Title: Introduction: Outward foreign direct investment from emerging economies and national development strategies: three regimes
Authors: Peter Gammeltoft; Ari Kokko
Addresses: Department of International Economics and Management, Copenhagen Business School, Porcelænshaven 24, DK-2000 Frederiksberg, Denmark ' Department of International Economics and Management, Copenhagen Business School, Porcelænshaven 24, DK-2000 Frederiksberg, Denmark
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.
Keywords: emerging economies; multinationals; multinational corporations; MNCs; foreign direct investment; outward FDI; OFDI; economic development; national development strategies; firm capabilities; government role; trade policy.
International Journal of Technological Learning, Innovation and Development, 2013 Vol.6 No.1/2, pp.1 - 20
Available online: 26 Jan 2013 *Full-text access for editors Access for subscribers Purchase this article Comment on this article