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1. INTRODUCTION World Foreign Direct Investment (FDI) has grown rapidly since the early 1980s.1 It is an important element in the economic integration in the world economy today. FDI refers to the investment undertaking of a firm in an overseas enterprise in which the foreign investor has a long-term interest as well as substantial control.2 Investment is critical for the economic prospects of developing countries. There is a strong relationship between investment and economic growth.3 Improving the investment climate of developing countries has therefore been a major topic in many publications, such as the World Development Report 2005, which is devoted to this issue. The Hashemite Kingdom of Jordan (hereafter "Jordan") is one of the developing countries which recognises the important role FDI plays in its economy. The potential benefits can take many forms such as, but not limited to, the stimulation of economic growth in general, increase of local durable employment, training of the local labour force, increase of tax revenues, transfers of technology and management know how, increased access to export markets and consequently of export volume, intensified domestic competition, increase of international competitiveness of the local entities and increased access to credit. In an effort
Journal of World Investment and Trade – Brill
Published: Jan 1, 2010
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