Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE (www.oxfordhandbooks.com). © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 25 March 2019

Abstract and Keywords

This chapter provides a long-run historical perspective on international business in emerging markets. It focuses on the role of Western MNEs, and examines their strategies and the management challenges they faced. In the first era of globalization from the 19th century to the 1920s, MNEs sought access to natural resources, and benefitted from exclusive contracts. Innovation was focused on overcoming logistical challenges. During the Great Reversal during the middle decades of the 20th century, the main challenges faced by MNEs were political. Mounting hostility led many firms to divest, and to invest elsewhere. In the contemporary global economy, political risks declined, but corporate strategies needed to carefully manage relations with the government. Emerging markets were increasingly seen as indispensable by MNEs. They were both a place to locate activities in the lower end of global value chains and a growing market.

Keywords: globalization, emerging markets, political risk, multinational strategies, expropriation, divestment concessions, state-owned business

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.