Abstract

Over the past few decades, foreign investment has received great attention from both scholars as well as international organizations alike as an impetus for fostering growth and development in host countries. Despite the robustness of the theoretical arguments underlying the relationship between foreign investment and development, empirical evidence regarding this so-called relationship across a large number of countries largely remains inconclusive at best. This article examines the interplay between actors, interests and institutions and the implications thereof for implementation of CPEC in Khyber Pakhtunkhwa province of Pakistan. The findings suggest that implementation of the CPEC has largely been shaped by particularistic interests. The findings offer implications for the mainstream theoretical arguments underlying the relationship between foreign investment and development.

Key words: China , Pakistan , Economic , Road , Development