文档介绍：The current issue and full text archive of this journal is available at
6-
Government
Home government policies for policies for OFDI
outward FDI from emerging
economies: lessons from Asia
Rajah Rasiah 333
Faculty of Economics and Administration, University of Malaya,
Kuala Lumpur, Malaysia
Peter Gammeltoft
Department of International Economics and Management,
Copenhagen Business School, Frederiksberg, Denmark, and
Yang Jiang
Copenhagen Business School, Asia Research Centre,
Frederiksberg, Denmark
Abstract
Purpose – The purpose of this paper is to examine the drivers of outward foreign direct investment
(OFDI) from the emerging economies and if there exists a positive role for home governments to
coordinate them. The backdrop is the recent increases in OFDI from emerging economies and the
emergence of several emerging economy firms, which have caught up to e global leaders in
several industries. The paper focuses particularly on experiences from Asian economies.
Design/methodology/approach – The paper applies a multi method approach and relies on literature
studies, investment statistics, government reports, press reports, company reports, and interviews with
public officials.
Findings – Extending the motive-based business theory, the paper first establishes the
pronouncement of a third wave of OFDI from the mid-1990s. Whereas the typical motives have
remained important, the technology-seeking motive has e significantly more important during
the third wave. Typical policy prescriptions to liberalize government regulations have been called into
question. Many home emerging country governments have acted to coordinate their activities by
regulating proactively investment outflows. The evidence also shows that the essful investment
outflows have benefited significantly from home governments addressing the characteristics and
motives of target industries and locations abroad.
Practical implications – The analysis shows that c