Foreign direct investment in Brazil : post-crisis economic development in emerging markets / Mohamed Amal.

Format:

Book

Author/Creator:

Amal, Mohamed, author.

Language:

English

Subjects (All):

Investments, Foreign--Brazil.

Investments, Foreign.

Brazil.

International business enterprises--Brazil.

International business enterprises.

Brazil--Economic policy--2003-.

Economic policy.

Brazil--Economic conditions--1985-.

Economic conditions.

Physical Description:

218 pages : illustrations ; 23 cm

Place of Publication:

London : Amsterdam : Boston : Heidelberg : New York : Oxford : Paris : San Diego : San Francisco : Singapore : Sydney : Tokyo : Academic Press, an imprint of Elsevier, 2016.

Summary:

Foreign Direct Investment in Brazil explores the ways inward and outward FDI can help Brazil sustain economic growth and development in the sometimes hostile post-global crisis era. Inward and outward FDI have major roles to play in reviving Brazil's growth momentum and the country's transition to a new growth paradigm less dependent on commodity exports. The book provides a comprehensive discussion on the analytical framework of FDI and the policy environment influencing the patterns and development of FDI in Brazil. It compares Brazil to other developing countries, but its focus rests on how and to what extent the global crisis is shaping the Brazilian institutional environment and its implications for FDI. Book jacket.

Contents:

1 Introduction

1.1 Research Questions 3

1.2 Overview of the Book 5

1.3 Advantages of the Present Book 6

References 7

2 Determinants of Foreign Direct Investment: Theoretical Approaches

2.1 Introduction 9

2.2 Theories of FDI 10

2.2.1 Hymer's Contributions to International Business 11

2.2.2 Internalization Theory 14

2.2.3 The Eclectic Paradigm 18

2.2.4 The Investment Development Path (IDP) 22

2.2.5 Contributions of the Uppsala Model to FDI Theory 27

2.3 New Perspectives in FDI Theory 28

2.3.1 Institutions and FDI 28

2.3.2 Institutions and International Business 32

2.3.3 Emerging Economies and FDI 34

2.4 General Model of FDI Determinants 37

2.4.1 Economic Performance Perspective 38

2.4.2 Institutional Environment Perspective 41

2.4.3 Absorptive Capacity Perspective 51

2.5 Conclusions 55

References 56

3 General Institutional Framework of Foreign Direct Investment in Brazil

3.1 Global Patterns of FDI 63

3.1.1 Before the 2008 Global Financial Crisis 64

3.1.2 After the 2008 Global Financial Crisis 67

3.2 Brazil's Political Economic Frameworks in Historical Perspective 71

3.2.1 Economic Policies Before the 1990s 71

3.2.2 Economic Policies From the 1990s to After the Global Crisis 73

3.3 General Framework of FDI 78

3.3.1 The Restrictive FDI Framework 79

3.3.2 The Period of Economic Openness 80

3.4 Patterns and Strategies of FDI in Brazil 88

3.4.1 Evolution of FDI in Brazil 91

3.4.2 Distribution of FDI by Country and Region of Origin 94

3.4.3 Sectoral Distribution of FDI 98

3.4.4 Regional Distribution of FDI 99

3.5 FDI Strategies 101

3.5.1 Brief Overview 101

3.5.2 FDI Strategies in the Postreform Period 102

3.5.3 Market-Seeking FDI Strategy 103

3.5.4 Resource-Seeking FDI Strategy 105

3.5.5 Asset-Seeking FDI Strategy 108

3.5.6 Efficiency-Seeking FDI Strategy 111

3.6 Some Final Remarks 115

References 117

4 Determinants of Inward FDI in Brazil

4.1 Economic Performance and FDI 121

4.1.1 Model and Method 125

4.1.2 Results and Discussion 128

4.2 Institutions, the Global Financial Crisis, and FDI 130

4.2.1 Model and Method 133

4.2.2 Model Estimates and Discussion 136

4.3 Industry Effect 148

4.4 Some Concluding Remarks 149

References 150

5 Evolution and Determinants of OFDI

5.1 Introduction 153

5.2 OFDI From Latin America: Different Cycles 154

5.3 Evolution and Patterns of OFDI From Brazil 158

5.3.1 The Evolution of OFDI From Brazil 159

5.3.2 Geographical Distribution of Brazilian OFDI 166

5.3.3 Sectoral Distribution of Brazilian OFDI 168

5.4 Quantitative Assessments of OFDI Determinants 171

5.4.1 Home-Country Effect: Economic Performance 172

5.4.2 Host-Country Effect: Economic and Distance Effects 175

5.5 Strategies of Brazilian MNCs: Final Remarks 180

References 183

6 FDI and Economic Growth

6.1 General Theoretical framework 185

6.2 Quantitative Assessment of the Determinants of Economic Growth 191

6.2.1 Dependent Variable 191

6.2.2 Independent Variables 191

6.2.3 Control Variables 192

6.3 Concluding Remarks 195

6.3.1 Precatching-up Stage 199

6.32 Catching-up Stage 199

6.3.3 Prefrontier-Sharing Stage 200

References 202

7 Conclusions

7.1 General Framework 203

7.2 Institutional Determinants of Inward FDI 205

7.3 Determinants of Outward FDI 207

7.4 FDI and Economic Development 209

References 211.

Notes:

Includes bibliographical references and index.

ISBN:

0128020679

9780128020678

OCLC:

921864822