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Globelics Conference

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Author: Rasiah, Rajah ×

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Now showing 1 - 5 of 5
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    Outward foreign direct investment from emerging economies: Trends, drivers and firm-driven home government policies
    (Georgia Institute of Technology, 2009-10-08) Rasiah, Rajah ; Gammeltoft, Peter
    Over the last decade outward foreign direct investment (OFDI) flows and stocks from the emerging economies expanded dramatically. This aggregate trend is reflective of the fact that at the firm level technological capabilities and market share of many TNCs from the emerging economies (ETNCs) have become progressively stronger. Samsung for example has become market leader in the production of the Dynamic Random Access Memories (DRAMs) and Mittal the leading manufacturer of steel.1 The significant increase of FDI from the emerging economies has given cause to revisit existing theoretical as well as policy constructs. Firstly, most theories of foreign direct investment explain flows of capital between developed economies, or from developed to developing economies. The acquisition of firms in developed countries by firms that originate from developing economies has added a new dimension to the understanding of OFDI flows. In addition, experience from foreign investment projects has contributed significantly to the development of emerging economies’ TNC’s revenues, technological capabilities and global market shares (see Monkiewicz, 1986; Hobday, 1997; Mirza, 2000; Sachwald, 2001; Mathews, 2002; UNCTAD, 2005). The purpose of this paper is twofold: first, relying on the received literature and empirical evidence we suggest that for analytical purposes the outflow of FDI from emerging economies can meaningfully be divided into three distinct ‘waves’. We discuss a set of strategic drivers of OFDI and identify their shifting relative importance throughout the period of these three waves. Second, we discuss how policy regimes towards FDI have shifted over the course of the three waves with special emphasis on contemporary home government measures for facilitating OFDI. This paper thus examines emerging economy FDI drivers and home government policies that are complementary towards supporting the activities of ETNCs. The rest of the paper is organized as follows: In section two we divide the historical FDI outflows from emerging economies into three analytical ‘waves’. Section three examines the drivers of OFDI. Section four analyzes the policy implications for home countries. Section five concludes.
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    University-industry R&D collaboration in the automotive, biotechnology and electronics firms in Malaysia
    (Georgia Institute of Technology, 2009-10-07) Rasiah, Rajah ; Govindaraju, Chandran V. G. R.
    This paper seeks to examine the drivers of R&D collaboration between firms and universities and research institutes using a sample of automotive, biotechnology and electronics firms from Malaysia. The Probit regression results indicate that R&D intensity, openness to R&D as measured by partner diversity, access to wider range of channels of information, and size matter for university-industry collaboration in the overall sample. Size was inversely correlated with the probability of R&D collaboration between firms, and universities and research institutes in all the industry samples. At the industry-level R&D intensity and importance of university as a source of knowledge were important in automotive firms, R&D intensity, channels of R&D information and partner diversity were important in biotechnology and the channels of R&D information and R&D partner diversity were important in electronics
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    Panel Discussion: Microeconomic learning and macroeconomic policies
    (Georgia Institute of Technology, 2008-09) Unger, Kurt ; Saviotti, Paolo ; Ros, Jaime ; Rasiah, Rajah ; Nelson, Richard
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    Explaining variations in semiconductor catch-up strategies in China, Korea, Malaysia and Taiwan
    (Georgia Institute of Technology, 2008-09) Rasiah, Rajah ; Kong, Xinxin ; Lin, Yeo ; Song, Jaeyong
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    Systemic Quad and Dynamic Clustering: Learning and Innovation in Penang and Johor
    (Georgia Institute of Technology, 2006-10) Rasiah, Rajah
    This paper examines the impact of the embedding environment on learning, innovation and productivity in the computer and related component industries in Penang and Johor – two regions in Malaysia facing similar federal policies but different state-level coordination. Following a review of the works of economists such as Marshall (1890), Perroux (1950, 1970), Myrdal (1957), Hirschman (1958; 1970) and Krugman (1980), geographers such as Saxenian (1994), Cooke and Morgan (1998), Garofoli (1992), Darwent (1969), Scott (1988) and Storper (1997), industrial district exponents such as Piore and Sabel (1984), Sabel (1989), Sengenberger and Pyke (1988), Hirst and Zeitlin (1991), Brusco (1986), Wilkinson and You (1995), Rasiah (1994) and Becatini (1992) and subsequently business exponents such as Porter (1990) and Best (2001) and evolutionary economists such as Nelson and Winter (1982), Freeman (1986), Lundvall (1988; 1992), Dosi (1982), Pavitt (1984), Kim (1997) and Edquist (2004) the paper constructs a stylized model for evaluating the development of learning and innovation synergies in Penang and Johor. Four policy pillars that require simultaneous coordination are identified in the systemic quad as the basis for promoting systemically technological and productivity synergies. The four pillars are: one, basic infrastructure to provide systemic stability and efficiency; two, high tech infrastructure to provide systemic support for participation in learning and innovation; three, network cohesion to provide the systemic price, technological and social relationships necessary to drive interactive and interdependent coordination; and four, integration in global markets and value chains to provide the scale, scope and competition to drive learning and innovation. This paper is organized as follows. Section 2 reviews past literature related to agglomeration economies and provides the justification for using the systemic quad as the approach for comparing computer and related component firms in Penang and Johor. Section 3 presents the methodology used and breakdown of data collected from Penang and Johor. Section 4 examines the state of development of the four pillars that drive systemic synergies in the two states. Section 5 assesses the impact of these developments on technological capabilities and productivity in these states. Section 6 finishes with the conclusions.