Globalization, emerging market economies and currency crisis in Asia : implications on economic reform and development

Author's OriginalRecent experiences in Latin America and Asia provide ample evidence that countries in the process of integration are increasingly exposed to internal and external economic shocks. More importantly, this growing vulnerability of particularly developing economies has the potential of undermining decades of development efforts. The Asian crisis clearly demonstrates that we are increasingly unable to predict the triggers of such crises, and certainly lack the institutional arrangements to contain them. This translates into the fact that our ability to manage the interaction between domestic and international economic forces is limited or undermined by certain factors. This practical outcome has the potential to delay the process of globalization and integration of developing economies into the world economy.Aybar, C. B. & Milman, C. D. (1999). Globalization, emerging market economies and currency crisis in Asia: Implications on economic reform and development. Multinational Business Review, 7(2), 37-44

A note using mergers and acquisitions to gain competitive advantage in the United States in the case of Latin American MNCs

Author's OriginalThe "new" economic and business climate in Latin America, fostered by multilateral trade agreements such as NAFTA, MERCOSUR, and the ANDEAN Pact, suggests that Latin American (LA) firms must become more aggressive and competitive in order to survive. Foreign direct investment in the form of mergers and acquisitions (M&A) is often an effective way of competing in a tough global environment. Using transactions data collected from Security Data Company's Worldwide Merger and Acquisition database, this paper analyzes the relative involvement of firms from five LA countries (Argentina, Brazil, Chile, Mexico, and Venezuela) in acquiring targets in the United States of America. Transaction characteristics examined and summarized include the annual distribution (1985-1998) of the deals, the industrial sector of the target firm, the form of acquisition method used, and the form of ownership of the target firm. The trends are analyzed, and implications for managers are indicated.Milman, C. D., D’Mello, J. P., Aybar, B., & Arbaláez, H. (2001). A note using mergers and acquisitions to gain competitive advantage in the United States in the case of Latin American MNCs. International Review of Financial Analysis, 10(3), 323-332. doi:10.1016/S1057-5219(01)00056-