FDI, Finance and Growth: Further Empirical Evidence from a Panel of 73 Countries
Applied Economics and Finance
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Title |
FDI, Finance and Growth: Further Empirical Evidence from a Panel of 73 Countries
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Creator |
Asteriou, Dimitrios; Professor of Quantitative Methods, Hellenic Open University Moudatsou, Argiro; Technological Educational Institute of Crete |
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Description |
The aim of this study is to investigate whether the level of financial development can make a significant contribution to the Foreign Direct Investment’s (FDI) positive impact on economic growth. In other words, to examine whether the contribution of FDI on growth is relatively more important in countries with well-developed financial markets compared to those with the less-developed ones. The time period of the empirical research spans from 1988-2009, using yearly macroeconomic data for a sample of 73 developing countries. Our empirical methodology consists of panel-growth regressions. Our results suggest that the FDI make substantial contribution to growth where financial systems function effectively, such as high-income countries, while the FDI impact is found to be insignificant in cases where relatively weaker financial systems exist.
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Publisher |
Redfame Publishing
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Date |
2014-10-11
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Type |
info:eu-repo/semantics/article
Peer-reviewed Article info:eu-repo/semantics/publishedVersion |
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Format |
application/pdf
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Identifier |
http://redfame.com/journal/index.php/aef/article/view/480
10.11114/aef.v1i2.480 |
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Source |
Applied Economics and Finance; Vol 1, No 2 (2014); 48-57
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Language |
eng
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Relation |
http://redfame.com/journal/index.php/aef/article/view/480/493
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Rights |
Submission of an article implies that the work described has not been published previously (except in the form of an abstract or as part of a published lecture or academic thesis), that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, in English or in any other language, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication. Copyrights for articles published in Redfame journals are retained by the authors, with first publication rights granted to the journal. The journal/publisher is not responsible for subsequent uses of the work. It is the author's responsibility to bring an infringement action if so desired by the author.
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