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Foreign investment and growth: A case of selected African economies

Author

Listed:
  • Michael Appiah

    (School of Finance & Economics, Jiangsu University, China,)

  • Fanglin Li

    (School of Finance & Economics, Jiangsu University, China,)

  • Doreen Idan Frowne

    (Faculty of Business, Koforidua Technical University, Ghana,)

  • Daniel Tetteh Donkor

    (School of Business, University of Cape Coast, Ghana,)

Abstract

Objective: The purpose of the study is to indicate how foreign investment impact on economic growth in some selected African economies. Research Design & Methods: The study employed the Panel ARDL (PMG) technique to estimate the impact of foreign investment proxy as FDI net inflows on Growth meas- ured as GDP per capita. Findings: The results of Panel ARDL indicate that foreign investment has a positive impact on economic growth as well as a positive sign of trade openness, inflation, and labor. The study stresses that for increasing economic growth there is a need to seek more foreign investments, increase trade openness and inflation at the same time improve upon employment conditions in selected African developing countries. Contribution & Value Added: The novelty of this research is in presenting and emphasizing the significance of FDI in some selected African countries on economic growth.

Suggested Citation

  • Michael Appiah & Fanglin Li & Doreen Idan Frowne & Daniel Tetteh Donkor, 2019. "Foreign investment and growth: A case of selected African economies," International Entrepreneurship Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 5(3), pages 7-18.
    • Handle: RePEc:krk:ientre:v:5:y:2019:i:3:p:7-18
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    Citations

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    Cited by:

    1. Michael Appiah & Bright Akwasi Gyamfi & Tomiwa Sunday Adebayo & Festus Victor Bekun, 2023. "Do financial development, foreign direct investment, and economic growth enhance industrial development? Fresh evidence from Sub-Sahara African countries," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 22(2), pages 203-227, May.
    2. Alexandrov Nevski Sachs Semanou, 2022. "Economic growth in West African countries: a comparative analysis," SN Business & Economics, Springer, vol. 2(7), pages 1-22, July.

    More about this item

    Keywords

    foreign investment; emerging economies; economic growth; ardl; panel data;
    All these keywords.

    JEL classification:

    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • F35 - International Economics - - International Finance - - - Foreign Aid
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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