Innovation in Emerging Markets

331 Pages·2016·1.39 MB·English

by  Jerry Haar, Ricardo Ernst (eds.)

International Political Economy Series
Series Editor: Timothy M. Shaw, Visiting Professor, University of Massachusetts
Boston, USA and Emeritus Professor, University of London, UK
The global political economy is in flux as a series of cumulative crises impacts its
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Hans van Zon
GLOBALIZED FINANCE AND VARIETIES OF CAPITALISM
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Steen Fryba Christensen and Li Xing (editors)
EMERGING POWERS, EMERGING MARKETS, EMERGING SOCIETIES
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TIME, COMMUNICATION AND GLOBAL CAPITALISM
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Geoffrey Allen Pigman
TRADE DIPLOMACY TRANSFORMED
Why Trade Matters for Global Prosperity
Kristian Coates Ulrichsen
THE GULF STATES IN INTERNATIONAL POLITICAL ECONOMY
Eleonora Poli
ANTITRUST INSTITUTIONS AND POLICIES IN THE GLOBALISING ECONOMY
Andrea C. Simonelli
GOVERNING CLIMATE INDUCED MIGRATION AND DISPLACEMENT
IGO Expansions and Global Policy Implications
Victoria Higgins
ALLIANCE CAPITALISM, INNOVATION AND THE CHINESE STATE
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Andrei V. Belyi
TRANSNATIONAL GAS MARKETS AND EURO-RUSSIAN ENERGY RELATIONS
Silvia Pepino
SOVEREIGN RISK AND FINANCIAL CRISIS
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THE CHANGING WORLDS AND WORKPLACES OF CAPITALISM
Alexander Korolev and Jing Huang
INTERNATIONAL COOPERATION IN THE DEVELOPMENT OF RUSSIA’S
FAR EAST AND SIBERIA
Roman Goldbach
GLOBAL GOVERNANCE AND REGULATORY FAILURE
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Katherine Hirschfeld
GANGSTER STATES
Organized Crime, Kleptocracy and Political Collapse
Matthew Webb and Albert Wijeweera (editors)
THE POLITICAL ECONOMY OF CONFLICT IN SOUTH ASIA
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NEW DIRECTIONS IN COMPARATIVE CAPITALISMS RESEARCH
Critical and Global Perspectives
Jeffrey Dayton-Johnson
LATIN AMERICA’S EMERGING MIDDLE CLASSES
Economic Perspectives
Andrei Belyi and Kim Talus
STATES AND MARKETS IN HYDROCARBON SECTORS
Dries Lesage and Thijs Van de Graaf
RISING POWERS AND MULTILATERAL INSTITUTIONS
Jerry Haar and Ricardo Ernst (editors)
INNOVATION IN EMERGING MARKETS
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Innovation in Emerging
Markets
Edited by
Jerry Haar
Professor of Management and International Business, Florida International University,
senior research fellow, McDonough School of Business, Georgetown University, and Global
Fellow, Woodrow Wilson International Center for Scholars, USA
and
Ricardo Ernst
Professor of Operations and Global Logistics, Managing Director of the Global Business
Initiative, Managing Director of the Latin American Board, and former Deputy Dean, all at
the McDonough School of Business, Georgetown University, USA
INNOVATION IN EMERGING MARKETS
Introduction, conclusion, editorial matter and selection © Jerry Haar and
Ricardo Ernst, 2016
Individual chapters © Respective authors, 2016
Foreword © Ana Patricia Botín, 2016
Foreword © Samuel Lewis Navarro, 2016
Softcover reprint of the hardcover 1st edition 2016 978-1-137-48028-6
All rights reserved. No reproduction, copy or transmission of this publication
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First published 2016 by
PALGRAVE MACMILLAN
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work in accordance with the Copyright, Designs and Patents Act 1988.
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ISBN 978-1-349-69390-0 ISBN 978-1-137-48029-3 (eBook)
DOI: 10.1057/9781137480293
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Library of Congress Cataloging-in-Publication Data
Names: Haar, Jerry, editor. | Ernst, Ricardo, editor.
Title: Innovation in emerging markets / Jerry Haar, Ricardo Ernst, [editors].
Description: Houndmills, Basingstoke, Hampshire ; New York, NY : Palgrave
Macmillan, 2016. | Includes index.
Identifiers: LCCN 2015038913 | ISBN 9781137480286 (hardback)
Subjects: LCSH: Technological innovations—Economic aspects—Developing
countries. | Diffusion of innovations—Developing countries. | Economic
development—Developing countries.
Classification: LCC HC59.72.T4 I5256 2016 | DDC 338/.064091724—dc23
LC record available at http://lccn.loc.gov/2015038913
A catalog record for this book is available from the Library of Congress.
A catalogue record for the book is available from the British Library
Typeset by MPS Limited, Chennai, India.
To all the innovators in emerging markets
and the public and private institutions and
enterprises that strive to create, sustain,
and expand an ecosystem of innovation

Contents
List of Figures and Tables xi
Foreword by Ana Patricia Botín xiv
Foreword by Samuel Lewis Navarro xv
Preface and Acknowledgements xvi
List of Contributors xix
List of Abbreviations xxi
1 Introduction 1
Jerry Haar and Ricardo Ernst
2 Releasing Trapped Value: The Coming Challenge of
Innovation in the Context of Emerging Markets 32
Bhaskar Chakravorti, Graham Macmillan, and Tony Siesfeld
3 Innovation in Emerging Markets: Asia 51
Rebecca A. Fannin
4 Innovation in Emerging Markets: The Case of Latin America 72
Lourdes Casanova, Jeff Dayton-Johnson, Nils Olaya Fonstad,
and Sukriti Jain
5 Entrepreneurship and Innovation in the Middle East:
Current Challenges and Recommended Policies 87
Norean R. Sharpe and Christopher M. Schroeder
6 Innovation in Central Europe 102
Marina Dabić, Jadranka Švarc, and Emira Bečić
7 Innovation in Africa: A View from the Peaks and
Hilltops of a Spiky Continent 121
David Wernick
8 Reverse Innovation in Emerging Markets 140
Vijay Govindarajan and Ravi Ramamurti
9 Social Enterprise and Innovation in Emerging Markets 158
Leslie R. Crutchfield and Kyle Peterson
10 Social Media and Innovation 178
Michael Shoag and Tory Colvin
11 Innovation in Financial Services 196
Krzysztof Rybinski
ix