By Marin Marinov, Svetla Marinova
Made from chapters that discover the impression of the worldwide main issue on rising economies and corporations and their reaction to it. The ways that the top rising economies of Brazil, Russia, India and China are facing the demanding situations of the challenge are complemented by means of the equipment utilized by means of nations and companies in important and japanese Europe.
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Additional resources for Emerging Economies and Firms in the Global Crisis
2 per cent of GDP, extending the Growth Acceleration Program of 2007 (Congressional Research Service, 2009: 75). The program included investments in infrastructure, tax cuts and measures to maintain household income, intended to shore up domestic demand. It was largely successful, and the large domestic market and stronger demand helped mitigate the effects of the global crisis on the economy. 5 per cent in 2010, one of the highest annual rates of growth since 1986 (OECD, 2010: 195). OFDI activity by Brazilian MNEs was also curtailed during the crisis, and ﬂows fell from US$20 billion in 2008, to minus US$10 billion in 2009, as intra-company loans were repaid, in order to shore up parent companies during the height of the crisis (ECLAC, 2009; UNCTAD, 2011).
1). Since peaking in 2007, OFDI ﬂows have declined signiﬁcantly. 2 trillion, average OFDI ﬂows for the ﬁve-year period 2003–2007 were almost 40 per cent higher than in the period 1998–2002, when they averaged US$860 billion. Even more remarkable has been the rise in OFDI from emerging markets in recent years,2 and its ability to withstand the worst of the global crisis. 2), a trend that showed no sign of changing in 2011 too. (UNCTAD, 2011a). In terms of inward foreign direct investment(IFDI), the performance of emerging markets has been equally impressive.
Furthermore, critics argue that SOEs crowd out more efﬁcient private companies in markets for ﬁnancial and human capital (The Economist, 2012: 11). How do home country policy-makers retain control, without hindering the competitiveness of their SOE-MNE? This question remains unanswered; but to hope that as they mature and expand, SOEs will simply throw of their political shackles is unrealistic. Information on the experiences of developed countries and the different policy options available is useful for emerging markets, but how applicable is it?