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Bazile, J., Papillon, F., & Dallaire-Clavet, B. (2024). Can developing countries grasp the horn of Amalthea? The impacts of FDI on the development of host countries. Journal of International Economics and Management, 24(3), 1-24. https://doi.org/10.38203/jiem.024.3.0091
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Can developing countries grasp the horn of Amalthea? The impacts of FDI on the development of host countries
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Abstract
By analyzing 150 articles published between 2010 and 2023, this systematic literature review explores the diverse effects of foreign direct investment (FDI) on developing countries across economic, social, environmental, and sustainability dimensions. The research underscores that the ability of FDI to stimulate growth largely depends on the host country’s absorptive capacity, including factors such as human capital, financial institutions, and infrastructure. It highlights the complexities involved in evaluating FDI’s economic impacts, given the varied findings across studies, and emphasizes the growing significance of environmental and social considerations aligned with sustainable development goals. The key contributions of this study include a comprehensive synthesis of the current literature on FDI impacts, critical analysis of host countries’ absorptive capacities, exploration of discrepancies in economic impact assessments, a focus on environmental and social dimensions within FDI research, and policy recommendations aimed at harnessing FDI for sustainable and inclusive development in developing countries. These insights are crucial for comprehending the multifaceted role of FDI and devising strategies for its optimal utilization in emerging economies.
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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Keywords
Foreign direct investment, Sustainable economic development, Absorptive capacity, Inclusive growth
References
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Dang, P.T. (2019), “Sustainability comes from within: carbon dioxide emissions, FDI origin factor and institutional qualities in developing countries”, Economia Politica, Vol. 36 No. 2, pp. 439-471.
Donaubauer, J., Kannen, P. and Steglich, F. (2022), “Foreign direct investment & petty corruption in Sub-Saharan Africa: an empirical analysis at the local level”, Journal of Development Studies, Vol. 58, pp. 76-95.
Elmawazini, K. and Nwankwo, S. (2012), “Foreign direct investment: technology gap effects on international business capabilities of Sub-Saharan Africa”, Thunderbird International Business Review, Vol. 54 No. 4, pp. 457-467.
Fortanier, F. and van Wijk, J. (2010), “Sustainable tourism industry development in Sub-Saharan Africa: consequences of foreign hotels for local employment”, International Business Review, Vol. 19 No. 2, pp. 191-205.
Fowowe, B. and Shuaibu, M.I. (2014), “Is foreign direct investment good for the poor? New evidence from African countries”, Economic Change and Restructuring, Vol. 47 No. 4, pp. 321-339.
Gachino, G.G. (2011), “Determinants of FDI spillover in the Kenyan manufacturing industry: firm-level evidence”, International Journal of Business and Economics, Vol. 10 No. 3, pp. 235-255.
Giwa, B.A., George, E.O., Okodua, H. and Adediran, O.S. (2020), “Empirical analysis of the effects of foreign direct investment inflows on Nigerian real economic growth: implications for sustainable development goal-17”, Cogent Social Sciences, Vol. 6 No. 3, 1727621.
Gökmenoğlu, K.K., Apinran, M.O. and Taspinar, N. (2018), “Impact of foreign direct investment on human development index in Nigeria”, Business and Economics Research Journal, Vol. 9 No. 1, pp. 1-13.
Gökmenoğlu, K.K. and Taspinar, N. (2016), “The relationship between Co-2 emissions, energy consumption, economic growth and FDI: the case of Turkey”, Journal of International Trade & Economic Development, Vol. 25 No. 5, pp. 706-723.
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