A 2012 study by EPS-PEAKS investigated the relationship between state fragility, conflict and economic performance. It describes a large degree of variation among countries' experiences of conflict and foreign direct investment (FDI), with conflict accompanied by high levels of FDI in some countries and low levels of FDI in others. The study suggests that the majority of FDI in fragile states is driven by the motives of resource-seeking multinationals. While this investment can lead to economic growth, this potential is often not realised, and receiving investment solely for resource extraction can lead to further conflict: a phenomenon known as the resource curse.