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The Rise of Transnational Corporations from Emerging Markets

The Rise of Transnational Corporations from Emerging Markets

Threat or Opportunity?

Studies in International Investment series

Edited by Karl P. Sauvant

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.

Chapter 16: The Rise of TNCs from Emerging Markets: Threat or Opportunity?

Lorraine Eden

Subjects: business and management, international business


Lorraine Eden INTRODUCTION This edited book is based on a conference held at Columbia University in October 2006. The theme of the conference was the rise of transnational corporations (TNCs) from emerging markets, and the impact of this rise on home and host countries and the international community. The purpose of my chapter is to sum up – or to distill – a few observations based on looking across the conference (and the book chapters) as a whole. My comments focus on broad themes and do not cover all of the points or even cover all of the chapters. Rather, I focus on selections which illustrate what I saw as some of the key themes emerging from the conference. 16.1 WHICH ARE THE EMERGING MARKETS? The first issue is definitional: which countries are included in the term ‘emerging markets’? Which firms are considered to be ‘emerging market firms’? How broad or narrow are the terms that scholars and policy makers should be using? The most commonly used definition of emerging markets in the management literature is: ‘Emerging economies are low-income, rapid-growth countries using economic liberalization as their primary engine of growth’ (Hoskisson et al. 2000, p. 249). Their definition included 51 rapid-growth developing countries in Asia, Latin America and the Middle East identified by the International Finance Corporation, and 13 transition economies in the former Soviet Union and China identified by the European Bank for Reconstruction and Development, making a total of 64 countries. The core characteristics...

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