The investment development path theory and small states

Small states, classified as countries with population barely exceeding 1.5 m, encounter special development challenges. Although they share common characteristics of small population and size of land area, they also differ along other characteristics such as geography, remoteness, and dispersion. Th...

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Bibliographic Details
Published in:Research in Globalization 2021-12, Vol.3, p.100048, Article 100048
Main Author: Djokoto, Justice Gameli
Format: Article
Language:English
Subjects:
Foreign direct investment
Gross domestic product
Investment development path
Malta
Small states
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Summary:Small states, classified as countries with population barely exceeding 1.5 m, encounter special development challenges. Although they share common characteristics of small population and size of land area, they also differ along other characteristics such as geography, remoteness, and dispersion. These have combined to depict them as different from large states and hence could differ from large states regarding responses to macroeconomic indicators such as foreign direct investment. Thus, this paper investigated the stages of Small states within the investment development path (IDP) framework. As a collective, developing Small states depart from the theory of the IDP. As individual Small states, some of the countries also showed stages that are inconsistent with the theory and empirical evidence. Small states need to be studied as a collective and as individual countries.
ISSN:2590-051X
2590-051X
DOI:10.1016/j.resglo.2021.100048