Are foreign direct investments a robust factor for sustainable development?

Munteanu Paula (), Enache Andreea-Oana () and Vasile Razvan ()
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Munteanu Paula: PhD at „Costin C. Kirițescu” National Institute for Economic Research, Romanian Academy, Bucharest, Romania
Enache Andreea-Oana: PhD at Institute of National Economy, Romanian Academy, Bucharest, Romania
Vasile Razvan: PhD student at „Costin C. Kirițescu” National Institute for Economic Research, Romanian Academy, Bucharest, Romania

Proceedings of the International Conference on Business Excellence, 2022, vol. 16, issue 1, 1027-1037

Abstract: Sustainable development has seen a world in globalization, but the latest major financial crisis has caused the withdrawal of much capital to countries of origin, so that more and more specialists recognize a certain process of deglobalization that is accelerated by Industry 4.0. The industry is reconfiguring and migrating from the Asian world to its countries of origin, producing modern, innovative and environmentally friendly technologies. Meanwhile, experts around the world are concerned with formulating economic theories and models that allow predictability, given that they are far behind as a result of the rapid pace of change in the global economy. Disruptive factors have emerged, while the deciding factor is looking for appropriate levers to continue to achieve sustainable development goals. Based on these premises, current analysis proposes to deepen the link between foreign direct investment and gross national income. The current analysis aims to highlight the close causal link that continues to exist between financial factor and sustainable development. This is an element of vulnerability, even for less developed countries as Romania. In the absence of other sources of funding and adequate measures from the decision-maker, the exploitation of resources and the implementation of activities in strategic sectors will continue to depend largely on the decisions taken by multinational companies, to the detriment of sustainable development objectives that the host country it has.

Keywords: sustainable development; globalization; foreign direct investments; gross national income; deciding factor; investment factor (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:poicbe:v:16:y:2022:i:1:p:1027-1037:n:13

DOI: 10.2478/picbe-2022-0095

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