Table 2.

A Summary of key indicators of the studied cases

SOEType of state
ownership		Logic of internationalizationCharacteristics of internationalization
INVAPSubnationalMarket-drivenGradual and diversified
EPMSubnationalMarket-drivenGradual and diversified
YPFCentral StateNon-market reasons in key momentsDrastic leapfrogging and concentrated
ENAPCentral StateNon-market reasons in key momentsModerated leapfrogging and concentrated
EcopetrolCentral StateNon-market reasons in key momentsModerated leapfrogging and concentrated
Source: Authors’ own construction
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