Slides for the roundtable ’Emerging Multinationals’: Outward Foreign Direct Investment from Emerging and Developing Economies 10 October 2008, Copenhagen Business School Kalman Kalotay UNCTAD
Not just the BRICS: Share of emerging economies* in world FDI stock, 1990– 2007 (%)… *defined as developing and transition economies All emerging economies BRICS
…but difference is less pronounced if ‘emerging economies’ are defined and middle and low-income countries Middle and low-income economies BRICS
Difference between ‘developing and transition’ economies and ‘middle and low-income’ countries ‘Developing and transition’ includes highincome economies, namely: o Asian tigers: n n o n n High-income oil exporters: n n n o Hong Kong, China Korea, Republic of Singapore Taiwan Province of China ‘Middle and low-income’ excludes all highincome economies but includes: o Middle-income new EU members: Bahrain Brunei Darussalam Kuwait Qatar Trinidad and Tobago United Arab Emirates Offshore financial centres: n n n Aruba Barbados British Virgin Islands Cayman Islands Netherlands Antilles n n n o Bulgaria Hungary Latvia Lithuania Poland Romania Slovakia And still excludes high-income ‘emerging economies’ such as: n n Czech Republic Estonia Israel Slovenia Measurement of the share of BRICS partly depends on how you define ‘emerging’
Potential perceptions of emerging-economy investors in developed host economies Type of investor Privately owned Stateowned / Governmentrelated Sovereign wealth fund Financial Technoresources logy Employment & skills Environ- Social Transpamental responsi- rency impact bility National security
The importance of the home country fur future FDI theory o o Whither the home country? (Ms Tolentino) or Towards an OLI-H paradigm?
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