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Transnational Corporations - Volume 24, Issue 2, 2017
Volume 24, Issue 2, 2017
Transnational Corporations is a policy-oriented journal that serves as a specialized forum for the publication of research on the activities of transactional corporations and their implication for economic development. The articles published in this issue covers production networks in ASEAN; foreign direct investment (FDI) from India; FDI to and from the Russian Federation; and the home country measures for promoting FDI in Latin American countries.
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Global production networks and foreign direct investment by small and medium enterprises in ASEAN.
Author: Henry Wai-chung YeungThis paper examines cross-border investments by small and medium enterprises (SMEs) from member states in the Association of South-East Asian Nations (ASEAN). It explains this relatively under-researched topic from the perspective of SMEs’ strategic coupling with or “plugging into” regional production networks coordinated by global lead firms. Facilitated by growing regional integration, these SMEs create and capture significant value added from their involvement in these production networks. The paper first highlights the different drivers of SME-specific FDI activities in ASEAN that contribute to strengthening regional economic integration through intra- and inter-firm activities in the region. The paper then explains the working of their strategic coupling with ASEAN-based production networks through different coupling mechanisms, such as international partnership, industrial specialization and production platforms. The key challenges confronting SME regionalization are highlighted. Finally, the paper considers the policy and practice of promoting SME regionalization so that they can plug into the growth dynamics of different regional production networks.
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Indian outward FDI: a review of recent developments.
Author: Jaya Prakash PradhanThis paper reviews the recent developments of Indian outward foreign direct investment (OFDI), which has been expanding rapidly, against the backdrop of liberalization and openness policies that have been instituted since the 1990s. The Indian OFDI landscape is changing with the participation of increasing numbers of Indian firms from a wide range of industries, the proactive role of State-owned enterprises in seeking overseas energy resources, and the growing distribution of investments, which are now geographically well spread across developed and developing regions. Indian firms are turning into global players with a global market focus and are undertaking overseas investments for international production, acquisition of foreign-created assets and foreign R&D activities.
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Offshore orientation of Russian Federation FDI.
Author: Alexander BulatovThe research note analyses the geographical profile of FDI of the Russian Federation, which is characterized by the prevalence of offshore entities and conduit (transshipment) countries. It puts forward a hypothesis about the traditional motives (tax minimization) and the non-traditional motives (insufficient safeguarding of legal business, poor level of financial market development, high incidence of monopolization) for this phenomenon. The hypothesis is supported by methodological and empirical arguments constructed against the background of trends and practices in the BRICS and developed economies.
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Latin American governments in the promotion of outward FDI.
Authors: Jorge Alcaraz and Johanan ZamilpaA main issue in growing outward foreign direct investment (OFDI) from emerging economies is the participation of home governments. This paper focuses on governments in Latin America and how they are promoting the OFDI of their domestic enterprises. Brazil, Chile and Mexico are the leading countries in Latin America supporting OFDI, although only Brazil has an active policy and institutional arrangements for supporting home enterprise internationalization. Governments in Latin America need to develop their institutional environments and create suitable conditions for enterprises to expand internationally.
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Mavluda Sattorova. International Investment Law and Development: Bridging the Gap, edited by Stephan W. Schill, Christian J. Tams and Rainer Hofmann
Author: Mavluda SattorovaConceptual issues underpinning the thorny relationship between international investment law and development can be grouped into a number of key themes. At the core of one such theme are questions pertaining to substantive and procedural investment protection rules. Are these rules development-friendly? Do they reflect the evolving views on development and the changing role of foreign investors who are now expected to not only create economic growth but also do so in environmentally and socially-friendly manner? And, do international investment norms provide sufficient room for host states to retain their right to pursue public policy objectives, including policies fostering sustainable development?
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Surender Munjal. The Eclectic Paradigm: A Framework for Synthesizing and Comparing Theories of International Business from Different Disciplines or Perspectives, edited by John Cantwell
Author: Surender MunjalThis edited volume by John Cantwell, the outgoing editor-in-chief of Journal of International Business Studies (JIBS), presents a special compilation of articles on the eclectic paradigm. Cantwell has done an excellent job in selecting articles from JIBS, which is the leading journal in the field of international business (IB), and writing up the introductory piece. The book has nine chapters including the introduction by Cantwell, which provides a holistic account of the eclectic paradigm – how it emerged and developed over time. The introduction is split into five sections: a) the origins of the eclectic paradigm; b) the age of the powerful hierarchical large firm, and rising industrial concentration; c) the age of the knowledge-driven global economy; d) the “new age” of more open and informal business networks; and e) the eclectic paradigm in the new era.
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Oded Shenkar. Developing China: the Remarkable Impact of Foreign Direct Investment by Michael J. Enright
Author: Oded ShenkarAt a time when globalization is increasingly challenged, it is rewarding to read a book that touts the promise of globalization, in particular the benefits of foreign direct investment (FDI). While international trade takes centre stage in the popular media, FDI is not only related to it but also at least as important in its own right, not just economically but also politically, geopolitically, socially, and otherwise. As most economic and social phenomena, it has multiple facets, of which the author chooses to highlight one, namely its critical role in economic growth and development.
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