Foreign Direct Investment and Sustainable Development in Asia: Bibliometric Analysis and Systematic Literature Review

Abstract

Through SDG 17, the United Nations 2030 Agenda highlights the importance of international cooperation to promote sustainable development. Following the COVID-19 pandemic, this cooperation has gained greater relevance, exacerbating the need for debt relief and financial assistance for developing countries. Although global Foreign Direct Investment (FDI) increased by 3% in 2023, investments in developing countries decreased by 9%, with Asia being the most affected region. This article addresses the research gap of a bibliometric study and systematic review on the contribution of FDI to sustainable development, covering economic, social and environmental dimensions. In order to examine the existing literature, a general bibliometric analysis and a systematic review were conducted, using databases such as Scopus and Web of Science, examining studies published between 2019 and early 2024. The bibliometric analysis revealed that Asia is the most studied region, while the systematic review of 48 articles showed that the economic and environmental dimensions are the most researched, with the social dimension being the least addressed. Accordingly, we suggest several directions for future research that could enrich and strengthen the field.