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Crawling up the value chain: domestic institutions and non-traditional foreign direct investment in Brazil, 1990-2010

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  • Patrick J. W. Egan

Abstract

Brazil attracted relatively little innovation-intensive and export-oriented foreign investment during the liberalization period of 1990 to 2010, especially compared with competitors such as China and India. Adopting an institutionalist perspective, I argue that multinational firm investment profiles can be partly explained by the characteristics of investment promotion policies and bureaucracies charged with their implementation. Brazil's FDI policies were passive and non-discriminating in the second half of the 1990s, but became more ive under Lula. Investment promotion efforts have often been undercut by weakly coordinated and inconsistent institutions. The paper highlights the need for active, discriminating investment promotion policies if benefits from non-traditional FDI are to be realized. JEL Classification: F2; F5; F6; L2; O3.

Suggested Citation

  • Patrick J. W. Egan, 2015. "Crawling up the value chain: domestic institutions and non-traditional foreign direct investment in Brazil, 1990-2010," Brazilian Journal of Political Economy, Center of Political Economy, vol. 35(1), pages 156-174.
    • Handle: RePEc:ekm:repojs:v:35:y:2015:i:1:p:156-174:id:219
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/219/209
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    More about this item

    Keywords

    multinational enterprises; foreign direct investment; Brazil; industrial policy; investment promotion; innovation; export promotion;
    All these keywords.

    JEL classification:

    • F2 - International Economics - - International Factor Movements and International Business
    • F5 - International Economics - - International Relations, National Security, and International Political Economy
    • F6 - International Economics - - Economic Impacts of Globalization
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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