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Attracting MNCs and enforcing local content laws: the double breasting dilemma in less developed countries in sub-Sahara Africa

Citation

Ayentimi, DT and Burgess, J and Brown, K, Attracting MNCs and enforcing local content laws: the double breasting dilemma in less developed countries in sub-Sahara Africa, CRIMT 2015 International Conference: Institutional Change and Experimentation: Shaping the future of Work and Employment, 21-23 May 2015, Montreal, pp. 14. (2015) [Conference Extract]


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Abstract

Multinational Companies (MNCs) has become important players in international trade and development over the past three decades (UNCTAD 2012; Aseidu 2006; Meyer 2004).

Africa endowed with numerous natural resources is yet to benefit fully from such naturals resources (Aseidu 2006).

There still remain many structural and macroeconomic challenges that limit the capacity of the continent to achieve sustainable improvements in the standards of living of its people (IMF, WB, OECD).

(a) The continent low application of science, technology and innovation in the production and distribution value-chain

(b) The over-reliance on rain-fed agriculture

(c) The over-reliance on primary production without linkages to other sectors

(d) The worsening income inequalities, education and skills formation, health, social protection, poverty and unemployment

(e) Wide-spread corruption, mismanagement and institutional weaknesses.

It has become imperative for Africa to adopt strategies to attract MNCs into their economies as one of the surest way of promoting economic growth and development with a resulting benefit of spillovers.

In order to benefit fully from the activities of MNCs in these economies, they must ensure the strict enforcement of local content laws.

Item Details

Item Type:Conference Extract
Keywords:local content policy, MNCs, less developed countries
Research Division:Economics
Research Group:Applied Economics
Research Field:Economic Development and Growth
Objective Division:Economic Framework
Objective Group:Macroeconomics
Objective Field:Savings and Investments
Author:Ayentimi, DT (Dr Desmond Ayentimi)
ID Code:124012
Year Published:2015
Deposited By:Tasmanian School of Business and Economics
Deposited On:2018-02-06
Last Modified:2018-02-08
Downloads:0

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