Clifton, Judith and Díaz-Fuentes, Daniel (2010): Is the European Union ready for foreign direct investment from emerging markets?
Download (321kB) | Preview
This chapter asks whether the European Union Member States are ready for inward Foreign Direct Investment from the Emerging Markets. It concludes that European Union Member States have relatively open Foreign Direct Investment regimes in the international context, and yet instances of protectionism have been apparent in the recent period. However, protectionism has occurred both vis-a-vis Foreign Direct Investment from the Global South as well as from within the European Union, particularly in the so-called 'strategic' industries.
|Item Type:||MPRA Paper|
|Original Title:||Is the European Union ready for foreign direct investment from emerging markets?|
|Keywords:||Foreign Direct Investment, European Union, Emerging Markets, Protectionism, 'Strategic' industries, Sovereign Wealth Funds. Electricity. Multinational Enterprises|
|Subjects:||F - International Economics > F5 - International Relations, National Security, and International Political Economy > F52 - National Security ; Economic Nationalism
F - International Economics > F2 - International Factor Movements and International Business > F23 - Multinational Firms ; International Business
G - Financial Economics > G3 - Corporate Finance and Governance > G34 - Mergers ; Acquisitions ; Restructuring ; Corporate Governance
H - Public Economics > H8 - Miscellaneous Issues > H82 - Governmental Property
F - International Economics > F2 - International Factor Movements and International Business > F21 - International Investment ; Long-Term Capital Movements
L - Industrial Organization > L9 - Industry Studies: Transportation and Utilities > L94 - Electric Utilities
M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M2 - Business Economics > M21 - Business Economics
F - International Economics > F3 - International Finance > F36 - Financial Aspects of Economic Integration
|Depositing User:||Daniel Diaz-Fuentes|
|Date Deposited:||29. Aug 2011 12:45|
|Last Modified:||11. Feb 2013 22:42|
Amsden, Alice (2001). The Rise of the Rest: Challenges to the West from Late-Industrializing Economies (Oxford: Oxford University Press).
Antkiewicz, Agata and John Whalley (2006). ‘Recent Chinese buyout activity and the implications for global architecture’, NBER working paper series, 12072, National Bureau of Economic Research, MA, mimeo.
Åslund, Anders (2006). ‘Gazprom’s Strategy’. Testimony before Hearing on EU Economic and Trade Relations with Russia, Committee on International Trade, European Parliament, Brussels, 21 November.
Aykut, Dilek and Andrea Goldstein (2008). ‘Developing country multinationals: south-south investment comes of age’, in David O’Connor and Monica Kjollerstrom, eds., Industrial development for the 21st century (London: Zed Books).
Benoit, Bertrand (2007) ‘Germany plans for own CFIUS deal watchdog,’ Financial Times September 27.
Bouquet, Tim and Bryon Ousey (2008). Cold Steel: the Multi-billion Dollar Battle for a Global Industry (New York: Little Brown).
Burnett, Victoria and Peter Kiefer (2007). ‘Italian banks win control of Telecom Italia’, International Herald Tribune, April 29.
Business Week (2006). ‘Why Russians love Gazprom—no matter what the world thinks”, Business Week,July 31.
Catan, Thomas (2006). ‘Interview: Alexander Medvedev of gazprom” Financial Times, May 29.
Clifton, Judith and Daniel Díaz-Fuentes (2010), “The European Union, Southern Multinationals and the question of the Strategic Industries” in Louis Brennan, The Emergence of Southern Multinationals: Their impact on Europe (London: Palgrave-Macmillan), pp. 236-241.
Clifton, Judith and Daniel Díaz-Fuentes (2008a). ‘The bias of integration in Europe: cases from infrastructure’, Unpublished conference paper presented at the UACES Annual Conference, University of Edinburgh, mimeo.
Clifton, Judith, Francisco Comín and Daniel Díaz-Fuentes (2008b). ‘The rise of the new public service transnationals’, in Harm Schroeter, ed., The European Enterprise: Historical investigation in a Future Species (Dordrecht: Springer), pp. 209-222.
Clifton, Judith, Francisco Comín and Daniel Díaz-Fuentes (2003). Privatization in the European Union (Dordrecht: Kluwer).
Clifton, Judith, Francisco Comín and Daniel Díaz-Fuentes (2007). Transforming Public Enterprise in Europe and the Americas: Networks, Integration and Transnationalisation. (Houndsmill: Palgrave).
Corriere Economia (2006). ‘C’è Hera nel mirino di Gazprom’, Corriere Economia, March 27.
Corriere Economia (2008). ‘Gazprom preme su Eni’, Corriere Economia , February 25.
Costas, Antón (2007). ‘De consumidor a ciudadano. El papel de la calidad del servicio de los mercados de servicios públicos’, Información comercial española, 836, pp. 35-50.
Dyck, Alexander, Natalya Volchkova, and Luigi Zingales (2007). ‘The corporate governance role of the media: evidence from Russia’, ECGI Finance Working Paper 154/2007, available at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=891206 (last accessed 10 November 2008).
Economist Intelligence Unit and Columbia Program on International Investment (2007). World Investment Prospects to 2011: Boom or Backlash? (Economist Intelligence Unit and Columbia Program on International Investment).
European Commission (2006). ‘Energy Policy’, Special Eurobarometer, available at http://ec.europa.eu/public_opinion/archives/ebs/ebs_258_en.pdf (last accessed 10 November 2008).
European Commission (2007). ‘Free movement of capital: commission scrutinizes amendments in Hungarian company law’, Brussels: EC, available at http://europa.eu/rapid/pressReleasesAction.do?reference=IP/07/1681&format=HTML&aged=0&language=EN&guiLanguage=en (last accessed 10 November 2008).
European Commission (2008a). ‘Free movement of capital: commission refers Portugal to European Court of Justice over special rights held by State in Portugal Telecom’, available at http://europa.eu/rapid/pressReleasesAction.do?reference=IP/08/120&type=HTML&aged=0&language=EN&guiLanguage=en (last accessed 10 November 2008)
European Commission (2008b). ‘Free movement of capital: commission refers Portugal to European Court of Justice over special rights held by State in EDP’, available at http://europa.eu/rapid/pressReleasesAction.do?reference=IP/08/1357&format=HTML&aged=0&language=EN&guiLanguage=en (last accessed 10 November 2008).
European Commission (2008c). ‘Commission v. Spain: judgment of the Court of Justice in Case C-207/07’, available at http://curia.europa.eu/en/actu/communiques/cp08/aff/cp080054en.pdf (last accessed 10 November 2008).
European Commission (2008d). ‘A Common European Approach to Sovereign Wealth Funds’, COM(2008) 115 final (Brussels: Commission of the European Communities), available at http://ec.europa.eu/commission_barroso/president/pdf/COM2008_115_en.pdf, last accessed 14 June 2008.
European Commission (2008e). ‘Standard Eurobarometer 69’, available at http://ec.europa.eu/public_opinion/archives/eb/eb69/eb_69_first_en.pdf (last accessed 10 November 2008).
European Council (2006). ‘Presidency Conclusions’ available at . http://ue.eu.int/ueDocs/cms_Data/docs/pressData/en/ec/89013.pdf (accessed 10 November 2008).
El País (2007). ‘Vuelven los dineros con acento árabe’, El País, September 30, p. 7.
Euractiv (2007) “‘Gazprom clause’ issues Russia ultimatum for energy co-operation’, 20 September, www.euractiv.com (last accessed 31 March 2008)
Financial Times (2008) ‘Kremlin celebrates Gazprom’s power’, Financial Times, February 13.
Financial Times (2006) ‘Gazprom’s secretive Ukranian partner tells of lone struggle to build business’, Financial Times, April 23.
Government Accountability Office (2008). Foreign Investment: Law and Policies Regulating Foreign Investment in Ten countries (Washington: GAO), available at http://www.gao.gov/new.items/d08320.pdf (accessed 10 November 2008).
Goldstein, Andrea (2007). Multinational Companies from Emerging Economies (Houndsmill: Palgrave).
Goldstein, Andrea (2008). ‘Who’s afraid of the emerging-market TNCs? Or: are developing countries missing something in the globalization debate?’, in Karl P. Sauvant with Kristin Mendoza and Irmak Ince ed., The Rise of Transnational Corporations from Emerging Markets: Threat or Opportunity? (Cheltenham: Edward Elgar), pp. 183-203.
Goldthau, Andreas (2008). ‘Rhetoric versus reality: Russian threats to European energy supply’, Energy Policy, 36(2), pp. 686-692.
Golub, Stephen S. (2003) ‘Measures of restrictions on inward foreign direct investment for OECD countries’, OECD Economic Studies, No. 36.
Grigoryev, Yuli (2007). ‘Today or not today: deregulating the Russian gas sector’, Energy Policy, 35(5), pp. 3036-3045.
Ilzkovitz, Fabienne, Adriann Dierx and Nuno Sousa (2008). ‘An analysis of the possible causes of product market malfunctioning in the EU: first results for manufacturing and service sectors’, Economic papers 336 (Brussels: Directorate General Economic and Financial Affairs) available at http://ec.europa.eu/economy_finance/publications/publication13083_en.pdf (accessed 10 November 2008).
International Finance Corporation (2006). Southern Multinationals: A Rising Force in the World Economy (Washington D.C.: International Finance Corporation and Financial Times).
Klinova, Marina (2007). ‘Privatization and transnationalisation of Russian enterprises’, in Clifton, Judith. Francisco Comín and Daniel Díaz-Fuentes, eds., Transforming Public Enterprise (Houndsmill: Palgrave) pp. 157-171.
Koyama, Takeshi and Steven S. Golub (2006), ‘OECD's FDI Regulatory Restrictiveness Index: Revision and Extension to more Economies’, OECD Economics Department Working Papers, No. 525 (Paris, OECD).
Kramer, Andrew (2008). “Gazprom moves into coal as a way to increase gas exports,” The New York Times, February 27.
Lall, Sanjaya (1983) The Multinational Corporation (London: Macmillan).
Lapper, Richard and Jonathan Wheatley (2008). ‘Higher ground: Vale signals the rise of the multilatina’, The Financial Times, March 10.
Lund Sagen Eirik and Marina Tsygankova (2008). ‘Russian natural gas exports: will Russian gas price reforms improve the European security of supply’, Energy Policy, 36(2), pp. 867-880.
Le Monde (2005) ‘Dominique de Villepin en appelle au patriotisme économique’, Le Monde, July 29.
MacDonald, Neil (2008). ‘Gazprom raises offer for Serbia oil and gas group’, Financial Times, January 16.
Mandil, Claude (2006). ‘Russia must act to avert a gas supply crisis’, Financial Times, March 22.
OECD (2002). OECD Economic Surveys: The Russian Federation (Paris: OECD).
OECD (2003). Experiences from the Regional Corporate Governance Roundtables (Paris: OECD), available at http://www.oecd.org/dataoecd/19/26/23742340.pdf (accessed 16 April 2008)
OECD (2006). FDI Regulatory Restrictiveness Index (Paris, OECD).
OECD (2007). International Investment Perspectives 2007 (Paris: OECD).
OECD (2009). ‘Foreign government-controlled investors and recipient country investment policies: a scoping paper (Paris: OECD), mimeo.
Ostrovsky, Arkady (2006). ‘Energy of the state: how Gazprom acts as lever in Putin’s power play’, Financial Times, March 13.
Pelkmans, Jacques (2001). European integration: methods and economic analysis (Harlow, England: Financial Times/Prentice Hall).
Ramamurti, Ravi and Jitendra Singh (2009). Emerging Multinationals in Emerging Markets (Cambridge: Cambridge University Press).
Renaissance Capital (2008). Economic and Political Update: 7 April 2008, available at http://www.rencap.com/eng/ (last accessed 14 April 2008).
Sauvant, Karl P., with Kristin Mendoza and Irmak Ince, eds. (2008). The Rise of Transnational Corporations from Emerging Markets: Threat or Opportunity (Cheltenham: Edward Elgar).
Schäfer, Daniel (2008). ‘Germany handed final warning over VW law’, The Financial Times, September 10.
Schipani, Andres (2008). ‘Bolivia signs gas deal with Gazprom’, Financial Times, March 18.
Schulz, Martin (2008). ‘A return of protectionism? Internal deregulation and external investment restrictions in the EU’, Discussion paper 08-04 (Tokyo: Fujitsu Research Institute, Economic Research Centre), mimeo.
Spanjer, Aldo (2007). ‘Russian gas price reform and the EU–Russia gas relationship: incentives, consequences and European security of supply’, Energy Policy, 35 (5), pp. 2889-2898.
The Economist (2005). ‘Russia’s energetic enigma’, The Economist, October 8.
The Economist (2006). ‘Divided and panicky: the EU and Gazprom’, The Economist, May 6.
Thomas, Stephen (2003). ‘The seven brothers’, Energy Policy 31(5), pp. 393-403.
Traynor, Ian (2007). ‘Gazprom told to slim to compete in Europe’, Guardian, September 20.
UNCTAD (2005). World Investment report: Transnational Corporations and the Internationalization of R&D (New York and Geneva: United Nations).
UNCTAD (2006). World Investment Report: FDI from Developing and Transition economies: Implications for development (New York and Geneva: United Nations).
UNCTAD (2007). World Investment Report: Transnational Corporations, Extractive Industries and Development (New York and Geneva: United Nations).
UNCTAD (2008). World Investment Report: Transnational Corporations and the Infrastructure Challenge (New York and Geneva: United Nations).
Van der Linde, Coby (2007). ‘External energy policy: old fears and new dilemmas in a larger Union’, in André Sapir, ed., Fragmented Power: Europe and the Global Economy (Brussels: Breugel AISBL), pp. 266-307, available at http://www.bruegel.org/Public/SimplePage.php?ID=4552, last accessed 16 June 2009.
Walker, Marcus (2008). ‘Germany tinkers with foreign takeovers plan’, Wall Street Journal, January 14.
Williamson, Hugh (2006). ‘Putin hits out at European investment “double standards”’, Financial Times, April 28.
Wolf, Martin (2007). ‘Why plutocracy endangers emerging markets’, Financial Times, November 7.
Available Versions of this Item
- Is the European Union ready for foreign direct investment from emerging markets? (deposited 29. Aug 2011 12:45) [Currently Displayed]