International Journal of Management Practice

Special Issue on: “Multinational firms and FDI in the 21st century: New theories, new participants and changing hegemony”

Guest Editors:

Dr Mark Cook


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:

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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: [log in to unmask]

Dr Mark Cook

Reader International Business
University of Wolverhampton Business School
City Campus North

Tel. 01902 321779