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Direct Foreign Investment and North-South Trade: Uneven Development or Convergent Growth?

In: Development Economics and Policy

Author

Listed:
  • Amitava Krishna Dutt

Abstract

A persistent theme in the writings of Hans Singer (1950, 1975) is that direct foreign investment (DFI) from developed economies — collectively referred to here as the North — to less-developed economies — the South — has a detrimental effect on the latter and leads to uneven global development. While Singer’s view was shared by many, though by no means all, economists when he first propounded it, and for several years thereafter, it now seems to find few takers. In fact, in recent discussions of the effects of globalization, many scholars and Southern governments earlier critical of transnational corporations (TNCs) have softened or reversed their views,2 while concerns have instead been raised about jobs disappearing in Northern countries as capital moves to Southern countries with low wages and high productivity (thanks to the transfer of technology by the TNCs) in an increasingly globalized world economy.3

Suggested Citation

  • Amitava Krishna Dutt, 1998. "Direct Foreign Investment and North-South Trade: Uneven Development or Convergent Growth?," Palgrave Macmillan Books, in: David Sapsford & John-ren Chen (ed.), Development Economics and Policy, chapter 14, pages 261-286, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26769-9_14
    DOI: 10.1007/978-1-349-26769-9_14
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    Cited by:

    1. Arslan Razmi, 2021. "Capital inflows, sustained investment surges and the role of external economies of scale in a developing economy," Metroeconomica, Wiley Blackwell, vol. 72(2), pages 365-387, May.
    2. Arslan Razmi, 2005. "The Effects of Export-Oriented, FDI-Friendly Policies on the Balance of Payments in a Developing Economy: A General Equilibrium Investigation," UMASS Amherst Economics Working Papers 2005-03, University of Massachusetts Amherst, Department of Economics, revised Sep 2006.

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