Table Of ContentInternational 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
organization and governance. The IPE series has tracked its development in both
analysis and structure over the last three decades. It has always had a concentration
on the global South. Now the South increasingly challenges the North as the centre
of development, also reflected in a growing number of submissions and publications
on indebted Eurozone economies in Southern Europe.
An indispensable resource for scholars and researchers, the series examines a variety
of capitalisms and connections by focusing on emerging economies, companies and
sectors, debates and policies. It informs diverse policy communities as the established
trans-Atlantic North declines and ‘the rest’, especially the BRICS, rise.
Titles include:
Hans van Zon
GLOBALIZED FINANCE AND VARIETIES OF CAPITALISM
David Begg
IRELAND, SMALL OPEN ECONOMIES AND EUROPEAN INTEGRATION
Lost in Transition
Steen Fryba Christensen and Li Xing (editors)
EMERGING POWERS, EMERGING MARKETS, EMERGING SOCIETIES
Global Responses
Wayne Hope
TIME, COMMUNICATION AND GLOBAL CAPITALISM
Tim di Muzio and Jesse Salah Ovadia (editors)
ENERGY, CAPITALISM AND WORLD ORDER
Toward a New Agenda in International Political Economy
Maureen Mackintosh, Geoffrey Banda, Paula Tibandebage and Watu Wamae (editors)
MAKING MEDICINES IN AFRICA
The Political Economy of Industrializing for Local Health
Eris D. Schoburgh, John Martin and Sonia Gatchair (editors)
DEVELOPMENTAL LOCAL GOVERNANCE
A Critical Discourse in ‘Alternative Development’
Jessica Chia-yueh Liao
DEVELOPMENTAL STATES AND BUSINESS ACTIVISM
East Asia’s Trade Dispute Settlements
Richard Münch
THE GLOBAL DIVISION OF LABOUR
Development and Inequality in World Society
Jakub M. Godzimirski
EU LEADERSHIP IN ENERGY AND ENVIRONMENTAL GOVERNANCE
Global and Local Challenges and Responses
Md Saidul Islam and Md Ismail Hossain
SOCIAL JUSTICE IN THE GLOBALIZATION OF PRODUCTION
Labor, Gender, and the Environment Nexus
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
The Global Wireless Sector
Andrei V. Belyi
TRANSNATIONAL GAS MARKETS AND EURO-RUSSIAN ENERGY RELATIONS
Silvia Pepino
SOVEREIGN RISK AND FINANCIAL CRISIS
The International Political Economy of the Eurozone
Ryan David Kiggins (editor)
THE POLITICAL ECONOMY OF RARE EARTH ELEMENTS. RISING POWERS
AND TECHNOLOGICAL CHANGE
Seán Ó Riain, Felix Behling, Rossella Ciccia and Eoin Flaherty (editors)
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
The Political Economy of Banking
Kate Ervine and Gavin Fridell (editors)
BEYOND FREE TRADE
Alternative Approaches to Trade, Politics and Power
Ray Kiely
THE BRICS, US ‘DECLINE’ AND GLOBAL TRANSFORMATIONS
Philip Fountain, Robin Bush and R. Michael Feener (editors)
RELIGION AND THE POLITICS OF DEVELOPMENT
Critical Perspectives on Asia
Markus Fraundorfer
BRAZIL’S EMERGING ROLE IN GLOBAL SECTORAL GOVERNANCE
Health, Food Security and Bioenergy
Katherine Hirschfeld
GANGSTER STATES
Organized Crime, Kleptocracy and Political Collapse
Matthew Webb and Albert Wijeweera (editors)
THE POLITICAL ECONOMY OF CONFLICT IN SOUTH ASIA
Matthias Ebenau, Ian Bruff and Christian May (editors)
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
International Political Economy Series
Series Standing Order ISBN 978–0–333–71708–0 hardcover
Series Standing Order ISBN 978–0–333–71110–1 paperback
You can receive future titles in this series as they are published by placing a standing
order. Please contact your bookseller or, in case of difficulty, write to us at the address
below with your name and address, the title of the series and one of the ISBNs quoted
above.
Customer Services Department, Macmillan Distribution Ltd, Houndmills,
Basingstoke, Hampshire RG21 6XS, England
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
may be made without written permission. No portion of this publication
may be reproduced, copied or transmitted save with written permission. In
accordance with the provisions of the Copyright, Designs and Patents Act
1988, or under the terms of any licence permitting limited copying issued
by the Copyright Licensing Agency, Saffron House, 6–10 Kirby Street, London
EC1N 8TS.
Any person who does any unauthorized act in relation to this publication
may be liable to criminal prosecution and civil claims for damages.
First published 2016 by
PALGRAVE MACMILLAN
The authors have asserted their rights to be identified as the authors of this
work in accordance with the Copyright, Designs and Patents Act 1988.
Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited,
registered in England, company number 785998, of Houndmills, Basingstoke,
Hampshire RG21 6XS.
Palgrave Macmillan in the US is a division of Nature America, Inc., One New
York Plaza, Suite 4500 New York, NY 10004-1562.
Palgrave Macmillan is the global academic imprint of the above companies
and has companies and representatives throughout the world.
ISBN 978-1-349-69390-0 ISBN 978-1-137-48029-3 (eBook)
DOI: 10.1057/9781137480293
Distribution in the UK, Europe and the rest of the world is by Palgrave
Macmillan®, a division of Macmillan Publishers Limited, registered in England,
company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS.
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
