No Miracle Drug: Foreign Direct Investment and Sustainable Development
Author(s)
Gallagher, Kevin P.; Zarsky, Lyuba
Abstract
In the 1990s, foreign direct investment came to be seen as a ‘miracle drug’, or jumpstart to economic growth and sustainable industrial development in developing countries, and policies to attract FDI became centerpiece of national development. This chapter examines statistical and case study evidence about the impacts of FDI in developing countries on economic growth, efficiency spillovers and environmental performance. Additionally, this chapter also presents and evaluates evidence about the economic, environmental and social performance of Mexico’s FDI-led global integration strategy in the 1990s.
