Influence of foreign direct investment from China on achieving the 2030 Sustainable Development Goals in African countries

Fang Ye

20 citations0/0 files storedChinese Journal of Population Resources and Environment

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International Development and Aid International Business and FDI Economic Growth and Development

Abstract

The lack of funding is one of the most important challenges in achieving the 2030 Sustainable Development Goals (SDGs) in African countries. Can foreign direct investment (FDI) from China as an important source of external financing help African countries achieve their SDGs? This study used the panel data random effects model to analyze the influence of China’s direct investment on SDG scores. Then, the study conducted the ordered probit model to examine the influence of FDI from China on the trend of achieving each SDG in Africa, with the SDGs being grouped into social, economic, and environmental dimensions. Results showed that China’s direct investment contributed to the achievement of SDGs in Africa. FDI from China positively influenced the SDG score in general and some of the 17 SDG scores including SDG 7 (Affordable and Clean Energy), SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation, and Infrastructure), SDG 12 (Responsible Consumption and Production), SDG 13 (Climate Action), and SDG 15 (Life on Land). The relationship between FDI from China and the trends for SDG 7, 8, 9, 11 (Sustainable Cities and Communities), and 14 (Life below Water) was significantly positive. However, the SDG scores above belonged to the economic and environmental dimensions, whereas FDI from China had no significant influence on the social-dimension SDG scores and trends. To further expand the scale of China’s direct investment, more investment scopes, particularly those in the social dimension, should be developed. Moreover, China–Africa cooperation should be deepened to create a good investment environment for the achievement of African countries’ SDGs and to facilitate China’s implementation of promoting the development of developing countries as mentioned in the 2030 Agenda of Sustainable Development and building the China–Africa community with a shared future.

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References

2018Effect of foreign direct investments, economic development and energy consumption on greenhouse gas emissions in developing countries 2019How does foreign direct investment contribute to Sustainable Development Goals? Evidence from African countries 2010Human Development and Foreign Direct Investment in Developing Countries: The Influence of FDI Policy and Corruption 2016China's Impact on Africa – The Role of Trade, FDI and Aid 2019The economics of China's engagement with Africa: What is the empirical evidence?

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