【正文】 to increase its petitive position by taking advantage of what the host country has to offer for controlling the entire valuechain. All three conditions must be present or FDI may not take place (Dunning and Lundan 2021). The firmspecific advantages which constitute spillover effects of FDI (proliferation of technology, secondary employment, and enhancement of skills) are often what lessdeveloped countries need for their growth and development. The host country and 浙江理工大學(xué)經(jīng)濟(jì)管理學(xué)院本科畢業(yè)論文 3 the investor may focus on the locationspecific advantages as factors to entice higher levels of FDI inflows. When the three conditions as stated above are missing then FDI either does not occur or occurs only at very low levels. This explains why some areas of the world, especially the poorest, fail to attract FDI. Although FDI flows to Africa have increased in recent years, these represent only a small portion of the total flows to developing countries. Average annual FDI flows increased from US $ bn. in 1980, to 15 bn. during the period 2021–2021. However, Africa’s share of global flows fell from % in 1980 to about % during 2021–2021. As a percentage of total flows to developing countries, Africa’s share fell from 10% in 1980 to 7% during 2021–2021 (Cleeve 2021). Local infrastructure, effective macroeconomic policy, and reliable data of possible host nations are decisive in choice of location for foreign firms. These are often lacking in Africa. Knowledge of a country or region is crucial in the choice of location, and without this, investors may underestimate entrepreneurial opportunities or overestimate risks, pushing such locations to the periphery of the decisionmaking process. But there are investment opportunities in almost any region of Africa. According to UNCTAD (2021a), Africa offers the highest return on FDI in the world, far exceeding all other regions. While not yet as petitive as the BRIC countries, the demographics bode well for Africa as a market as more than half its population is under the age of 24. Europe’s population will lose 60 million people by 2050, however, Africa will add 900 million. Ironically, Africa’s very poverty creates opportunities: Education。 infrastructure。 and middle class aspirational consumer goods etc. (Luiz 2021). Some areas in subSaharan Africa still have deficiencies in all these areas, and more often than not, the risk profile is heightened by political and institutional instability and unpredictability and high levels of corruption (Ngowi 2021). Investors need reliable information, but too often the official statistics are lacking or unreliable and official sources cannot provide robust data on markets, business partners, and available labor (Kennedy 2021). Unfortunately, when reliable information is absent, and when all ingredients of a risky environment are present, the vicious cycle of poverty continues. FDI does not take place and the associated possible benefits cannot be exploited. This is where the instruments of solidarity with the poor and strong transnational institutions have a vital role. The International Development Association (IDA) is a division of the World Bank that helps the world’s poorest countries. IDA 企業(yè)社會(huì)責(zé)任與消費(fèi)者購(gòu)買意愿關(guān)系 研究 —— 基于在杭大學(xué)生的實(shí)證調(diào)查 4 plements the World Bank’s other lending arm, the International Bank for Reconstruction and Development (IBRD), which serves middleine countries with capital investment and advisory services. IBRD and IDA share the same staff and evaluate projects with the same rigorous standards. These mon standards encourage private investors to follow suit and resolve the informational and infrastructural deficits. from SubSaharan Countries In the Republic of South Africa, quite a few investments have been directed at the specifics of this region’s consumers and producers. One of the biggest FDI deals of 2021 was Saudi Oger’s USD180 million investment in Cell C, the new cellular operator. Also in 2021, Malaysian Resources Corporation announced a USD 200million property development. Global Environment Fund acquired forestry assets worth USD150 million billion from Mondi and formed Global Forest Products, signaling its intention to bid for stateowned forestry assets. These ventures not only contribute to improving the base for followup investments that broaden the opportunities for local small businesses, they are also directed toward improving munication throughout rural areas and providing new skills to hitherto unskilled labor (Akinboade et al. 2021). The second case is from Uganda, which in the past was shunned by investors, but has over the past 20 years attracted a significant number of investors mainly in response to the implementation of farreaching economic and structural reforms. Privatization of state enterprises and the return of confiscated enterprises and properties to the Asians who had been expelled form the country during the Idi Amin dictatorship, have positively affected the attraction of FDI. But a major impact on social development stems from the services sector FDI which has grown rapidly in Uganda. Typical of this is accounting and puter services, warehousing, transportation and munication, and other services to support the manufacturing sector. In addition, the liberalization of the economy coupled with local demand for services like mobile telephony has attracted investments from big players on both the regional and international scene, such as Vodafone and MTN. Another example for positive FDI effects is the agrobusiness investments in various subSaharan states. In recent years, agriculture is being perceived as a sector that not only offers investment