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Does Financial Reform Promote the Inflow of FDI? Evidence from China's Panel Data

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  • Qichun He

    (CEMA, Central University of Finance and Economics)

Abstract

This paper empirically tests whether the host country financial reform promotes the inflow of FDI. We test the hypothesis on the panel data of China. First, Granger causality tests (Granger, 1969; Sims, 1972) show that financial deregulation causes FDI and the causality is unidirectional. Second, OLS regressions show that financial deregulation has an insignificant effect (at the 10% level) on inward FDI, after controlling for other factors, and time and province effects.

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Bibliographic Info

Paper provided by China Economics and Management Academy, Central University of Finance and Economics in its series CEMA Working Papers with number 410.

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Length: 22 pages
Date of creation: May 2010
Date of revision:
Handle: RePEc:cuf:wpaper:410

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Web page: http://cema.cufe.edu.cn/
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Related research

Keywords: Gradual financial deregulation; Inward FDI; Causality; Panel data;

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  1. Blomstrom, Magnus & Lipsey, Robert E & Zejan, Mario, 1996. "Is Fixed Investment the Key to Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 111(1), pages 269-76, February.
  2. Barro, Robert J, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 407-43, May.
  3. John W. Dawson, 2001. "Causality in the Freedom-Growth Relationship," Working Papers 01-04, Department of Economics, Appalachian State University.
  4. Stephen R. Yeaple & Wolfgang Keller, 2003. "Multinational Enterprises, International Trade, and Productivity Growth: Firm-Level Evidence from the United States," IMF Working Papers 03/248, International Monetary Fund.
  5. James R. Markusen & Anthony J. Venables, 1997. "Foreign Direct Investment as a Catalyst for Industrial Development," NBER Working Papers 6241, National Bureau of Economic Research, Inc.
  6. Sims, Christopher A, 1972. "Money, Income, and Causality," American Economic Review, American Economic Association, vol. 62(4), pages 540-52, September.
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