Template-type: ReDif-Paper 1.0 
Author-Name: Narula, Rajneesh
Author-Email: r.narula@henley.ac.uk
Author-workplace-name: Henley Business School, University of Reading
Title: Multinational firms and the extractive sectors in the 21st century: Can they 
	 drive development?
Abstract: Historically, extractive sector MNEs have been seen as an obstacle to 
	 sustainable development, because they operated in enclaves with limited 
	 local engagement. Import-substitution policies aimed to increase the 
	 local benefits of these resources, restricting FDI. Since liberalisation,
	 extractive MNEs have re-engaged with developing countries through
	 looser governance structures with greater potential for linkages.
	 Despite the potential, few host countries have seen meaningful MNE-led
	 development because of weak domestic firms and poor location advantages.
	 New MNEs from emerging economies have not shown a greater propensity
	 to local linkages. Only countries that have continued to invest in location
	 advantages have seen substantial benefits.
Keywords: sustainable development, MNEs, linkages, emerging economies, extractives,
	 natural resources, infrastructure, enclaves
Classification-JEL: F23, F63, F54, O14 
Series: UNU-MERIT Working Papers
Creation-Date: 20170921
Number: 2017-041
File-URL: https://unu-merit.nl/publications/wppdf/2017/wp2017-041.pdf
File-Format: application/pdf
File-Size: 275 kb
Handle: RePEc:unm:unumer:2017041