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What does it matter about the home countries of emerging multinationals?


  • Isabel Álvarez

    () (Departamento de Economía Aplicada II & Instituto Complutense de Estudios Internacionales. Universidad Complutense de Madrid. Campus de Somosaguas 28223- Pozuelo de Alarcón (Madrid))

  • Celia Torrecillas

    (Institute for International Integration Studies, Trinity College Dublin and Universidad de Jaén & Instituto Complutense de Estudios Internacionales)


The recent emergence of new multinational enterprises from developing countries (EMNE) is challenging some basic pillars of the theory of the firm' internationalization and provides new insights for development studies. In this paper we test empirically what aspects at the home country level may facilitate the promotion and success of EMNE that permits the generation of firms' specific advantages in developing contexts. Their identification would complement the explanation of the EMNE phenomena from a country perspective, underlying that institutions and technology are key fields for the definition of policy implications and actions. In the empirical analysis, we use panel data for both developed and developing economies in the period 1996-2009 to capture the international differences and the dynamics in a cross-country study. From a perspective of home national systems of innovation, our contribution shows that the presence of some factors at national level are critical in the definition of a capabilities' accumulation process that enhances the generation of EMNE, and what are the distinctive features in the case of developing economies.

Suggested Citation

  • Isabel Álvarez & Celia Torrecillas, 2013. "What does it matter about the home countries of emerging multinationals?," The Institute for International Integration Studies Discussion Paper Series iiisdp434, IIIS.
  • Handle: RePEc:iis:dispap:iiisdp434

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    References listed on IDEAS

    1. Louis T Wells, 1998. "Multinationals and the Developing Countries," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 29(1), pages 101-114, March.
    2. John Dunning & Sarianna Lundan, 2008. "Institutions and the OLI paradigm of the multinational enterprise," Asia Pacific Journal of Management, Springer, vol. 25(4), pages 573-593, December.
    3. Álvarez, Isabel & Marín, Raquel, 2010. "Entry modes and national systems of innovation," Journal of International Management, Elsevier, vol. 16(4), pages 340-353, December.
    4. Tan, Danchi & Meyer, Klaus E., 2010. "Business groups' outward FDI: A managerial resources perspective," Journal of International Management, Elsevier, vol. 16(2), pages 154-164, June.
    5. Dosi, Giovanni, 1988. "Sources, Procedures, and Microeconomic Effects of Innovation," Journal of Economic Literature, American Economic Association, vol. 26(3), pages 1120-1171, September.
    6. Rugman, Alan M. & Li, Jing, 2007. "Will China's Multinationals Succeed Globally or Regionally?," European Management Journal, Elsevier, vol. 25(5), pages 333-343, October.
    7. Kalotay, Kalman & Sulstarova, Astrit, 2010. "Modelling Russian outward FDI," Journal of International Management, Elsevier, vol. 16(2), pages 131-142, June.
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    More about this item


    Emerging Multinational Enterprises; Developing Countries; Outward FDI; National Systems of Innovation;

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General

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