INCLUSIVE SIDE OF THE INFLUENCE OF FOREIGN DIRECT INVESTMENT ON SUSTAINABLE ECONOMIC DEVELOPMENT
DOI:
https://doi.org/10.32782/2787-5137-2023-1-2Keywords:
foreign direct investment, sustainable development, renewable energy, gender results, decarbonizationAbstract
Introduction. Foreign direct investment (FDI) can play a critical role in achieving the Sustainable Development Goals (SDGs). From the perspective of host countries, it has the potential to enhance growth and innovation, create quality jobs and develop human capital, improve living standards and environmental sustainability, and more. By linking domestic firms with multinational enterprises, FDI can serve as a channel for domestic firms to access international markets and integrate global value chains. However, realizing these positive contributions to sustainable development is not self-evident. Maximizing the benefits and minimizing the potential risks associated with foreign direct investment may not be the primary concern of profit-seeking investors, and may not be of sufficient concern to policymakers seeking to attract investment. While, in principle, FDI has the potential to promote sustainable development, private sector incentives and policies of both donor and host countries require careful consideration as they play a critical role in realizing this potential. The relationship between FDI and sustainable development in different countries and political contexts is still not fully explored. Goal. Analyze the impact of FDI on individual elements of sustainable development that describe the inclusive side of sustainable development goals. The results. The jobs created by the influx of FDI in renewable energy, the relationship between foreign direct investment (FDI) and industrial injuries are analyzed. Certain gendered outcomes are singled out, in particular, lower employment of women compared to men and the gender wage gap by geography. Emphasis is placed on the role of FDI in renewable energy and, accordingly, the number of jobs created per million dollars invested and the same industry and the total number of jobs created.
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