Abstract
The purpose of this article is to present the process of (late) internationalization of Spanish companies occurred between the years of 1990 and 2000, its determinants and the degree of involvement of the State in this process. We can point out some determinants in this process, such as: a fall in the profitability of the domestic market, a shrinking of the Spanish market, imminent danger of the acquisition of Spanish companies in the local market due to trade and financial openness. We conclude that this process was not fortuitous. There was a clear perception by the government that this process would not only be relevant but also necessary for the entrance of Spain in the international economic and geo-political set. JEL Classification: F21; F23.
Highlights
The purpose of this article is to present the process of internationalization of Spanish companies occurred between the years of 1990 and 2000, its determinants and the degree of involvement of the State in this process
We can point out some determinants in this process, such as: a fall in the profitability of the domestic market, a shrinking of the Spanish market, imminent danger of the acquisition of Spanish companies in the local market due to trade and financial openness
There was a clear perception by the government that this process would be relevant and necessary for the entrance of Spain in the international economic and geo-political set
Summary
We can point out some determinants in this process, such as: a fall in the profitability of the domestic market, a shrinking of the Spanish market, imminent danger of the acquisition of Spanish companies in the local market due to trade and financial openness. We conclude that this process was not fortuitous. Os aportes financeiros espanhóis foram tão intensos para esta região que colocou a Espanha como o segundo grande investidor na América Latina, ficando atrás apenas dos Estados Unidos. O estoque de IDE espanhol na Europa chegou a representar quase 60% do total em 2008, enquanto que o destinado à América Latina foi de apenas 28% (Ministerio de Economía e Competitividad)
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