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Developing Country Multinationals: South-South Investment Comes of Age

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  • Dilek Aykut
  • Andrea Goldstein

Abstract

Large Western corporations have long invested overseas to penetrate markets, seek resources, and increase efficiency. After the explosion of inward FDI to the South in the 1990s, it is now the turn of the largest companies from emerging and transition economies, including the so-called BRICs, to intensify their outward FDI through mergers and acquisitions as well as greenfield investments. The contours of this emerging phenomenon are described in this paper, with a focus on the quantification of the weight of South-South FDI flows and their developmental consequences. Les grandes sociétés des pays de l’OCDE ont longtemps investi à l’étranger pour pénétrer les marchés, s’approvisionner des ressources, et augmenter leur efficacité. Après l'explosion des investissements directs étrangers (IDE) vers les pays du Sud dans les années 90, c'est maintenant au tour des plus grandes compagnies des économies d'émergence et de transition, y compris celles des pays dits BRIC, d'intensifier leurs IDE extérieurs à travers les fusions et acquisitions, aussi bien que par des investissements greenfield. Cet article analyse ce phénomène naissant, avec une focalisation sur la quantification du poids des flux d’IDE Sud-Sud et sur leurs conséquences en matière de développement.

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File URL: http://dx.doi.org/10.1787/245230176440
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Bibliographic Info

Paper provided by OECD Publishing in its series OECD Development Centre Working Papers with number 257.

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Date of creation: Dec 2006
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Handle: RePEc:oec:devaaa:257-en

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Cited by:
  1. International Monetary Fund, 2010. "FDI Flows to Low-Income Countries," IMF Working Papers 10/132, International Monetary Fund.
  2. Alexandre MINDA (LEREPS-GRES), 2008. "The strategies of multilatinas: from the quest for regional leadership to the myth of the global corporation \r\n," Cahiers du GRES 2008-08, Groupement de Recherches Economiques et Sociales.
  3. Clifton, Judith & Díaz-Fuentes, Daniel, 2010. "The European Union, southern multinationals and the question of the 'strategic industries'," MPRA Paper 33040, University Library of Munich, Germany.
  4. Daniel Lederman & Marcelo Olarreaga & Guillermo Perry, 2007. "Latin America´s response to China and India: overview of research findings and policy implications - Observatorio de Política," Revista de Economía y Estadística, Universidad Nacional de Córdoba, Facultad de Ciencias Económicas, Instituto de Economía y Finanzas, vol. 0(1), pages 149-193, January.
  5. A. Amighini & M. Sanfilippo & R. Rabellotti, 2009. "The rise of multinationals from emerging countries. A review of the literature," Working Papers Prin 004, Dipartimento Scienze Economiche, Universita' di Bologna.
  6. Gerasimchuk, Ivetta, 2009. "Re-Think Russian Investment in Southern Africa," MPRA Paper 15151, University Library of Munich, Germany.
  7. Pradhan, Jaya Prakash, 2008. "Indian Direct Investment in Developing Countries: Emerging Trends and Development Impacts," MPRA Paper 12323, University Library of Munich, Germany.
  8. Clifton, Judith & Díaz-Fuentes, Daniel, 2010. "Is the European Union ready for foreign direct investment from emerging markets?," MPRA Paper 33036, University Library of Munich, Germany.
  9. Andrea Goldstein & Fazia Pusterla, 2008. "Emerging Economies’ Multinationals: General Features and Specificities of the Brazilian and Chinese Cases," KITeS Working Papers 223, KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy, revised Oct 2008.
  10. Pradhan, Jaya Prakash, 2008. "South-South Investment in Infrastructure: The Operation of Indian Firms in Developing Countries," MPRA Paper 12333, University Library of Munich, Germany.
  11. Francesca Spigarelli, 2011. "Outward Foreign Direct Investments of the Russian Federation," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 1, March.
  12. Pereira de Carvalho, Flavia & Goldstein, Andrea, 2008. "The making of national giants: technology and governments shaping the international expansion of oil companies from Brazil and China," MERIT Working Papers 021, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).

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