Emerging Market Global Players Project
International Investment Syllabus Project
Memo to Obama Administration on "Improving the International Investment Regime"
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Emerging Market Global Players Project
The Emerging Market Global Players (EMGP) Project, a collaborative effort led by the VCC, brings together researchers on FDI from leading institutions in emerging markets to identify annually and rank emerging market based multinational enterprises (MNEs). The ranking lists – based on the level of foreign assets held by emerging market MNEs – and their accompanying analysis should be of interest to researchers, academics, bankers, investors, the media, and MNEs.
More than a dozen ranking lists have been or will be published, covering some 250 emerging market MNEs from: Argentina, Brazil, China, Colombia, India, Israel, Mexico, Russia, Slovenia, South Africa, Taiwan Province of China, and Turkey. All of the MNE ranking lists are posted on this website and those of the partner institutions. For additional information, please contact the EMGP Global Project Coordinator, Dr. Vishwas Govitrikar, or send an e-mail to lsachs1@law.columbia.edu.
China: 2009 Ranking of Chinese Multinationals
The School of Management at Fudan University and the Vale Columbia Center are releasing the results of their second annual survey of Chinese multinationals on December 17, 2009. The report on the results, which draws mainly on 2007 data, identifies 18 leading outward investors from China that together had USD 106 billion in foreign assets, USD 91 billion in foreign sales, and nearly 134,000 employees abroad. The sectoral distribution of the top Chinese multinationals was fairly even, with six firms in natural-resource-related activities (oil, metals), five in manufacturing (cars & trucks, computers), five in labor-intensive service industries (construction, transport), and one each in utilities and diversified activities.
download pdf of 2009 Ranking of Chinese Multinationals
download press release of 2009 Ranking of Chinese Multinationals
download pdf of FUDAN-VCC 2007 Ranking of Chinese MNEs (Download in Chinese) (Download in Spanish)
Mexico: 2009 Ranking of Mexican Multinationals
The Institute for Economic Research (IIEc) at the National Autonomous University of Mexico and the Vale Columbia Center released the results of their first survey of Mexican multinationals on December 10, 2009. The report on the results, which draws mainly on 2008 data, identifies 19 leading outward investors from Mexico that together had USD 97 billion in foreign assets, USD 58 billion in foreign sales, and 190,000 employees abroad. The most common industries among the companies on the list are food and beverages (four firms) and non-metallic minerals and telecommunications (three each). But a number of other industries are also represented on the list, including mining, oil & gas, steel & metal products, auto parts, chemicals & petrochemicals, paper & paper products, and retail trade.
download pdf of 2009 Ranking of Mexican Multinationals
download press release of 2009 Ranking of Mexican Multinationals
Slovenia: 2009 Ranking of Slovenian Multinationals
The Centre of International Relations (CIR) at the University of Ljubljana and the Vale Columbia Center released the results of the second annual survey of Slovenian multinationals on December 7, 2009. The report on the survey, which draws mainly on 2008 data, lists 23 leading Slovenian outward investors that together had € 4.5 billion in foreign assets, € 7 billion in foreign sales, and 29,000 employees abroad. The list is dominated by manufacturing firms but also includes companies in retail trade, power supply and transport.
download pdf of 2009 Ranking of Slovenian Multinationals
download press release of 2009 Ranking of Slovenian Multinationals
download pdf of CIR-CPII 2008 Ranking of Slovenian MNEs
Turkey: 2009 Ranking of Turkish Multinationals
Kadir Has University (KHU), the Foreign Economic Relations Board (DEIK), and the Vale Columbia Center released the results of the first ever survey of Turkish multinationals on December 3, 2009. The report on the survey, which draws mainly on 2007 data, lists 12 leading Turkish multinationals that together had nearly USD 16 billion in foreign assets, USD 12 billion in foreign sales, and 72,000 employees abroad. The list is dominated by family-owned conglomerates but also includes firms in infrastructure, communications, energy, and manufacturing.
download pdf of 2009 Ranking of Turkish MNEs
download press release of 2009 Ranking of Turkish MNEs (Download in Turkish)
Russia: 2009 Ranking of Russian Multinationals
The Institute of World Economy and International Relations (IMEMO) of the Russian Academy of Sciences and the Vale Columbia Center released the results of their 2009 survey of Russian multinationals on December 2, 2009. The report on the survey, which draws mainly on 2008 data, lists 20 leading Russian multinationals that together had USD 118 billion in foreign assets, USD 266 billion in foreign sales, and 190,000 in foreign employment. While companies in the oil & gas, steel, and non-ferrous metals sectors control the majority of Russian foreign assets, firms in many other industries (including telecoms, transport, electricity, machinery and chemicals) have also begun investing abroad.
download pdf of 2009 Ranking of Russian MNEs
download press release of 2009 Ranking of Russian MNEs
Previous rankings of Russian Multinationals (by SKOLKOVO Moscow School of Management and the VCC):
2008 Ranking of Russian MNEs (released November 2008)
2007 Ranking of Russian MNEs (released December 2007)
Brazil: 2009 Ranking of Brazilian MNEs
Sociedade Brasileira de Estudos e Empresas Transnacionais e da Globalização Econômica (SOBEET), a Brazilian think tank dedicated to research into the internationalization of the Brazilian economy; Valor Econômico, Brazil’s premier business newspaper; and the Vale Columbia Center released the 2009 ranking of Brazilian multinationals on October 29, 2009. The report, which covers the period 2006-2008, lists 57 leading Brazilian multinationals that together had $21 billion in foreign assets, $40 billion in foreign sales, and 158,500 foreign employees in 2008.
download pdf of 2009 Ranking of Brazilian MNEs
download press release of 2009 Brazilian Ranking
Download pdf of FDC-CPII 2007 Ranking of Brazilian MNEs (released in December 2007 by Fundação Dom Cabral and the CPII)
Israel: 2009 Ranking of Israeli MNEs
Hebrew University, Tel Aviv University, the Manufacturers Association of Israel and the Vale Columbia Center released the 2009 ranking of Israeli multinational enterprises on September 2, 2009. The report, which draws on 2007 data, lists 20 leading Israeli multinationals that together had $12 billion in foreign assets, $26 billion in foreign sales, and 68,000 employees abroad. IT services is the only leading industry on the list, accounting for six out of 20 firms, but there is a preponderance of relatively high-tech industries: green power stations, pharmaceuticals, laser technology, satellites, electronic and optical equipment, and so forth. This ranking is an update of the 2008 ranking of Israeli multinationals, released on July 9, 2008.
download pdf of 2009 Ranking of Israeli MNEs
download press release of Israeli Ranking
download pdf of 2008 Ranking of Israeli MNEs
Argentina: ProsperAr-VCC Ranking of Argentine Multinationals
The Vale Columbia Center and ProsperAr, Argentina’s Investment Development Agency, released the results of the first ever survey of outward-investing Argentine multinational enterprises. The release includes a ranking of 19 selected Argintine multinationals.
download pdf of Ranking of Argentine MNEs (Spanish version)
download press release of Argentine Ranking (Spanish version)
India: The Growth Story of Indian Multinationals
The Vale Columbia Center and the Indian School of Business (ISB) released the results of the first ever survey of outward-investing Indian multinational enterprises. The release includes a ranking of 24 selected Indian multinationals based on 2006 data.
download pdf of ISB Ranking of Indian MNEs
download press release of 2006 ISB Ranking
EMGP Events and Roundtables
A number of partners in the EMGP project participated in a session on “Outward investment from emerging markets in a time of crisis,” at the OECD Global International Investment Forum in Paris, December 8, 2009. Based on recent work, they discussed general trends discernible in outward investment from emerging markets, the impact of the financial crisis and recession, whether FDI protectionism has been a factor in decline or delay, and how home countries are helping/hindering outward FDI from emerging markets. This session was followed by a workshop during which methodological issues and plans for a conference next year were discussed.
The EMGP project held a special Roundtable on Emerging Market Multinationals in a Time of Crisis on August 20, 2009, immediately following the Five Diamond conference in Nova Lima, Brazil.
World Investment and Political Risk 2009
The VCC conducted a survey of investors from emerging markets on political risk perceptions and mitigation for the World Investment and Political Risk 2009 report, published by the Multilateral Investment Guarantee Agency of the World Bank Group. The report examines the state of political risk in the emerging post-crisis investment landscape and offers a snapshot of political risk perceptions of the largest multinational enterprises and perspectives of the political risk insurance industry. The full report is available here.
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International Investment Syllabus Project
One immediate result of the Second Columbia International Investment Conference, “What’s Next in International Investment Law and Policy?” (October 30-31, 2007), was the launch of an international investment “syllabus project”. Professor Andrea K. Bjorklund (akbjorklund@ucdavis.edu), from University of California at Davis, School of Law, is leading the project on behalf of the Vale Columbia Center on Sustainable International Investment.
The ultimate objective of the project is to construct model syllabi for international investment law and make it available to institutions of higher learning throughout the world, especially in emerging markets. The first step in achieving this objective was to ascertain what classes are currently being offered and their content. Therefore, we have collected syllabi in the area of international investment law and related public policy issues and are making them available on the Center’s website. The second step will be a consultative process involving investment professionals, including academics, arbitrators, counsel, and government officials, to examine the syllabi gathered, identify lacunae, and discuss different models for investment law instruction. Finally, we will put together a set of model syllabi for courses on international investment law.
download pdf of each syllabus by clicking on the course name:
Stanimir A. Alexandrov |
Stanimir A. Alexandrov |
Jose E. Alvarez |
Jeffery Atik |
Perry S. Bechky |
Pieter H.F. Bekker |
Andrea K. Bjorklund |
Melaku Geboye Desta, Abba Kolo, and Thomas Walde |
Janet Dine and Peter Muchlinski |
Rudolf Dolzer |
Christopher Dugan, Borzu Sabahi, and Don Wallace Jr. |
Lorraine Eden |
Victor Essien |
Gabriel Gari, Rosa Lastra, and George Walker Law of Finance and Foreign Investment in Emerging Economies
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Norah Gallagher, Joanna Gomula-Crawford, and Loukas Mistelis |
Kenneth Hansen and Lee Zak |
Kenneth Hansen, David Khairallah, and Marcia Wiss |
Jean Kalicki and Mark Kantor |
Daoud Khairallah and Marcia Wiss International Project Finance and Investment
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Andreas Lowenfeld International Economic Transactions, International Investment International Economic Transaction Documents on International Investment |
Mark S. McNeill |
Owen D. Nee International Business and Investment Transactions with China |
Hari Osofsky |
August Reinisch |
W. Michael Reisman and Guillermo Aguilar-Alvarez |
James N. Rosenau |
John Ruggie |
Jeswald W. Salacuse |
Val Samonis |
Karl P. Sauvant |
Christoph Schreuer |
Tracey Epps |
Anthea Roberts |
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Memo to the Obama Administration on "Improving the International Investment Regime"
In January, VCC sent a Memo to President Obama’s Administration on “Improving the international investment regime.” The Memo encourages the new Administration to take a look at the current international investment regime and consider several actions that the United States might take to strengthen that regime. A number of these ideas are already on the table, and the new Administration will have to be prepared, in one way or another, to deal with them. Several eminent colleagues at Columbia University signed on to the Memo.
The full Memo, including the signatories from Columbia University, is available here.