Resumo

There is a theoretical gap in IB studies, particularly where the internationalisation processes of companies from traditional countries differs from those from emerging countries. In this context, Wang et al. (2012) raises a fundamental question: Do EMNEs that are internationally recognised—yet without strong capabilities against the DMNEs—significantly increase their direct investments abroad? If so, what forces can act and direct the international involvement of these companies? A key dimension seems to emerge and pave the way to a new research agenda: governments.

Our objective is to explain why governments matter in the internationalisation of companies from emerging markets. We performed historical and institutional analyses of government policies directed at promoting the internationalisation of companies. Using Brazil as our descriptive and analytical setting, we identified the institutional design of Brazilian government policies for internationalisation by observing the adopted designs, how they sought to impact the internationalisation of national companies and how the government could be considered an ownership advantage of origin for EMNEs.

Studies by Luo, Xue, and Han (2009), Wang et al. (2012) and Finchelstein (2017) emphasise the premise that government policies for internationalisation could be considered institutional assets capable of causing positive impacts on company-owned assets, and this can be viewed as a country-specific advantage (CSA) at the origin (Rugman, 1980). The consideration of government policies as components of CSAs at the origin for creating company advantages for internationalisation is a new and important perspective.

Emerging market governments have developed positive attitudes toward internationalisation, creating the means for domestic companies to export or invest in international markets. Governments have been using their resources and institutional support to aid in internationalisation of domestic companies, to strengthen their competitive position or compensate for their competitive disadvantages in international markets.

Given the trajectory of the institutional frameworks of Brazilian government policies from 1960 to 2017, the conclusion can be that government efforts are historically being made in Brazil, where directions seem to shed light on two specific and linked issues: (a) the acknowledgement of IB as a problem associated with national economic development strategies and (b) the guidelines for intervention and government participation in this particular phenomenon.

Luo, Y., & Tung, R. L. (2007). International expansion of emerging market enterprises: A springboard perspective. Journal of International Business Studies, 38(4), 481-498. Luo, Y., Xue, Q., & Han, B. (2010). How emerging market governments promote outward FDI: Experience from China. Journal of World Business, 45(1), 68-79. Sarmah, P. (2003). Home country measures and FDI: implications for host country development, Monographs on Investment and Competition Policy, V. 13, 1-40. Rugman, A. M.; Verbeke, A. (1990). Global corporate strategy and trade policy. London: Routledge.