Rise of Transnational Corporations from Emerging Markets

Edited by Karl P. Sauvant, Senior Fellow, Vale Columbia Center on Sustainable International Investment (a joint center of Columbia Law School and the Earth Institute) at Columbia University, US

• Contents:ForewordSupachai PanitchpakdiPrefaceEmerson de Almeida, David M. Schizer and Yiping ZhouPART I: OVERVIEW1. The Rise of TNCs from Emerging Markets: The IssuesKarl P. Sauvant 2. The Rise of TNCs from Emerging Markets: The Global ContextJeffrey D. SachsPART II: EXPLORING THE GROWTH AND PATTERN OF OUTWARD FDI FROM DEVELOPING COUNTRIES3. The Rise of TNCs from Emerging Markets: Challenges Faced by Firms from India Ravi Kant4. The Transnationalization of Supply Chain Management: The Experience of Brazilian Industrial Companies Paulo T.V. Resende and Alvaro Bruno Cyrino5. Do Firms from Emerging Markets have to Invest Abroad? Outward FDI and the Competitiveness of FirmsJohn Cantwell and Helena Barnard 6. How Global are TNCs from Emerging Markets? Alan Rugman7. Explaining China’s Outward FDI: An Institutional PerspectivePeter J. Buckley, Jeremy L. Clegg, Adam R. Cross, Hinrich Voss, Mark Rhodes and Ping Zheng8. Old Wine in New Bottles: A Comparison of Emerging-Market TNCs Today and Developed-Country TNCs Thirty Years Ago John H. Dunning, Changsu Kim and Donghyun ParkPART III: WHAT’S IN IT FOR HOST COUNTRIES?9. Who’s Afraid of Emerging-Market TNCs? Or: Are Developing Countries Missing Something in the Globalization Debate?Andrea Goldstein 10. Corporate Governance of Emerging-Market TNCs: Why Does it Matter?Rainer Geiger11. Are Emerging-Market TNCs Sensitive to Corporate Responsibility Issues?Carrie HallPART IV: WHAT’S IN IT FOR HOME COUNTRIES AND THE INTERNATIONAL COMMUNITY?12. Outward FDI and the Economic Performance of Emerging MarketsSteven Globerman and Daniel M. Shapiro13. What Policies Should Developing Country Governments Adopt Toward Outward FDI? Lessons from the Experience of Developed Countries Theodore H. Moran14. Will Emerging Markets Change their Attitude Toward an International Investment Regime? Edward M. Graham15. The Need for an Adequate International Framework for FDI Joseph E. StiglitzPART V: CONCLUSION16. The Rise of TNCs from Emerging Markets: Threat or Opportunity? Lorraine Eden17. Outward Foreign Direct Investment from Emerging Markets: Annotated BibliographyZenaida HernándezIndex

'Having undertaken billions of FDI in many continents and nations, between Argentina and the PRC, I consider Dr Sauvant's book an eye-opener, a new page, showing us a new super highway. The OFDI volume of emerging markets today, surpassing the entire FDI volume of not even 20 years back, is a signal of success of the free market economy. It signals also the end of privileges for the Europeans. It reflects entrepreneurship at its best on the part of the fast developing nations of Asia. It shows that free access to know how and capital has permitted Asia to catch up at an unprecedented speed. Contrary to often repeated but wrong opinions, the poor of the world have benefited the most by globalization. A market place of unimaginable potential is under construction in the first half of the 21st century, accelerated by FDI. This book should find many readers, particularly among the political leaders of today and tomorrow.'