Spring 2006 | V ol.48, No.3 | REPRINT SERIES California Review Management The Decline of Emerging Economy Joint Ventures: The Case of India Prashant Kale Jaideep Anand © 2006 by The Regents of the University of California The Decline of Emerging Economy Joint Ventures: THE CASE OF INDIA Prashant Kale Jaideep Anand n the last few years, multinational corporations (MNCs) have become increasingly interested in pursuing business opportunities in emerging economies such as China, India, Latin America, and Eastern and Central I Europe. This is hardly surprising, since these countries present a huge potential market for their products and services. Further, the regulatory liberal- ization of the business environment in many of these countries since the early 1990s has made it easier and even more attractive for MNCs to participate in these economies. Traditionally, MNCs have relied on joint ventures (JVs) with local com- panies to enter emerging economies and exploit the opportunities they present. Until the late 1990s, JVs accounted for over 60% of the foreign direct invest- ment in these markets. However, there has recently been a marked reduction in the formation of new JVs, while many existing JVs are being terminated with increasing frequency. Further, several
California Management Review – SAGE
Published: Apr 1, 2006
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