Conclusion: State Support for Emerging Market Multinationals

Abstract

The contributions to this volume demonstrate in ample ways that home state support measures are crucial for the outward expansion of emerging market multinationals. Some of these support measures are very obvious, like the Brazilian National Developing Bank (BNDES) financial support for the acquisitions of Brazilian multinational corporations (MNCs) (Masiero et al.), while others are subtler, such as the various informal guanxi links between Chinese businessmen and state representatives (Nölke). Interestingly, state support within the international regulatory environment also appears to matter a lot with regard to emerging market MNC activity, as demonstrated for the cases of foreign direct investment (FDI) regulation (Clifton et al.) and trade (Kingkaew). This conclusion chapter maps the various measures in a systematic way. It also highlights commonalities and differences among multinationals based in established and emerging countries (Mikler; Ozawa). Within this context, it will not only be based on the contributions to the volume (references in brackets without year of publication) but will also embed their findings in the existing literature on the topic (for instance, Goldstein, 2007; 2013; Nölke, 2013). Finally it will highlight some conclusions for further research as well as for policymakers.