TY  - CHAP
AB  - Abstract I study the relationship between pro-market reforms and the expansion of emerging market multinational companies (EMNCs). Extending institutional economics, I propose a co-evolutionary process, whereby pro-market reforms in emerging markets induce the transformation of domestic firms into EMNCs, and the global expansion of EMNCs in turn facilitates the deepening of pro-market reforms in the home country. Specifically, I first explain how pro-market reforms lead to the emergence of EMNCs via international competitiveness, upgrading needs, and escape; I then explain how the global expansion of EMNCs leads to a deepening of pro-market reforms at home via learning, spillovers, and lobbying. I complement these explanations with a discussion of contingencies at the firm (private vs. state, domestic vs. foreign firms), industry (global vs. local industries), and country (developing vs. transition countries) levels.
VL  - 28
SN  - 978-1-78441-740-6, 978-1-78441-739-0/1571-5027
DO  - 10.1108/S1571-502720150000028007
UR  - https://doi.org/10.1108/S1571-502720150000028007
AU  - Cuervo-Cazurra Alvaro
PY  - 2015
Y1  - 2015/01/01
TI  - The Co-Evolution of Pro-Market Reforms and Emerging Market Multinationals
T2  - Emerging Economies and Multinational Enterprises
T3  - Advances in International Management
PB  - Emerald Group Publishing Limited
SP  - 71
EP  - 94
Y2  - 2024/09/18
ER  -