FDI and its role in economic development: Do we need a new agenda?

Sanjaya Lall and Rajneesh Narula

No 19, Research Memorandum from Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT)

Abstract: Despite globalisation, the essential role of FDI in economic development has not changed. However, many mechanisms and dynamics of FDI-assisted development have changed: there is greater variation in the kinds of FDI, the benefits each offers, and the manner in which each interacts with the host economy. This introductory article attempts to place the discussions and issues raised in this special issue of The European Journal of Development Research within the wider literature on FDI and development. The papers here analyse the role of MNEs in industrial development in a ‘learning system’ perspective. They also analyse the policy tools available for using FDI for economic development in a liberalising, post-WTO world, and the constraints to doing this. While this is a nascent debate, this special issue points to a variety of ‘soft’ policy options that provide a pragmatic response to the complexities of globalisation.

Keywords: economics of technology (search for similar items in EconPapers)
Date: 2004
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