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

In: Managing FDI for Development in Resource-Rich States

Author

Listed:
  • Lou Anne Barclay

    (The University of the West Indies)

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).

Suggested Citation

  • Lou Anne Barclay, 2015. "The Importance of Institutional Efficiency to Resource-Driven, FDI-Facilitated Development," Palgrave Macmillan Books, in: Managing FDI for Development in Resource-Rich States, chapter 1, pages 7-21, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-51609-1_2
    DOI: 10.1057/9781137516091_2
    as

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