A retrospective and agenda for future research on Chinese outward foreign direct investment

Our original paper “The determinants of Chinese Outward Foreign Direct Investment” was the first theoretically based empirical analysis of the phenomenon. It utilised internalisation theory to show that Chinese state-owned firms reacted to home country market imperfections to surmount barriers to foreign entry arising from naivety and the lack of obvious ownership advantages, leveraging institutional factors including favourable policy stimuli. This special theory explained outward foreign direct investment (OFDI) but provided surprises. These included the apparent appetite for risk evinced by these early investors, causing us to conjecture that domestic market imperfections, particularly in the domestic capital market, might be responsible. The article stimulated a massive subsequent, largely successful, research effort on emerging country multinationals. In this Retrospective article we review some of the main strands of research that ensued, for the insight they offer for the theme of our commentary. Our theme is that theoretical development can only come through embracing yet more challenging, different, and new contexts, and we make suggestions for future research directions

Investments in the digital silk road

This chapter discusses opportunities for the new digital economy, a strategically important factor of the economic growth for contributing to the Central Asia Digital Silk Road concept. Focusing on new opportunities for international cooperation, including the development of digital technologies, the chapter also draws attention to the fact that technology advancement causes changes in the economic system which may result in digital inequality. It argues that the O&G industry can become a key driver of growth and development and could potentially boost competitiveness across all sectors. The authors consider a set of public policies in ICT-related sectors in Kazakhstan. These policies are focusing on diversification from the O&G sector, supporting domestic companies and research, encouraging export-oriented projects, and pushing companies to join international initiatives

The International specialisation patterns of Italian local economic systems: concentration or diversification?

Collana del Dipartimento di Scienze Economiche e Metodi Quantitativi, Facolt\ue0 di Economia, Universit\ue0 del Piemonte Orientale, Novara

The international specialisation patterns of the Italian local economic systems: concentration or diversification?”,

This paper investigates the evolution of specialization patterns for the Italian provinces over the period 1995–2005 by analysing the dynamics of the sectoral distribution in the Balassa index of revealed comparative advantages. The results show that underlying a relatively stable distribution of national comparative advantages over time, there are wide variations in local performance: only a few provinces demonstrate any stability in their specialization over the last decade, with the majority showing decreased specialization. A higher average degree of persistence for provinces with districts is found, but no systematic differences between provinces with or without industrial districts. District provinces show wide variation, with a few concentrating on their past comparative strengths, but many diversifying