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Perspectives on multinational enterprises in emerging economies

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Abstract

Multinational enterprises (MNEs) play a pivotal role in the development of many emerging economies. In consequence, they became the focus of scholarly research by economists and policy analysts. In contrast, international business scholars have been comparatively uninterested in analysing this role of MNEs. Yet they could make important contributions to these debates. First, studies taking the individual firms as starting point would enhance understanding of the interaction between MNEs and the local environment. Second, theories and research methodologies developed in international business research could provide new insights into the dynamics of MNEs in emerging economies. The objective of this paper is to motivate more international business scholars to engage in research on positive and negative spillovers from foreign direct investment (FDI) in emerging economy societies. To advance this research agenda, scholars need to analyse the specific activities and capabilities of the firms involved, and the impact of FDI on the broader social and environmental context. For management, this agenda raises the ethical question: To what extent ought businesses to care about their local stakeholders?

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Notes

  1. Even increased productivity in an industry does not necessarily imply a positive spillover: inefficient producers may be crowded out, which increases the average productivity in the remaining domestic industry even if no change has occurred in the surviving firms (Smarzynska, 2002).

  2. Thanks to an anonymous reviewer for pointing to this and other potentially negative consequences of MNE.

  3. Many economists point out that, as long as the contract is entered into voluntarily, both partners will be better off. Notably, local wages reflect outside earning opportunities, which are typically low in those countries where so-called sweatshops are located. However, this assumes ex ante full information and the absence of switching costs. Both conditions are unlikely to be fulfilled in labour markets, especially for migrant workers in developing countries. Moreover, bargaining power and even the ability to price discriminate may allow locally important employers to accrue most of the surplus created.

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Acknowledgements

I thank Arie Lewin for stimulating this research, and Evis Sinani for her research assistance. Moreover, the following colleagues have been providing helpful comments: Saul Estrin, Heather Hazard, Camilla Jensen, Mike Peng, participants of the JIBS conference New Frontiers in International Business Research at Duke University, and anonymous referees for Journal of International Business Studies.

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    Klaus E Meyer

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Accepted by Arie Lewin, Editor in Chief, 2004. This paper has been with the author for two revisions.

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Meyer, K. Perspectives on multinational enterprises in emerging economies. J Int Bus Stud 35, 259–276 (2004). https://doi.org/10.1057/palgrave.jibs.8400084

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