This chapter analyses foreign direct investments (henceforth FDI) in the oil industry from two large emerging economies, Brazil and China, with the purpose to understand the role of Governments and technology in the internationalisation strategies of those firms. The chapter shows that the Brazilian oil company, Petrobras, internationalised in the 1970s in order to secure oil resources, and throughout time developed technological capabilities that explain its current success and worldwide expansion. Chinese firms have risen later and are making their outward moves in order to catch up technologically with the world's leading firms.
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Paper provided by United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology in its series UNU-MERIT Working Paper Series with number
021.
Find related papers by JEL classification: F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business O25 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy O38 - Economic Development, Technological Change, and Growth - - Technological Change - - - Government Policy O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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