Changing Policy Regimes in Outward Foreign Direct Investment: From Control to Promotion

Abstract

Following in the footsteps of the developed countries, more and more firms from emerging markets have gradually accumulated sufficient technological and other capabilities—also known as firm-specific advantages—to allow them to expand their operations to other countries and can consequently be labeled multinational enterprises (MNEs) (van Agtmael 2007). As a result, flows of outward foreign direct investment (OFDI) from emerging markets have increased significantly over the past thirty years (chapter 1; Gammeltoft 2008).

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