Globalisation in China, India & Russia: Emergence of National Groups and Global Strategies of Firms

No study of globalisation is possible, nor is it thinkable, without referring to China, India, Russia, that is to say, without an analysis of their firms and including them in the global network of firms. The three countries under study had socialist economies and are now going through a process of transition towards a market economy with various degrees of success and, more importantly, using different methods as far as the relationship between the State and the firms is concerned. Also, to a large extent, researchers in economics have until now viewed these countries in a somewhat unbalanced manner and they have seldom been the object of a comparative study from the perspective of the globalization of their firms. The evolution in policy issues has been strongly backed by a similar evolution in economic theory, the effects strongly felt in former socialist countries, namely Russia and China, as well as in countries which had and still have a large ‘public sector’ like India. Neither the markets nor the States are nowadays seen as perfect, and this book deals at many places much more with their subtle interactions or coordination, than opposition.

CONTENTS

List of Tables, Figures, Boxes and Appendices

Editors/Contributors

Acknowledgements

Foreword

Introduction

1. Emergence of National Groups and Global Strategies of Firms: Globalisation in China, India and Russia

JEAN-FRANCOIS HUCHET, XAVIER RICHET AND JOEL RUET

Part I : The Private in Context: Public Reforms

2. Between Bureaucracy and Market: Chinese Industrial Groups in Search of New Forms of Corporate Governance

JEAN-FRANCOIS HUCHET and XAVIER RICHET

3. Economic Reforms, Privatisations and Public Private Developments in India since 1991

JOEL RUET

4. Productivity and Competitive Challenges for the Russian Economy: Room for a More Proactive Policy?

ERIC BRUNAT and ANDREI KLEPACH

Part II : Markets and Competitivity

5. Impact of Liberalisation of Trade and Investment on Chinese Industrial Firms

JEAN-FRANCOIS HUCHET

6. Firm and Industry Response to Liberalisation in India: Theory and Evidence

MANMOHAN AGARWAL and ALOKESH BARUA

7. The Indian Power Sector in a Command Economy: Liberal Reforms or Indian-style Development?

JOEL RUET

8. Subcontracting in Indian Industries, Market Structure and Product Quality: Implications under Globalisation

AJITAVA RAYCHAUDHURI

9. India-Russia Economic Relations: Gradual Shift from State Dominant Linkages to Private Initiatives

GULSHAN SACHDEVA

Part III : Restructuring and Strategies of Firms

10. Foreign Direct Investment in China’s Automotive Industry

HUA WANG

11. On the Role of Foreign Investment in the Development of a Market Economy in China

RIGAS ARVANTIS, PIERRE MIEGE and ZHAO WEI

12. A Theory of Buy-outs in Joint Ventures

SUGATA MARJIT and PRABAL ROY CHOWDHURY

13. Asset Specificity, Partnerships and Global Strategies of Information Technology and Biotechnology Firms in India

JOEL RUET

14. Emergence and Entry of Industrial Groups in Russia: The Case of the Car Industry

XAVIER RICHET

Index