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2. THE CORE CANONS OF THE EP.(II) HOW AND WHY IT HAS EVOLVED SINCE 1976.(III)INCORPORATION OF INSTITUTIONS INTO THE EP.(IV)THE FUTURE OF THE EP.. 3. THE CORE CANONS. 0 (OWNERSHIP SPECIFIC (COMPETITIVE) ADVANTAGES OF FIRMS.L (LOCATION SPECIFIC: (COMPETITIVE ) ADVANTAGES OF COUNTRIES/REGIONS.
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1. 1 THE EVOLVEMENT AND CONTEMPORARY STATE OF THE ECLECTIC PARADIGM (EP) OF INTERNATIONAL PRODUCTIONJohn H. Dunning March, 2007
2. 2 THE CORE CANONS OF THE EP.
(II) HOW AND WHY IT HAS EVOLVED SINCE 1976.
(III) INCORPORATION OF INSTITUTIONS INTO THE EP.
(IV) THE FUTURE OF THE EP.
3. 3 THE CORE CANONS 0 (OWNERSHIP SPECIFIC (COMPETITIVE) ADVANTAGES OF FIRMS.
L (LOCATION SPECIFIC: (COMPETITIVE ) ADVANTAGES OF COUNTRIES/REGIONS
4. 4 I (THE ADVANTAGES TO FIRMS IN EXPLOITING OR AUGMENTING THEIR O ADVANTAGES IN CHOSEN L BY INTERNALISATION).
5. 5
6. 6 (II) THE EVOLVEMENT OF THE EP (1) BETWEEN 1958 AND 1975: THE O & L COMPONENTS IN EXPLAINING FDI/MNE ACTIVITY.
1976: THE BIRTH OF THE EP. (NOBEL SYMPOSIUM).
1980s: THE SEPARATION OF O INTO Oa AND Ot: THE CHANGE OF NOMENCLATURE FROM THEORY TO PARADIGM.
7. 7 THE EVOLVEMENT OF THE EP (2) 1990s: (1) THE ADVENT OF ALLIANCE CAPITAL. (2) ADDING ASSET AUGMENTATION AS A MOTIVE FOR FDI.
2000s THE INCORPORATION OF INSTITUTIONAL ADVANTAGES, EMBRACING COGNITION/MOTIVATION ELEMENTS OF ACTIONS OF MARKET/EXTRA MARKET ACTORS.
8. 8 TABLE 2: TRIGGERS TO CHANGES IN GLOBAL SCENARIO AFFECTING CONTENT OF EP.
9. 9 EP AND OTHER THEORIES OF IB 1980-2000
PROCESS OF INTERNATIONALIZATION
(UPPSALA SCHOOL.)
RESOURCE BASED THEORIES (BARNEY)
COMPETITIVE ADVANTAGES (PORTER)
EVOLUTIONARY/PATH DEPENDENT THEORIES. (CANTWELL ET AL)
10. 10 APPLICATIONS OF EP (1980-2000) THE INVESTMENT DEVELOPMENT PATH
FIRM AND INDUSTRY STUDIES.
GROWTH OF THIRD WORLD MNES.
NEW FORMS OF FDI.
11. 11
12. 12
13. 13 TABLE 3: ILLUSTRATION OF IDP (2005) ROMANIAS INWARD FDI STOCK WAS $238 BILLION AND ITS OUTWARD FDI STOCK $242 MILLION IN 2005.
14. 14 INCORPORATING ASSET SEEKING FDI INTO THE EP DESIGNED TO AUGMENT EXISTING O ADVANTAGES OF FIRM.
THESE MAY BE COUNTRY OR FIRM SPECIFIC.
AFFECT STRUCTURE OF IDP.
MAINLY INTRA TRIAD IN 1990S. NOW DEVELOPING COUNTRIES ENGAGING IN THIS FORM OF FDI.
15. 15 TABLE 4: THE CHANGING LOCATION OF FDI BY MNES 1970-EARLY 2000s.
16. 16
17. 17 (III) INCORPORATING INSTITUTIONS INTO THE EP(1) INSTITUTIONS AS:
FORMAL RULES (CONSTITUTIONS, LAWS, REGULATIONS.
INFORMAL (CUSTOMS, SELF-REGULATION)
ENFORCEMENT MECHANISMS (LAWS, RETALIATION, SHAME, OUTCASTING.
18. 18
19. 19 (IV) THE FUTURE OF THE EP NATURE OF PARADIGMATIC CHANGE.
CAN IT EXPLAIN NEW FORMS OF FDI (E.G. EQUITY FUND MANAGEMENT).
NEED TO BETTER RECOGNISE INTERDEPENDENCE BETWEEN OLI VARIABLES.
NEED TO BETTER DYNAMISE EP
NEED TO INCORPORATE NON-ECONOMIC VARIABLES.