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Introduction: Outward foreign direct investment from emerging economies and national development strategies: three regimes

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  • Peter Gammeltoft
  • Ari Kokko

Abstract

Foreign direct investment (FDI) is an integral part of national development strategy throughout the developing world. However, while traditionally strategies have focused on the role of inward flows only, today, outward FDI is used on a larger scale and more deliberately to access markets and resources abroad. This Introduction proposes a broad framework for the analysis of OFDI from emerging economies. It provides a picture of how the role of FDI in development has changed over time and outlines the theoretical and institutional context in which the current wave of OFDI takes place. Theories of development and FDI, the role of government, and the trade policy environment have interacted to form three distinct development paradigms with different roles for FDI. For convenience, we will refer to these as the import substituting, the export-oriented and the FDI-led development regimes. Where local companies previously engaged mostly by way of trade-based measures, FDI is now becoming more integrated into corporate competitive strategies and national development policies.

Suggested Citation

  • Peter Gammeltoft & Ari Kokko, 2013. "Introduction: Outward foreign direct investment from emerging economies and national development strategies: three regimes," International Journal of Technological Learning, Innovation and Development, Inderscience Enterprises Ltd, vol. 6(1/2), pages 1-20.
    • Handle: RePEc:ids:ijtlid:v:6:y:2013:i:1/2:p:1-20
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    Citations

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    Cited by:

    1. Wladimir Andreff, 2016. "Outward Foreign Direct Investment from BRIC countries: Comparing strategies of Brazilian, Russian, Indian and Chinese multinational companies," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01342391, HAL.
    2. Wladimir Andreff, 2016. "Outward Foreign Direct Investment from BRIC countries: Comparing strategies of Brazilian, Russian, Indian and Chinese multinational companies," Post-Print halshs-01342391, HAL.
    3. Gammeltoft, Peter & Cuervo-Cazurra, Alvaro, 2021. "Enriching internationalization process theory: insights from the study of emerging market multinationals," Journal of International Management, Elsevier, vol. 27(3).
    4. Marcin Grela & Aleksandra Majchrowska & Tomasz Michałek & Jakub Mućk & Agnieszka Stążka-Gawrysiak & Grzegorz Tchorek & Marcin Wagner, 2017. "Is Central and Eastern Europe converging towards the EU-15?," NBP Working Papers 264, Narodowy Bank Polski.
    5. Howell, Anthony & Lin, Jia & Worack, Stephan, 2020. "Going out to innovate more at home: Impacts of outward direct investments on Chinese firms' domestic innovation performance," China Economic Review, Elsevier, vol. 60(C).
    6. Gomes Nogueira, Caroline & Padilla, Ramón, 2015. "Determinants and home-country effects of FDI outflows: Evidence from Latin American countries," Estudios y Perspectivas – Sede Subregional de la CEPAL en México 38914, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    7. Wladimir Andreff, 2015. "Outward Foreign Direct Investment from BRIC countries: Comparing strategies of Brazilian, Russian, Indian and Chinese multinational companies," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 12(2), pages 79-131, December.
    8. Grzegorz Tchorek, 2016. "Foreign Direct Investment and Investment Development Path. The Case of Visegrad Countries (Bezposrednie Inwestycje Zagraniczne a Inwestycyjna Sciezka Rozwoju. Przypadek krajow grupy Wyszehradzkiej)," Research Reports, University of Warsaw, Faculty of Management, vol. 2(22), pages 201-212.

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