The Importance of Institutional Efficiency to Resource-Driven, FDI-Facilitated Development

Lou Anne Barclay
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Lou Anne Barclay: The University of the West Indies

Chapter 1 in Managing FDI for Development in Resource-Rich States, 2015, pp 7-21 from Palgrave Macmillan

Abstract: Abstract The last three decades have witnessed a resurgence of FDI into the primary sector (fuel, ores and minerals) of some resource-rich developing countries. This surge in resource-seeking FDI has been triggered by privatisation schemes implemented in the context of structural adjustment programmes; favourable price movements in some commodities, for example, oil; growing demand from rapidly industrialising countries such as China and India and technological developments (UNCTAD 2005). The statistics are illuminating; for example, during the period 1989–1991, FDI inflows into the primary sector of developing countries totalled US$602 million. However, a decade later, these inflows increased by more than 300 per cent; during the years 2001–2003, FDI inflows into the primary sector of developing countries soared to US$1,855 million, which was a little more than 75 per cent of the value of FDI entering into the primary sector globally (UNCTAD 2007).

Keywords: Industrial Policy; Primary Sector; Resource Sector; Sustained Economic Development; Horizontal Linkage (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-51609-1_2

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DOI: 10.1057/9781137516091_2

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