Foreign Direct Investment from Emerging Markets: The Challenges Ahead, edited by Karl P Sauvant and Geraldine McAllister with Wolfgang A Maschek (Palgrave MacMillan, 2010), ISBN-10: 023010021X; ISBN-13: 978-0230100213, 469 pp hb.
This collection of twenty three short articles on the growing phenomenon of outward foreign direct investment from emerging markets offers an excellent discussion of a vital feature of the world economy from leaders in the field. The book explores the global reach of multinational corporations primarily from Asia, but also Brazil, Russia and Eastern Europe, with strong emphasis on the celebrated BRICs (Brazil, Russia, India and China). An impressive range of up to date data is presented on investment flows in and out of these countries in various sectors, with figures provided from specific firms in order to establish a practical understanding of the private actors that are involved in a process that is often described elsewhere in terms of turgid international relations or public international law. A lack of comprehensive treatment of the latter topic is perhaps the book’s only major shortcoming, as its methodology is deeply and almost exclusively rooted in economic theory.