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Catch-Up and Leapfrogging: Emerging Economy Multinational Enterprises on the Global Stage

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  • Klaus E. Meyer

Abstract

Over the past decade, emerging economy (EE) multinational enterprises (MNEs), especially from China, have been aggressively catching up with global leaders, often by acquiring companies in advanced economies. This raises the question if and how theories of the MNE should be adjusted. I argue that the nature of their firm-specific advantages differs and, as a consequence, their motives, strategies, and operations. Also the institutional and policy environment is more complex. Yet, the phenomenon of EE MNEs can largely be explained through appropriate application of existing theories. However, important research questions remain with respect to the implementation of catch-up strategies, the role of the policy environment, and the performance implications.

Suggested Citation

  • Klaus E. Meyer, 2018. "Catch-Up and Leapfrogging: Emerging Economy Multinational Enterprises on the Global Stage," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 25(1), pages 19-30, January.
    • Handle: RePEc:taf:ijecbs:v:25:y:2018:i:1:p:19-30
    DOI: 10.1080/13571516.2017.1374624
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    Cited by:

    1. Mazé, Dominique & Chailan, Claude, 2021. "A South-South perspective on emerging economy companies and institutional coevolution: An empirical study of Chinese multinationals in Africa," International Business Review, Elsevier, vol. 30(4).
    2. Xiaoli Li & Hongqi Wang, 2021. "An Exploratory Study of How Latecomers Transform Strategic Path in Catch-Up Cycle," Sustainability, MDPI, vol. 13(9), pages 1-25, April.
    3. Ziyi Wei & Quyen T. K. Nguyen, 2020. "Chinese Service Multinationals: The Degree of Internationalization and Performance," Management International Review, Springer, vol. 60(6), pages 869-908, December.
    4. Ferran Vendrell-Herrero & Christian K. Darko & Emanuel Gomes & David W. Lehman, 2022. "Home-market economic development as a moderator of the self-selection and learning-by-exporting effects," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(7), pages 1519-1535, September.
    5. Liu, Xiaming & Yang, Na & Li, Linjie & Liu, Yuanyuan, 2021. "Co-evolution of emerging economy MNEs and institutions: A literature review," International Business Review, Elsevier, vol. 30(4).
    6. Yoon, Hyungseok & Belkhouja, Mustapha & Wei, Yingqi & Lee, Sangho, 2021. "Born to be similar? Global isomorphism and the emergence of latecomer business schools," International Business Review, Elsevier, vol. 30(5).
    7. Ding, Yibing & Zhang, Xiaojing & Liu, Ziwei, 2021. "Differences in returns to cross-border M&A in the short and long run: Evidence from Chinese listed firms," Journal of Asian Economics, Elsevier, vol. 74(C).
    8. Enderwick, Peter & Buckley, Peter J., 2021. "The role of springboarding in economic catch-up: A theoretical perspective," Journal of International Management, Elsevier, vol. 27(3).
    9. Paul Caussat, 2021. "Competitive Advantages in a Hostile, Regulated Environment: Four Multinational Banks in India," Management International Review, Springer, vol. 61(6), pages 831-879, December.

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