Outward FDI from the BRICs: Trends and Patterns of Acquisitions in Advanced Countries

Fabio Bertoni, Stefano Elia and Larissa Rabbiosi

Chapter 3 in Emerging Economies and Firms in the Global Crisis, 2013, pp 47-82 from Palgrave Macmillan

Abstract: Abstract In the last few decades, emerging markets have been characterized by liberalization of foreign direct investment (FDI) regimes, governance reforms, deregulation, and the general adoption of market-oriented policies. This major process has posed a number of challenges for emerging firms, which have been increasingly exposed to competition from foreign firms and to the pressure of global economic integration. In this scenario, outward foreign direct investments (OFDIs) from emerging countries grew rapidly and assumed a strategic role, representing 16 per cent of global OFDI flows in 2008 and 28 per cent in 2010 (UNCTAD, 2011). OFDIs are also earning increasing attention in the International Business (IB) literature (Luo and Tung, 2007; Sauvant, 2008; Athreye and Kapur, 2009) for three reasons. Firstly, they are a recent and growing phenomenon that still has to be fully described and understood (Hoskisson et ah, 2000; Sauvant, 2005). Secondly, they originate from countries and firms that do not easily fit into the traditional theoretical frameworks adopted to explain OFDIs from advanced countries (Mathews, 2006; Li, 2007; Rugman, 2007; Kalotay, 2008). Thirdly, their impact on the host and home countries still needs to be fully investigated (UNCTAD, 2005b; Goldstein, 2007).

Keywords: Foreign Direct Investment; Advance Country; Multinational Enterprise; Transnational Corporation; Outward Foreign Direct Investment (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1057/9781137277473_3

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