Deadline: September 1, 2013
Title:
Special Issue on: “Multinational
firms and FDI in the 21st century: New theories, new participants and changing
hegemony”
Description:
Recent years have witnessed
increased globalisation of the world economy, aided by technological change,
liberalisation and privatisation pursued by many governments, the development
of bilateral and multinational trade agreements, the globalisation of tastes
and the opening up of markets. Multinational Enterprises have become
increasingly dominant in the global economy, accounting for over 80% of world
trade and an equal proportion of private R&D. Consequently Foreign
Direct Investment (FDI) has grown dramatically reached a peak in 2007 before
the global financial crisis. The growth in FDI both through inward and
outward FDI has increased much faster than Gross domestic Product (GDP) and
Gross Fixed Capital Formation (GFCF).
FDI has stocks and flows have
predominantly occurred within the global triad (North America, Europe, Asia)
though in more recent years we have seen the emergence of emerging market or
transitional economy FDI. However, FDI in Africa is still at a relatively
low level.
Traditional theories of FDI have
tried to explain FDI, through the OLI paradigm, capital arbitrage theory,
international trade theory, the product life cycle model, the Hymerian view,
and the search for markets, resources, efficiency and agglomeration
economies. More recently we have seen the use of Institutional Theory to
explain both developing and developed country FDI flows.
FDI can bring both benefits and
costs to societies and there have been increased calls for the regulation of
this activity. At the same time governments have considered FDI as an
important stimulus for regional growth, improved productivity performances, a
provider of much needed employment and export potential and to enhance
competitiveness and they have not been inactive in pursuing policies to attract
FDI, through state aid, tax breaks and reductions in corporation tax. As
well as attempting to alter their national and regional landscapes to attract
FDI some governments have undertaken policies to stimulate their own domestic
industries to go overseas (The Chinese Go Global Policy). But to what
extent should government be involved in the race to the bottom (through tax
changes), or the race to the top (looking to obtain high value-added FDI and
technological/HQ FDI)? To what extent has the hegemony of the developed
world in the sphere of FDI flows been threatened by the financial crisis and
the growth of new FDI from emerging markets and the BRIC countries? To what
extent is this new FDI embedded in national economies and provide similar or
different spillover effects? To what extent does firm heterogeneity
impact upon the outcomes of FDI? What are the drivers of emerging market FDI
and are these different for private organisations and Sovereign Wealth Funds?
This special issue offers a unique
opportunity to explore the rapidly changing participants, drivers and impact of
FDI in our global economy in a period of change in international trade and
hegemony.
Subject coverage:
Topics include, but are not limited
to, the following:
- Theories on the growth of emerging market FDI
- The regulations and control of FDI
- New theories of FDI behaviour
- The regional impact of FDI
- The drivers of FDI activity
- The impact of different source countries on inbound FDI
- Case studies on particular emerging market or developing country FDI organisation
- The spillover effects of FDI
- Sectoral studies of FDI in a globalised economy
- Government support for the globalisation of firms
- FDI and national competitiveness and export potential
- Regional or country studies of FDI successes and failures
- Critical perspectives on traditional theories of FDI
- FDI and the race to the bottom and race to the top
- Regional integration and trade agreements and FDI patterns
- Sovereign Wealth Funds and their impact on FDI
- Cluster theory and FDI patterns
- MNEs and governance
Notes for Intending Authors:
Submitted papers should not have
been previously published nor be currently under consideration for publication
elsewhere
All papers are refereed through a peer
review process. A guide for authors, sample copies and other relevant
information for submitting papers are available on the Author Guidelines page
Deadlines for submission:
1-2 Page Abstract: by 1st September
2013
Confirmation of interest: 30st September
2013
Submission of Manuscripts: 31st
December 2013
Notification to Authors: 9 February
2014
Final Versions Due: 30 April 2014
Editors and Notes:
You may send one copy in the form of
an MS Word file attached to an e-mail (details in Author Guidelines) to the
following:
Guest Editor(s) contact details,
including email(s):
Dr. Mark Cook, Reader in
International Business, The Business School, University of Wolverhampton, MN
Building, Nursery Street, City Campus North, Wolverhampton, WV1 1AD. Email: Mark.cook@wlv.ac.uk
