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Handbook of Contemporary Research on Emerging Markets

Handbook of Contemporary Research on Emerging Markets

Research Handbooks in Business and Management series

Edited by Hemant Merchant

The Handbook brings together leading scholars from IB as well as other disciplines to contribute state-of-the-art thinking on emerging markets. The volume extends theoretical and conceptual thinking, looks at operational practices and their implications and provides a research agenda to move the field forward. The contributors offer an in-depth look at specific geographies and functional areas to enrich our understanding of emerging markets.

Chapter 6: Mapping institutional influences on multinational firms’ R & D investments in emerging markets: the case of India

Krishnan Nair, Jaideep Prabhu and Hemant Merchant

Subjects: business and management, asia business, international business


While the internationalization of corporate R & D in the 1990s was largely limited to the R & D triad of North America, Western Europe, and Japan (Florida 1997, Kuemmerle 1999, Kumar 1996), the last 20 years have seen an explosion of foreign R & D facilities in emerging markets, most notably in India and China. In terms of the total number of inbound foreign corporate R & D investments in a country, India ranks first in the world and China ranks second. The ability of a relatively poor country like India to attract a substantial number of foreign R & D investments has puzzled observers, especially given the long held dogma that only the wealthiest countries possess the scientific infrastructure necessary to conduct successful corporate R & D. The dearth of academic research examining the driving forces behind the rapid increase in foreign R & D activity in India has contributed to un-and/or mis-informed views which, unfortunately, the media has only reinforced. The media usually refers to lower labor costs and, to a lesser extent, access to highly skilled scientists and engineers as possible sources of India’s attractiveness to foreign multinational companies (MNCs). No other factors occupy a prominent place in the media’s narrative (Thursby and Thursby 2006a).

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