IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/12904.html
   My bibliography  Save this paper

The Emergence of Latin Multinationals

Author

Listed:
  • Santiso, Javier

Abstract

The corporate world has changed remarkably in the past 10 years. New multinationals are appearing in countries with emerging markets such as Brazil, India, China, South Africa and Mexico, which are not only top recipients of foreign capital, but have fast become major investors themselves. An important part of the remarkable story of emerging multinationals has been the eruption of world-class Latin multinationals (or multilatinas) from Mexico and Brazil, in particular, following the path taken by their Spanish counterparts in the 1990s. In all these cases, classical push and pull factors have been driving their emergence. But a decisive helping hand for these multilatinas over the past decade has been the declining cost of capital. This financial dimension is driving the leap from overseas sales to overseas acquisitions, a phenomenon that will be explored in this article.

Suggested Citation

  • Santiso, Javier, 2008. "The Emergence of Latin Multinationals," MPRA Paper 12904, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:12904
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/12904/1/MPRA_paper_12904.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Sudarat Ananchotikul & Barry Eichengreen, 2008. "Plumbing for Latin American capital markets," BIS Papers chapters, in: Bank for International Settlements (ed.), New financing trends in Latin America: a bumpy road towards stability, volume 36, pages 110-139, Bank for International Settlements.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sosa Andrés, Maximiliano & Nunnenkamp, Peter & Busse, Matthias, 2013. "What drives FDI from non-traditional sources? A comparative analysis of the determinants of bilateral FDI flows," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 7, pages 1-53.
    2. Cristina Chaminade & Ramón Padilla-Pérez, 2017. "The challenge of alignment and barriers for the design and implementation of science, technology and innovation policies for innovation systems in developing countries," Chapters, in: Stefan Kuhlmann & Gonzalo Ordóñez-Matamoros (ed.), Research Handbook on Innovation Governance for Emerging Economies, chapter 6, pages 181-204, Edward Elgar Publishing.
    3. Ruben Molina Martinez & Oscar Hugo Pedraza Rendon & Jorge Luis Alcaraz Vargas, 2012. "Multinationalization Of Mexican Companies, La Multinacionalizacion De La Empresa Mexicana," Revista Internacional Administracion & Finanzas, The Institute for Business and Finance Research, vol. 5(5), pages 71-85.
    4. Javier Santiso, 2009. "Sovereign Development Funds : Key Financial Actors of the Shifting Wealth of Nations," Revue d'Économie Financière, Programme National Persée, vol. 9(1), pages 291-315.
    5. Hans J. Blommestein & Javier Santiso, 2007. "New Strategies for Emerging Domestic Sovereign Bond Markets," OECD Development Centre Working Papers 260, OECD Publishing.
    6. Mazouz, Khelifa & Wood, Geoffrey & Yin, Shuxing & Zhang, Mao, 2021. "Comprehending the outward FDI from Latin America and OCED: A comparative perspective," International Business Review, Elsevier, vol. 30(5).
    7. Javier Santiso, 2009. "Les fonds souverains : des acteurs clés dans la nouvelle géographie des richesses," Revue d'Économie Financière, Programme National Persée, vol. 9(1), pages 315-342.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Eduardo Fernandes Cazassa, 2015. "O Mercado Brasileiro de Securitização Imobiliária: uma análise comparativa de spreads," LARES lares_2015_1181-1365-1-rv, Latin American Real Estate Society (LARES).
    2. Sudarat Ananchotikul & Barry Eichengreen, 2009. "Corporate Governance Reform in Emerging Markets: How Much, Why, and with What Effects?," NBER Chapters, in: Financial Globalization, 20th Anniversary Conference, NBER-TCER-CEPR, National Bureau of Economic Research, Inc.
    3. Camilo E Tovar & Myriam Quispe-Agnoli, 2008. "New financing trends in Latin America," BIS Papers chapters, in: Bank for International Settlements (ed.), New financing trends in Latin America: a bumpy road towards stability, volume 36, pages 1-14, Bank for International Settlements.

    More about this item

    Keywords

    Transnational corporations Emerging markets; Foreign direct investment; Investments; Business enterprises; Industrial enterprises; Statistical data; Brazil; Mexico; Latin America; Spain;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:12904. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.