Sustainable Investment Strategies for Rural Development
DOI:
https://doi.org/10.47941/ijdcs.2172Keywords:
Sustainable Development, Rural Development, Government Structures, Community Engagement, Public-Private Partnerships (PPPs)Abstract
Purpose: The general objective of this study was to analyze sustainable investment strategies for rural development.
Methodology: The study adopted a desktop research methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library.
Findings: The findings reveal that there exists a contextual and methodological gap relating to sustainable investment strategies for rural development. Preliminary empirical review revealed that sustainable investment strategies had the potential to significantly improve socio-economic and environmental outcomes in rural areas. Effective strategies were found to address challenges such as poverty and infrastructure deficits while promoting environmental sustainability. The success of these strategies relied heavily on their alignment with local needs, the robustness of governance structures and the integration with broader rural development policies. Investments in renewable energy and infrastructure were particularly impactful, but their benefits varied based on local context and community engagement.
Unique Contribution to Theory, Practice and Policy: The Theory of Sustainable Development, Institutional Theory and Social Capital Theory may be used to anchor future studies on sustainable investment strategies. The study recommended developing tailored investment frameworks to address the specific needs of rural areas, strengthening local governance and institutional capacities to enhance transparency and stakeholder engagement, and promoting community involvement through capacity-building initiatives. It also suggested leveraging public-private partnerships to pool resources and expertise, ensuring long-term financial sustainability through innovative financing mechanisms, implementing robust monitoring and evaluation systems to track project impact, and encouraging policy integration and coordination to align investments with broader rural development objectives.
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