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Festus Baah Gyemfi and Oladipupo Sodiq Abiodun pioneer insights on FDI and sustainability

IMG 9419.jpeg File Photo: Their findings provide essential guidance for policymakers

Mon, 15 Jul 2024 Source: Georgina Dziwornu

Ghanaian scholar Festus Baah Gyemfi, an alumnus of the University for Development Studies, Ghana has made significant strides in his academic journey by collaborating with Oladipupo Sodiq Abiodun, a leading researcher at Western Michigan University, USA.

Together, they are driving groundbreaking research that explores the complex intersection between foreign direct investment (FDI), entrepreneurship, and sustainable development. Their innovative work provides fresh insights into how FDI can shape economic growth, particularly across African economies, offering a transformative perspective for policymakers and global development experts alike.

Baah’s contribution to this collaboration stems from his deep-rooted knowledge of African economies, combined with his extensive research experience. Their work delves into the impact of FDI on entrepreneurship in 32 African countries over a 13-year period, revealing an inverted U-shaped relationship between FDI inflows and entrepreneurial activity.

This finding shows that while initial investments can spur growth, excessive reliance without strategic oversight can hinder sustainable development. His contribution underscores the vital role economic freedom plays in fostering a positive environment for entrepreneurship by promoting market-oriented institutions and safeguarding property rights.

Through his contribution, Baah highlights practical strategies that African governments can adopt to maximize the benefits of foreign investment while ensuring long-term economic stability.

On the other hand, Oladipupo brings unparalleled expertise in development policy and sustainability economics to the partnership. As the lead researcher, his pioneering application of advanced econometric techniques and innovative modeling approaches has redefined the FDI-entrepreneurship nexus. Oladipupo’s work integrates economic freedom and technological innovation into their analysis, offering a more holistic understanding of how these factors influence the impact of FDI on entrepreneurial success.

His research emphasizes the critical importance of investing in digital infrastructure and research hubs, which serve as key drivers for translating foreign investment into sustainable business growth. By combining economic theory with practical solutions, Oladipupo provides actionable insights for policymakers seeking to balance economic development with technological progress.

The work of Baah and Oladipupo have profound implications for Africa’s development trajectory. By aligning institutional reforms with technological advancements, their research offers a blueprint for fostering sustainable entrepreneurship and equitable economic growth across the continent.

As Africa continues to navigate the complexities of globalization, their findings provide essential guidance for policymakers aiming to optimize FDI strategies while addressing environmental challenges and achieving long-term sustainable development. Their combined expertise serves as a valuable resource for governments, international organizations, and development agencies looking to implement evidence-based strategies that promote inclusive economic progress.

Together, Baah and Oladipupo exemplify the power of cross-continental academic collaboration. Their work bridges the gap between local knowledge and global expertise, creating a framework that can influence policies across Africa and beyond.

By focusing on tailored solutions that consider both regional and global economic contexts, they offer a transformative vision for sustainable development, which will contribute to more resilient economies, inclusive growth, and long-term stability for African nations and the world.

Columnist: Georgina Dziwornu