Foreign Direct Investment-Led Growth: Evidence from Time Series and Panel Data
AbstractThis paper estimates the impact of foreign direct investment (FDI) on capital accumulation, and output and total factor productivity (TFP) growth in the recipient economy. Time series and panel data evidence are provided for a sample of OECD and non-OECD countries in the period 1970-90. Although FDI is expected to boost long-run growth in the recipient economy via technological upgrading and knowledge spillovers, it is shown that the extent to which FDI is growth-enhancing depends on the degree of complementarity and substitution between FDI and domestic investment. Copyright 1999 by Royal Economic Society.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Economic Papers.
Volume (Year): 51 (1999)
Issue (Month): 1 (January)
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Other versions of this item:
- L.R. de Mello Jr., 1996. "Foreign Direct Investment-Led Growth: Evidence from Time Series and Panel Data," Studies in Economics 9615, Department of Economics, University of Kent.
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- O54 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
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