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Brazilian companies going global - home country push factors of Brazilian multinational enterprises‘ (BMNEs‘) investments, general characteristics and tendencies of their investments in the European, especially East Central European (ECE) region


  • Judit Ricz

    (Institute of World Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences)


Recently we have seen a fundamental shift in the news regarding Brazilian multinational companies: as long as during the 2000s their successful expansion into global markets was celebrated, today their involvement in the widespread corruption scandal, originating from the kickback scheme (via systematic overpricing of contracts) from Petrobras is on a daily basis in the newspapers. The paper aims to analyse the going global strategy of Brazilian firms, with special emphasis on the home country push factors. After a general panorama on the numbers and main players, we look at the main driving forces behind the international expansion strategy (incl. government policies to support the internationalization of Brazilian MNEs), as well as the various obstacles Brazilian companies have faced on their dumpy road towards the global markets. Then we look at the main destinations of Brazil’s outward FDI, and analyse their localization strategies, with a special focus on the role of Europe (more specifically the Eastern Central European region). We provide some preliminary findings on the Brazilian companies present in the ECE region especially in Hungary), while also try to reveal some region specific driving forces and obstacles that might lie beyond the numbers.

Suggested Citation

  • Judit Ricz, 2017. "Brazilian companies going global - home country push factors of Brazilian multinational enterprises‘ (BMNEs‘) investments, general characteristics and tendencies of their investments in the European, ," IWE Working Papers 231, Institute for World Economics - Centre for Economic and Regional Studies- Hungarian Academy of Sciences.
  • Handle: RePEc:iwe:workpr:231

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    References listed on IDEAS

    1. Karl P. Sauvant, 2006. "Inward and Outward FDI and the BRICs," Chapters, in: Subhash C. Jain (ed.), Emerging Economies and the Transformation of International Business, chapter 14, Edward Elgar Publishing.
    2. Rodrik, Dani, 2004. "Industrial Policy for the Twenty-First Century," CEPR Discussion Papers 4767, C.E.P.R. Discussion Papers.
    3. repec:idb:brikps:62498 is not listed on IDEAS
    4. Paulo Resende & André Almeida & Jase Ramsey, 2010. "The Transnationalization of Brazilian Companies: Lessons from the Top Twenty Multinational Enterprises," Palgrave Macmillan Books, in: Karl P. Sauvant & Geraldine McAllister & Wolfgang A. Maschek (ed.), Foreign Direct Investments from Emerging Markets, chapter 0, pages 97-111, Palgrave Macmillan.
    5. Santiso,Javier, 2013. "The Decade of the Multilatinas," Cambridge Books, Cambridge University Press, number 9781107034433, December.
    6. Lourdes Casanova & Andrea Golstein & André Almeida & Matthew Fraser & Ramón Molina & Henning Hoeber & Carlos Arruda, 2009. "Multilatinas to Global Latinas: The New Latin American Multinationals," IDB Publications (Books), Inter-American Development Bank, number 62498, February.
    7. Judit Ricz, 2017. "The Rise and Fall (?) of a New Developmental State in Brazil," Society and Economy, Akadémiai Kiadó, Hungary, vol. 39(1), pages 85-108, March.
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    More about this item


    Brazilian multinationals; internationalization strategy; OFDI;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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