Abstract
Corporate multinationalization—once the privilege of firms from developed economies—is now becoming a diffuse phenomenon in emerging economies, including Latin America (UNCTAD, 2007; Goldstein, 2007). Although unprecedented in size and relevance, the current wave of internationalization from developing countries is the third to take place. Already in the 1970s and 1980s, a number of third world countries emerged from their economic status as sources of raw materials or as sweatshops, in which low-wage, low-skilled workers produced goods for the richer nations. They were themselves manufacturing and consuming high-quality, high-technology products and establishing foreign subsidiaries, most often in other developing countries (Wells, 1983).
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© 2012 Andrea Goldstein and César Baena
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Goldstein, A., Baena, C. (2012). Drivers of Internationalization in Emerging Economies: Comparing Petrobras and PDVSA. In: Marinov, M.A., Marinova, S.T. (eds) Impacts of Emerging Economies and Firms on International Business. Palgrave Macmillan, London. https://doi.org/10.1057/9781137032546_10
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DOI: https://doi.org/10.1057/9781137032546_10
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