TY - CHAP
T1 - Human resource management in emerging markets
T2 - an introduction
AU - Horwitz, Frank
AU - Budhwar, Pawan
PY - 2015/2/27
Y1 - 2015/2/27
N2 - The shifting of global economic power from mature, established markets to emerging markets (EMs) is a fundamental feature of the new realities in the global political economy. Due to a combination of reasons (such as scarcity of reliable information on management systems of EMs, the growing contribution of human resource management (HRM) towards organisational performance, amongst others), the understanding about the dynamics of management of HRM in the EMs context and the need for proactive efforts by key stakeholders (e.g., multinational and local firms, policy makers and institutions such as trade unions) to develop appropriate HRM practice and policy for EMs has now become more critical than ever. It is more so given the phenomenal significance of the EMs predicted for the future of the global economy. For example, Antoine van Agtmael predicts that: in about 25 years the combined gross national product (GNP) of emergent markets will overtake that of currently mature economies causing a major shift in the centre of gravity of the global economy away from the developed to emerging economies. (van Agtmael 2007: 10–11) Despite the present (late 2013 and early 2014) slowdown in the contribution of EMs towards the global industrial growth (e.g., Das, 2013; Reuters, 2014), EMs are predicted to produce 70 per cent of world GDP growth and a further ten years later, their equity market capitalisation is expected to reach US$ 80 trillion, 1.2 times more than the developed world (see Goldman Sachs, 2010).
AB - The shifting of global economic power from mature, established markets to emerging markets (EMs) is a fundamental feature of the new realities in the global political economy. Due to a combination of reasons (such as scarcity of reliable information on management systems of EMs, the growing contribution of human resource management (HRM) towards organisational performance, amongst others), the understanding about the dynamics of management of HRM in the EMs context and the need for proactive efforts by key stakeholders (e.g., multinational and local firms, policy makers and institutions such as trade unions) to develop appropriate HRM practice and policy for EMs has now become more critical than ever. It is more so given the phenomenal significance of the EMs predicted for the future of the global economy. For example, Antoine van Agtmael predicts that: in about 25 years the combined gross national product (GNP) of emergent markets will overtake that of currently mature economies causing a major shift in the centre of gravity of the global economy away from the developed to emerging economies. (van Agtmael 2007: 10–11) Despite the present (late 2013 and early 2014) slowdown in the contribution of EMs towards the global industrial growth (e.g., Das, 2013; Reuters, 2014), EMs are predicted to produce 70 per cent of world GDP growth and a further ten years later, their equity market capitalisation is expected to reach US$ 80 trillion, 1.2 times more than the developed world (see Goldman Sachs, 2010).
UR - http://www.scopus.com/inward/record.url?scp=84957964630&partnerID=8YFLogxK
U2 - 10.4337/9781781955017.00007
DO - 10.4337/9781781955017.00007
M3 - Chapter (peer-reviewed)
AN - SCOPUS:84957964630
SN - 978-1-78195-500-0
T3 - Research handbooks in business and management series
SP - 1
EP - 18
BT - Handbook of human resource management in emerging markets
A2 - Horwitz, Frank
A2 - Budhwar, Pawan
PB - Edward Elgar
CY - Cheltenham (UK)
ER -