The better understanding of the interconnections between MNE activities and the objectives of policy makers is under the radar of scholars at least since the 1960s. In this paper we review the extent and emmerging prespectives on, and approach to, international business policy and particularly, we explore the importance of policy on outward internationalization based on three theoretical branches of economic literature - rational, behavioural and institutional economics. From this literature emerges the rationale for government policy to promote the internationalization of domestic firms is to secure returns to the domestic economy that firms alone are unable to appropriate. In fact, this idea lies on the argument that without public intervention, the level and speed of internationalization would fall below what would is thought best for domestic society.
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