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Foreign Direct Investment and Economic Growth in LDCs: Some Further Evidence

In: Creating an Internationally Competitive Economy

Author

Listed:
  • VN Balasubramanyam
  • Mohammed Salisu
  • David Sapsford

Abstract

The phenomenon of foreign direct investment (FDI) has generated a large and still growing literature. Particular interest in the last decade (no doubt encouraged by the development of the so-called ‘new’ theory of economic growth) has been directed to the role played by FDI in determining the pace of economic growth in less-developed countries (LDCs), and it this topic that forms the subject matter of this chapter. Our motivation in writing this chapter is twofold. First, while the relationship between FDI and growth has been intensely debated in the literature, the precise nature of the relationship and the preconditions required for FDI to promote growth and the mechanisms through which it does so remain largely unexplored. Second, recent developments in growth theory provide a convenient framework within which to analyse the relationship between FDI and growth. Indeed, many of the growth-promoting factors, such as human capital and externalities, have long been recognized to be the main ingredients of FDI.

Suggested Citation

  • VN Balasubramanyam & Mohammed Salisu & David Sapsford, 2001. "Foreign Direct Investment and Economic Growth in LDCs: Some Further Evidence," Palgrave Macmillan Books, in: Harry Bloch & Peter Kenyon (ed.), Creating an Internationally Competitive Economy, chapter 13, pages 233-249, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-55706-2_13
    DOI: 10.1057/9780230557062_13
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    Cited by:

    1. Monnet Benoît Patrick Gbakou & Mustapha Sadni Jallab & René Sandretto, 2008. "Foreign Direct Investment, Macroeconomic Instability And Economic Growth in MENA Countries," Post-Print halshs-00303694, HAL.

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