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Long Run Equilibrium Relationship Between Inward Fdi And Productivity

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  • Gwanghoon Lee

    ()
    (Department of Economics, Chung-Ang University)

Abstract

By constructing a panel dataset from nine OECD countries for the period 1971-1999 and adopting up-to-date panel cointegration estimation methods, the paper shows the robustness of long run positive relationship between inward foreign direct investment and productivities of host countries. Especially, with group mean fully modified OLS, the estimation model allows common time dummies to control possible cross-sectional dependence and also allows heterogeneous cointegrating vectors for the members of cross section. The paper also confirms the long run equilibrium relationship between domestic knowledge stocks and productivities in G7 countries.

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File URL: http://www.jed.or.kr/full-text/32-2/8.pdf
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Bibliographic Info

Article provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.

Volume (Year): 32 (2007)
Issue (Month): 2 (December)
Pages: 183-192

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Handle: RePEc:jed:journl:v:32:y:2007:i:2:p:183-192

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Web page: http://www.jed.or.kr/
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Related research

Keywords: Foreign Direct Investment; Productivity; Unit Root; Panel Cointegration;

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  1. Bruno Van Pottelsberghe & Frank Lichtenberg, 2001. "Does foreign direct investment transfer technology across borders?," ULB Institutional Repository 2013/6221, ULB -- Universite Libre de Bruxelles.
  2. Pasaran, M.H. & Im, K.S. & Shin, Y., 1995. "Testing for Unit Roots in Heterogeneous Panels," Cambridge Working Papers in Economics 9526, Faculty of Economics, University of Cambridge.
  3. Levin, Andrew & Lin, Chien-Fu & James Chu, Chia-Shang, 2002. "Unit root tests in panel data: asymptotic and finite-sample properties," Journal of Econometrics, Elsevier, vol. 108(1), pages 1-24, May.
  4. Kao, Chihwa, 1999. "Spurious regression and residual-based tests for cointegration in panel data," Journal of Econometrics, Elsevier, vol. 90(1), pages 1-44, May.
  5. Petr Hanel, 2000. "R&D, Interindustry and International Technology Spillovers and the Total Factor Productivity Growth of Manufacturing Industries in Canada, 1974-1989," Economic Systems Research, Taylor & Francis Journals, vol. 12(3), pages 345-361.
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