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Do we need a special theory of foreign direct investment for extractive industries?

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  • Peter J. Buckley

Abstract

Purpose - The purpose of this paper is to examine the extent to which we require a special theory of foreign direct investment (FDI) for extractive industries. Design/methodology/approach - The paper examines the general theory of FDI using internalising theory and location theory and augments this by using special features that apply to the extractive industries including the obsolescing bargaining argument. Findings - The paper shows that a special theory is clearly required to explain the particular circumstances of extractive industries. However, the received theory relying on internalisation and location elements performs well. Practical implications - Despite the current issues around extractive industries and its peculiarities, analysis of the reasons for FDI (including Chinese FDI) remains explicable by standard theory. Originality/value - FDI in the extractive industry provides a good test of the general theory of FDI and a special theory nested within this gives a great deal of insight into current issues of FDI in extractive industries.

Suggested Citation

  • Peter J. Buckley, 2008. "Do we need a special theory of foreign direct investment for extractive industries?," Journal of Chinese Economic and Foreign Trade Studies, Emerald Group Publishing, vol. 1(2), pages 93-104, June.
  • Handle: RePEc:eme:ceftpp:v:1:y:2008:i:2:p:93-104
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    Citations

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    Cited by:

    1. Nikolaos Antonakakis & Gabriele Tondl, 2011. "Do determinants of FDI to developing countries differ among OECD investors? Insights from Bayesian Model Averaging," FIW Working Paper series 076, FIW.
    2. Ivar Kolstad & Arne Wiig, 2013. "Digging in the dirt? Extractive industry FDI and corruption," Economics of Governance, Springer, vol. 14(4), pages 369-383, November.
    3. Lin, Yue, 2015. "Firm heterogeneity and location choice of Chinese firms in Latin America and the Caribbean: Corporate ownership, strategic motives and host country institutions," China Economic Review, Elsevier, vol. 34(C), pages 274-292.
    4. repec:taf:oaefxx:v:3:y:2015:i:1:p:1095851 is not listed on IDEAS

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