Economia e Politica Industriale

, Volume 42, Issue 3, pp 343–370 | Cite as

Multinational enterprises from emerging economies: what theories suggest, what evidence shows. A literature review

  • Alessia Amighini
  • Claudio Cozza
  • Elisa Giuliani
  • Roberta Rabellotti
  • Vittoria Giada ScaleraEmail author


The phenomenon of Emerging Economy Multinational Enterprises (EMNEs) and their internationalization process have sparked the debate over the appropriateness of International Business theories to study EMNEs’ internationalization processes. The literature has extensively investigated what distinguishes EMNEs from Advanced Country Multinational Enterprises (AMNEs). This review summarizes and discusses some of the issues that have mostly attracted scholarly debate in this research area. We discuss the specificities of EMNEs: how they differ from AMNEs with respect to three very important and well studied topics: first, country-specific and firm-specific advantages; second, motivations for investing abroad; and third, different modes of entry into foreign markets. We conclude that EMNEs do differ from AMNEs, although these differences may be contingent and transitory.


Emerging Economy Multinational Enterprises Country-specific advantages Firm-specific advantages Foreign direct investment strategies Mode of entry 

JEL classification

F23 O32 



We thank two anonymous referees for helpful comments and acknowledge the financial support from Riksbanken Jubileumsfund (EU and Global Challenges Program). The authors alone are responsible for its contents, which do not necessarily reflect the views or opinions of the Riksbanken Jubileumfund.


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Copyright information

© Associazione Amici di Economia e Politica Industriale 2015

Authors and Affiliations

  • Alessia Amighini
    • 1
  • Claudio Cozza
    • 2
  • Elisa Giuliani
    • 3
    • 6
  • Roberta Rabellotti
    • 4
  • Vittoria Giada Scalera
    • 5
    Email author
  1. 1.DiSEI, Università del Piemonte OrientaleNovaraItaly
  2. 2.DEAMS, Università di TriesteTriesteItaly
  3. 3.DEM, Università di PisaPisaItaly
  4. 4.DSPS, Università di PaviaPaviaItaly
  5. 5.DIG, Politecnico di MilanoMilanItaly
  6. 6.CIRCLE, Lund UniversityLundSweden

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