Why Are Emerging Market Multinationals Different? Challenges of a New Version of State Capitalism

  • Andreas NölkeEmail author


This chapter is based on the assumption that a major feature of emerging market multinationals appears to be their close relationship with their home country states. To be sure, many Western multinational corporations (MNCs) cultivate close relationships with their home states as well (as, for instance, recently witnessed in the case of the rescue operations for the financial sector), but this chapter investigates the special quality of the relationship between the state and major corporations originating from countries outside of the recent center of the world economy, as well as exploring how this special quality affects the cross-border activities of these corporations. In order to address this task, it opts for an integration of approaches traditionally kept separate because of the conventional disciplinary separation between international business and political economy. This integration demonstrates that the expansion of emerging market multinationals heralds a new wave of state capitalism.


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Authors and Affiliations

  1. 1.Department Social SciencesGoethe UniversityFrankfurt/MainGermany

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