Re-Think Russian Investment in Southern Africa
Russia’s direct investment of about USD 3 billon in Southern Africa over the past decade has placed before the country’s government and corporate sector two choices in the accelerating race among foreign investors into Africa. The first choice is to follow the established path of direct investment from developed economies that has, in the words of a famous African leader Walter Rodney, ‘underdeveloped Africa’ and involved a serious negative environmental impact. The second choice is one that corresponds with the former Soviet Union’s policy of mutually advantageous cooperation with Africa. In the current context, this will prove possible only through joint cooperation to achieve environmental sustainability and economic diversification requiring long-term planning and innovation. The purpose of this interdisciplinary empirical research paper is to investigate the current and future state of environmental practices in joint ventures between Russia and Southern Africa as compared with other patterns of cooperation among emerging market economies.
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- Theodore H. Moran & Edward M. Graham & Magnus Blomstrom, 2005. "Does Foreign Direct Investment Promote Development?," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 3810, January.
- L. Alan Winters & Shahid Yusuf, 2007. "Dancing with the Giants: China, India, and the Global Economy," World Bank Publications, The World Bank, number 6632.
- Dilek Aykut & Andrea Goldstein, 2006. "Developing Country Multinationals: South-South Investment Comes of Age," OECD Development Centre Working Papers 257, OECD Publishing.
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