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2019 | OriginalPaper | Buchkapitel

1. Introduction

verfasst von : Valeria Gattai, Rajssa Mechelli, Piergiovanna Natale

Erschienen in: ODI from BRIC Countries

Verlag: Springer International Publishing

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Abstract

This chapter introduces the reader to the content of our book. It reviews some stylized facts that motivate our interest in Outward Direct Investment (ODI) from Brazil, Russia, India, and China (BRIC). According to UNCTAD (2017), BRIC countries feature prominently in terms of ODI: Their overall outflows increased by 125% and their overall outstocks rose by 338% over the last decade, twice as much the respective growth rates for developing economies, and far above those for developed economies. What is behind these impressive figures? Who is responsible for the outstanding ODI performance of BRIC countries? Nations do not engage in ODI: Firms do. Therefore, aggregated ODI volumes should be discerned through firm-level analysis. This is the challenge we take up in this book, by studying the ODI involvement and the ODI-performance nexus of BRIC enterprises. Our theoretical foundations are based on the International Economics literature on internationalization and firm performance. Our empirical analysis is based on ORBIS (2017) firm-level data. Taking both a multi-country and a single-country perspective, in this chapter, we review a number of robust regularities derived elsewhere in the book. Our results are presented in an intuitive manner and contrasted with previous contributions, to highlight the novelties of our approach.

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Nächstes Kapitel BRIC Countries and Foreign Direct Investment: From IDI to ODI

By Foreign Direct Investment (FDI) we refer to an investment in a foreign company in which the investor owns at least 10% of the ordinary shares, where the investment is undertaken with the objective of establishing a lasting interest in the country, a long-term relationship, and significant influence on the management of the firm (IMF 1993; OECD 1996).

In our terminology, Multinational Enterprises (MNEs) are those engaged in ODI.

In this book, we consider “developing”, “emerging”, and “less developed” countries/economies as synonymous. The complete list of developing countries is available at IMF (2014).

In Chap. 3, we discuss the relationship between our approach and the International Business literature on multinationals from BRIC countries.

See Haidar (2012), Yang and Mallick (2010), and Mallick and Yang (2013), to mention just a few.

Fernandes (2007), Alvarez and Lopez (2005), Arnold and Javorcik (2009), Bigsten et al. (2004), and Blalock and Gertler (2004) are just a few examples of recent contributions dealing with the internationalization-performance nexus in developing countries.

Andreff (2015) provides a meta-analysis of econometric studies of FDI flows from each of the BRIC countries.

Alvarez, R., & Lopez, R. A. (2005). Exporting and Performance: Evidence from Chilean Plants. Canadian Journal of Economics, 38, 1384–1400.CrossRef

Andreff, W. (2015). Outward Foreign Direct Investment from BRIC Countries: Comparing Strategies of Brazilian, Russian, Indian and Chinese Multinational Companies. European Journal of Comparative Economics, 12, 79–131.

Arnold, M. J., & Javorcik, B. S. (2009). Gifted Kids or Pushy Parents? Foreign Direct Investment and Plant Productivity in Indonesia. Journal of International Economics, 79, 42–53.CrossRef

Aw, B. J., & Lee, Y. (2008). Firm Heterogeneity and Location Choice for Taiwanese Multinationals. Journal of International Economics, 75, 67–179.CrossRef

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Mallick, S., & Yang, Y. (2013). Productivity Performance of Export Market Entry and Exit: Evidence from Indian Firms. Review of International Economics, 21, 809–824.CrossRef

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Titel: Introduction
verfasst von: Valeria Gattai
Rajssa Mechelli
Piergiovanna Natale
Verlag: Springer International Publishing
Buch: ODI from BRIC Countries
Print ISBN: 978-3-319-97339-5

Electronic ISBN: 978-3-319-97340-1

Copyright-Jahr: 2019
DOI: https://doi.org/10.1007/978-3-319-97340-1_1