TY  - CHAP
AB  - As FDI flows grew in volume and complexity in the 1990s and early 2000s, three new players appeared on the global stage: sovereign wealth funds (SWFs), which were government-controlled entities with the authority to take significant equity stakes in foreign firms; private equity (PE) firms, which resorted increasingly to cross-border acquisitions, and emerging-market multinational enterprises (EMNEs), which ratcheted up their overseas acquisitions and investments. While none of these players was entirely new, each became more visible in the 2000s. Looking ahead, we anticipate that SWFs will continue to be marginal FDI players, with a few exceptions, despite their high visibility; that PEs will play a highly volatile role, varying from marginal at times to important at others; and that only EMNEs were already quite important in 2009 and likely to gain in importance, as emerging economies become prime movers of the global economy. The global financial crisis of 2008–2009 may thus only have speeded up the inevitable rise of emerging economies as both sources and destinations for FDI. We further conclude that EMNEs will contribute significantly to sustainable development because of their distinctive capabilities in making and selling products for low-income customers, and their emerging competence in “green” technologies.
VL  - 15
SN  - 978-0-85724-555-7, 978-0-85724-556-4/1064-4857
DO  - 10.1108/S1064-4857(2011)0000015012
UR  - https://doi.org/10.1108/S1064-4857(2011)0000015012
AU  - Ramamurti Ravi
ED  - Ravi Ramamurti
ED  - Niron Hashai
PY  - 2011
Y1  - 2011/01/01
TI  - New Players in FDI: Sovereign Wealth Funds, Private Equity, and Emerging-Market Multinationals
T2  - The Future of Foreign Direct Investment and the Multinational Enterprise
T3  - Research in Global Strategic Management
PB  - Emerald Group Publishing Limited
SP  - 137
EP  - 165
Y2  - 2024/05/09
ER  -