A Critical Appraisal of Foreign Direct Investment in Africa: The Political Economy Approach

  • Bamidele Folabi Seteolu
Part of the Palgrave Handbooks in IPE book series (PHIPE)


The foreign direct investment is posed as strategy for economic recovery and growth for countries in the South. The countries undergoing neo-liberal reforms rely on foreign direct investment (FDI) for economic growth and capital transfer. This chapter adopts dependency theory to examine the implications of FDI for the ownership and control of the economies in Africa. It argues that the region does not likely transcend its economic crisis and underdevelopment through heavy dependence on foreign direct investment. It insists that the deepening of local capital is the route to autonomous economic development as against dependent, neo-colonial relations.


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Copyright information

© The Author(s) 2020

Authors and Affiliations

  • Bamidele Folabi Seteolu
    • 1
  1. 1.Department of Political ScienceLagos State UniversityOjo, LagosNigeria

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