Investment Policies and Investment Promotion in the Mineral Industries
Article from: OGEL Archive issue , in Roundup of Articles
Introduction
In the 1970s, misgivings about the benefits of foreign and private investment were widespread among developing countries. Politically, it was seen as an encroachment on national sovereignty and as an instrument of foreign domination over national economic development. In economic terms, foreign investment was thought to lead to excessive outflows of scarce foreign exchange, to impede industrial development and as a source of price distortions, all to the detriment of the developing country. This negative perspective was particularly apparent with respect to foreign investment in the ...