The Rise of Indian Multinationals
By Rashmi Banga
Routledge – 2014 – 224 pages
Multinational investment, since the beginning, has primarily been a phenomenon of the developed countries. Until about 2000, the geographical composition of multinational activity was highly concentrated in terms of both the recipient as well as the donor countries. However, with the turn of the century, developing countries started improving their shares both in inflows and in outflows of multinational investment.
The book provides a comprehensive examination and analysis of multinational investment from emerging Asian countries with emphasis on Indian multinationals, and derives policy implications with respect to home country measures for developing countries. Existing theories of multinational investment are looked at, and the book manages to highlight what cannot be explained by the existing theories with respect to multinational investment from developing countries. It goes on to identify determinants of multinational investment from Asian developing countries, and the author presents an analysis of Indian multinationals in order to bring out distinctive characteristics and strategies of Asian multinationals.
1. Introduction 2. A Comparative Analysis of Trends and Pattern of emerging Asian Multinationals with Special Focus on Indian Multinationals 3. Do Theories of FDI Explain South-South FDI and South-North FDI 4. Determinants of OFDI from Asian Developing Countries: What Explains OFDI from India? 5. Distinct Characteristics of Indian Multinationals in Terms of Their Corporate Financial Structures, Strategies and Performances 6. Comparative Analysis of Home Country Measures from Developed and Developing Countries: Lessons for Developing Countries 7. Conclusions and Policy Implications
Rashmi Banga is a Senior Economist in the United Nations Conference on Trade and Development (UNCTAD-India). She is former Associate Professor of Economics in School of International Studies, Jawaharlal Nehru University, India, and has worked extensively on various trade and FDI related issues.