Despite the global crisis, outward FDI by Latin American firms grew by more than 40% in 2008. The picture for 2009 is less clear, due to the expected regional GDP contraction, falling commodity prices, and tightening credit markets. Nonetheless, the authors argue that many countervailing factors...

Rising oil prices has led to increased interest to replace domestic demand for liquid fuels for transport (petrol and diesel) with biofuel production (ethanol and biodiesel). One of the pioneers in biofuel production is Brazil, which since the 1970s has established a government program that...

Much of industrial development is a gradual and path-dependent process. Countries move from the products that they already produce to others that are similar, in terms of capital requirements, knowledge and skills. Not all the feasible new products however contribute in the same way to aggregate...

This paper analyses the effects of mergers on price and welfare in markets facing congestion and derives conditions under which a merger is consumer welfare improving, even in the absence of marginal cost savings. In our context a merger basically has two effects. First, it obviously increases...

This paper models the behaviour of a Competition Authority (CA) that takes into consideration alternative future mergers when deciding whether to approve a current merger notification. The result is a more stringent CA that demands higher merger-efficiencies than the ones needed to restore...

Using a sample of 96 mergers notified to the EU Commission and logit regression techniques, we analyse the Commission's decision process. We find that the probability of a phase 2 investigation and of a prohibition of the merger increases with the parties' market shares. The probability...

This second edition of this publication provides an overview of important contemporary issues relating to foreign direct investment (FDI) and multinational enterprises for all those who are interested in this subject, but are not always in a position to follow diverse perspectives and what is...

The key role MNEs play in the global economy through international investment, and the changing landscape of such investment as MNEs as well as host and home economies adjust to changing conditions and objectives, make it important to understand trends and developments with respect to FDI and...