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Austrian Manufacturing MNEs: Long-Term Perspectives


  • Christian Bellak


This article assesses the last 100 years of Austrian FDI. Before 1914 Austrian firms rarely engaged in FDI, mainly since the large home market had a high growth potential and since Austrian firms - although among the largest domestically - were smaller than their international competitors, less diversified and less vertically integrated, and hence their growth was based domestically and internally oriented. Despite the 'automatic' increase of FDI through the new borders in the early inter-war period, the loss of former markets, the crisis of 1929 and finally the Anschluss affected Austrian FDI negatively. Even in the post-Second World War period Austrian FDI remained subdued, mainly for structural factors and a favourable exporting environment. Only in the years preceding Austria's succession to the European Union in 1995 did FDI increase heavily, and Austrian firms became extensively involved in multinational activities.

Suggested Citation

  • Christian Bellak, 1997. "Austrian Manufacturing MNEs: Long-Term Perspectives," Business History, Taylor & Francis Journals, vol. 39(1), pages 47-71.
  • Handle: RePEc:taf:bushst:v:39:y:1997:i:1:p:47-71
    DOI: 10.1080/00076799700000003

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    Cited by:

    1. Christian Bellak, 2000. "The Investment Development Path of Austria," Department of Economics Working Papers wuwp075, Vienna University of Economics and Business, Department of Economics.
    2. Wilfried Altzinger, 1998. "Structure and objectives of Austria's foreign direct investment in the four adjacent Central and Eastern European countries Hungary, the Czech Republic, Slovenia and Slovakia," ERSA conference papers ersa98p74, European Regional Science Association.
    3. Altzinger, Wilfried, 1998. "Austria's foreign direct investment in Central and Eastern Europe. "supply based" or "market driven"?," Department of Economics Working Paper Series 1566, WU Vienna University of Economics and Business.
    4. Christian Bellak & Wilfried Altzinger, 1999. "Direct Versus Indirect FDI: Impact On Domestic Exports And Employment," Working Papers geewp09, Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.

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