Does petroleum resources or market size drive foreign direct investment in Africa? New evidence from time-series analysis

Oro Ufuo Oro and Imhotep Alagidede ()

Resources Policy, 2021, vol. 71, issue C

Abstract: Market size and petroleum resources are widely regarded as the main drivers of foreign direct investment (FDI) both in the developed and developing countries. How accurate is this claim in African? We investigated this question using both the panel and time-series data of the forty-nine African countries. Our finding suggests mining of mineral ore supported by the availability of relatively cheap labour as the key driver of FDI in Africa. We recommend country-specific research to inform countries’ policy reforms.

Keywords: Petroleum resources; Market-size; Foreign direct investment (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S030142072100009X
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:71:y:2021:i:c:s030142072100009x

DOI: 10.1016/j.resourpol.2021.101992

Access Statistics for this article

Resources Policy is currently edited by R. G. Eggert

More articles in Resources Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().