Multinational firms and the extractive sectors in the 21st century: Can they drive development?

Rajneesh Narula

No 2017-041, MERIT Working Papers from United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT)

Abstract: Historically, extractive sector MNEs have been seen as an obstacle to sustainable development, because they operated in enclaves with limited local engagement. Import-substitution policies aimed to increase the local benefits of these resources, restricting FDI. Since liberalisation, extractive MNEs have re-engaged with developing countries through looser governance structures with greater potential for linkages. Despite the potential, few host countries have seen meaningful MNE-led development because of weak domestic firms and poor location advantages. New MNEs from emerging economies have not shown a greater propensity to local linkages. Only countries that have continued to invest in location advantages have seen substantial benefits.

Keywords: sustainable development; MNEs; linkages; emerging economies; extractives; natural resources; infrastructure; enclaves (search for similar items in EconPapers)
JEL-codes: F23 F54 F63 O14 (search for similar items in EconPapers)
Date: 2017-09-21
New Economics Papers: this item is included in nep-int
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Journal Article: Multinational firms and the extractive sectors in the 21st century: Can they drive development? (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:unm:unumer:2017041

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