Outward Investment from developing countries : Is the Last Wave of Investment Different ?Evidence from the BRICs

With the beginning of the new millennium, the outward foreign direct investment from the developing countries has increased with an unprecedented magnitude. This research examines the characteristics of the recent wave of investment from the developing countries and compares them to earlier periods of investment from the developing countries. The intentions of theis paper was to uncover if this recent wave of investment is different in nature from previous waves. The study goes in depth into the bahaivior of the BRIC countries which are the leaders of todays wave. The finding were that todays's increase of investment is different not only in magnitude but also in character as the leaders, especially Russia, China and Brazil have quite unique characteristics that diferentiate them from other developing countries that were the most important sources of outward investment in the past.