Does FDI Contribute to the Integration into the Global Economy? Time-Series Evidence for Ten African Countries
AbstractThis study investigates the relationship between FDI and exports in a sample of ten African countries. Using annual data from 1970 to 2007, we find that FDI causes exports in Burkina Faso and South Africa supporting the FDI-led exports point of view, while exports cause FDI in Cameroon, Cote d’Ivoire and Kenya, supporting the hypothesis that outward oriented economies attract more FDI. We find bidirectional causality in Ghana, Nigeria and Zambia, implying a virtuous circle of FDI and exports. We do not find causality for Congo and Gabon.
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Bibliographic InfoArticle provided by Africagrowth Institute in its journal African Finance Journal.
Volume (Year): 14 (2012)
Issue (Month): 1 ()
Foreign direct investment; Exports; Cointegration; Granger causality; Sub-Saharan Africa;
Find related papers by JEL classification:
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- F10 - International Economics - - Trade - - - General
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- O55 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Africa
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