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MULTINATIONAL CORPORATION AND FOREIGN DIRECT INVESTMENT: AN IMPLICATION FOR THIRD WORLD STATES
Abstract
Multinational Corporations and Foreign Direct Investment has been identified as agents of underdevelopment and dependency of the less develop countries, in a quest to achieve their economic motives. The institution also served as a tool in influencing the political power of the host countries, under development and dependency, theory is employed to guide the analysis of this work. The theory hinges on the fact that the multi-national corporations plays strategic role in determining production, accumulations, exploitation and politics of the world and the less develop countries in particular. The theory further explains slaves trade, colonialism and imperialism was responsible for the under development of the third world states. Content analysis is employed as a source of data collection and its revealed that the multi-national corporation/FDI are agents of both growth and underdevelopment of the host countries. The paper critically reviewed the existing literature both conceptually, empirically and thematically and relied on secondary sources of data and examination of official documents as its methodology. The paper is structured into six interrelated compartments. Also in the recommendations the role of MNCS and FDI should be inconsonant with the host country’s home grown policies and not policies from without. The major findings has it that the over reliance on the monocultural production such as oil, by the host countries is responsible for the dominant of the periphery’s economy by the multinational corporations and foreign direct investment. This is in addition to lack of political will in the part of the leaders/governments of the host countries. The paper concludes or rather recommends that the less develop countries should diversity massively to agriculture, and other sources, as an alternative to oil and other monoculture source. This is in additions to high level of exportation to international markets. Full fledge political will in the part of the host countries should be encouraged. Least or short of the above suggestions the issues raised will remain unresolved.
Keywords: Multi-national corporation; Foreign direct investment;
Third-world