panitchpakdi
Preface
Emerson de Almeida, David M. Schizer and Yiping Zhou
PART I: OVERVIEW
1. The Rise of TNCs from Emerging Markets: The Issues
Karl P. Sauvant
2. The Rise of TNCs from Emerging Markets: The Global Context
Jeffrey D. Sachs
PART II: EXPLORING THE GROWTH AND PATTERN OF OUTWARD FDI FROM DEVELOPING COUNTRIES
3. The Rise of TNCs from Emerging Markets: Challenges Faced by Firms from India
Ravi Kant
4. The Transnationalization of Supply Chain Management: The Experience of Brazilian Industrial Companies
Paulo T.V. Resende and Alvaro Bruno Cyrino
5. Do Firms from Emerging Markets have to Invest Abroad? Outward FDI and the Competitiveness of Firms
John Cantwell and Helena Barnard
6. How Global are TNCs from Emerging Markets?
Alan Rugman
7. Explaining China’s Outward FDI: An Institutional Perspective
Peter J. Buckley, Jeremy L. Clegg, Adam R. Cross, Hinrich Voss, Mark Rhodes and Ping Zheng
8. Old Wine in New Bottles: A Comparison of Emerging-Market TNCs Today and Developed-Country TNCs Thirty Years Ago
John H. Dunning, Changsu Kim and Donghyun Park
PART III: WHAT’S IN IT FOR HOST COUNTRIES?
9. Who’s Afraid of Emerging-Market TNCs? Or: Are Developing Countries Missing Something in the Globalization Debate?
Andrea Goldstein
10. Corporate Governance of Emerging-Market TNCs: Why Does it Matter?
Rainer Geiger
11. Are Emerging-Market TNCs Sensitive to Corporate Responsibility Issues?
Carrie Hall
PART IV: WHAT’S IN IT FOR HOME COUNTRIES AND THE INTERNATIONAL COMMUNITY?
12. Outward FDI and the Economic Performance of Emerging Markets
Steven Globerman and Daniel M. Shapiro
13. What Policies Should Developing Country Governments Adopt Toward Outward FDI? Lessons from the Experience of Developed Countries
Theodore H. Moran
14. Will Emerging Markets Change their Attitude Toward an International Investment Regime?
Edward M. Graham
15. The Need for an Adequate International Framework for FDI
Joseph E. Stiglitz
PART V: CONCLUSION
16. The Rise of TNCs from Emerging Markets: Threat or Opportunity?
Lorraine Eden
17. Outward Foreign Direct Investment from Emerging Markets: Annotated Bibliography
Zenaida Hernández
Index
