TABLE OF CONTENTS Vil Page PART TWO FDI FROM DEVELOPING AND TRANSITION ECONOMIES:IMPLICATIONS FOR DEVELOPMENT INTRODUCTION. ,103 CHAPTER III.EMERGING SOURCES OF FDI.. .105 105 1.FDI from developing and transition economies increases .105 Growing overseas investments from developing and transition economies 10 110 Growing importance of Asia as a source of FDI. 112 South-South FDI becomes significant Services dom B.GLOBALAND REGIONAL PLAYERS EMERGING FROM DEVELOPING AND TRANSITION ECONOMIES... .122 of TNCs from developing and transition economies 3 TNCs from Asia 126 7 131 TNCs from Latin America and the Caribbean 132 TNCs from South-East Europe and the CIS. 134 C.SALIENT FEATURES OF THE EMERGING SOURCES OF FDI. .135 NOTES .137 CHAPTER IV.DRIVERS AND DETERMINANTS...... …141 A.CONCEPTUAL FRAMEWORK. .142 estmen .142 from developing and transition economies. 143 3.Application of the theory to TNCs from developing and transition economies........ .146 B.COMPETITIVE ADVANTAGES,DRIVERS AND MOTIVES...... .150 Home country drivers (push factors). (push and pu) 3.Motivations and strategies 157 Namket-secking 158 Rcsource-secking. 161TABLE OF CONTENTS vii 
 

  

    
  

  INTRODUCTION................................................................................................... 103 CHAPTER III. EMERGING SOURCES OF FDI................................................... 105 A. DEVELOPING AND TRANSITION ECONOMIES GAIN GROUND AS HOME COUNTRIES ................................................................................................................... 105 1. FDI from developing and transition economies increases ......................................................... 105 a. Growing overseas investments from developing and transition economies .................... 105 b. Cross-border mergers and acquisitions on the rise ............................................................. 108 c. Greenfield and expansion investments ................................................................................ 110 2. Growing importance of Asia as a source of FDI ........................................................................ 112 3. Services dominate .......................................................................................................................... 115 4. South-South FDI becomes significant ......................................................................................... 117 B. GLOBAL AND REGIONAL PLAYERS EMERGING FROM DEVELOPING AND TRANSITION ECONOMIES ................................................................... 122 1. The rise of TNCs from developing and transition economies ................................................... 122 2. TNCs from Africa .......................................................................................................................... 125 3. TNCs from Asia ............................................................................................................................. 126 a. TNCs from East and South-East Asia .................................................................................. 127 b. TNCs from South Asia .......................................................................................................... 130 c. TNCs from West Asia ........................................................................................................... 131 4. TNCs from Latin America and the Caribbean ............................................................................ 132 5. TNCs from South-East Europe and the CIS ................................................................................ 134 C. SALIENT FEATURES OF THE EMERGING SOURCES OF FDI........................................... 135 NOTES ................................................................................................................................................................ 137 CHAPTER IV. DRIVERS AND DETERMINANTS................................................ 141 A. CONCEPTUAL FRAMEWORK...................................................................................................... 142 1. The theory of transnational corporations and foreign direct investment .................................. 142 2. The investment development path and the emergence of TNCs from developing and transition economies.................................................................................. 143 3. Application of the theory to TNCs from developing and transition economies ...................... 146 B. COMPETITIVE ADVANTAGES, DRIVERS AND MOTIVES .................................................. 150 1. Sources of competitive advantages .............................................................................................. 152 2. Drivers to internationalization ...................................................................................................... 155 a. Home country drivers (push factors) ................................................................................... 155 b. Host country drivers (pull factors)....................................................................................... 155 c. Empirical evidence on drivers (push and pull) ................................................................... 156 3. Motivations and strategies ............................................................................................................ 157 a. Market-seeking ........................................................................................................................ 158 b. Efficiency-seeking ................................................................................................................. 158 c. Resource-seeking................................................................................................................... 161 Page