Title: Emerging multinationals: outward FDI from the BRICS countries

Authors: Peter Gammeltoft

Addresses: Department of International Economics and Management, Copenhagen Business School, Porcelaenshaven 24, DK-2000 Frederiksberg, Denmark

Abstract: Outward foreign direct investment from emerging and developing economies has undergone important quantitative and qualitative changes over the last decade. This paper takes stock of the mounting outward investment flows with special focus on China, India, Brazil, Russia, and South Africa (|BRICS|). Following a brief discussion of FDI and emerging economies in general it is suggested that the current increase in outward investment from emerging and developing economies may constitute a third |wave|, distinct from the two previous waves depicted in the literature. The contours of such a wave are outlined, followed by an empirical analysis of outward investment from the BRICS countries.

Keywords: foreign direct investment; outward FDI; BRICS; BRIC; multinational enterprises; MNEs; transnational corporations; TNCs; emerging economies; China; India; Brazil; Russia; South Africa; outward investment.

DOI: 10.1504/IJTG.2008.016184

International Journal of Technology and Globalisation, 2008 Vol.4 No.1, pp.5 - 22

Published online: 08 Dec 2007 *

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