Article
Journal of International Business Studies (2007) 38, 901–927. doi:10.1057/palgrave.jibs.8400299
Regional competitive advantage based on pioneering economic reforms: the case of Chilean FDI
Patricio Del Sol1 and Joseph Kogan2,3
- 1Industrial and Systems Engineering Department, Pontificia Universidad Católica de Chile, Santiago, Chile
- 2Escuela de Administración, Pontificia Universidad Católica de Chile, Santiago, Chile
- 3Lehman Brothers, New York, USA
Correspondence: J Kogan, Lehman Brothers, 745 Seventh Avenue, New York, NY 10019, USA. Tel:+1 212 526 4167; Fax:+1 646 758 3581; E-mail: jkogan@post.harvard.edu
Received 5 June 2004; Revised 30 December 2006; Accepted 20 February 2007; Published online 19 July 2007.
Abstract
Foreign affiliates of Chilean companies operating in Latin America were more profitable than similar local firms, but this difference in profitability has been decreasing over time. Two case studies of Chilean multinationals illustrate our hypothesis that one source of competitive advantage for Chilean firms was their know-how of business strategy during economic liberalization. Using empirical and theoretical considerations, we analyze whether this hypothesis is valid for other firms and industries.
Keywords:
FDI, Chile, economic reform, market liberalization, strategy in developing countries, emerging markets multinationals
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