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The Causal Relationship between Information and Communication Technology and Foreign Direct Investment

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  • Roghieh Gholami

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  • Sang-Yong Tom Lee
  • Almas Heshmati

Abstract

This paper investigates the simultaneous causal relationship between investments in information and communication technology (ICT) and foreign direct investment (FDI), with reference to its implications on economic growth. For the empirical analysis we use data from 23 major countries with heterogeneous economics development for the period 1976–99. [Discussion Paper No. 2003/30]

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Bibliographic Info

Paper provided by eSocialSciences in its series Working Papers with number id:3196.

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Date of creation: Nov 2010
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Handle: RePEc:ess:wpaper:id:3196

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Related research

Keywords: foreign direct investment; FDI; information and communication technology; ICT; stationarity; co-integration; causality;

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  1. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, Econometric Society, vol. 49(4), pages 1057-72, June.
  2. Jordan Rappaport, 2000. "How does openness to capital flows affect growth?," Research Working Paper, Federal Reserve Bank of Kansas City RWP 00-11, Federal Reserve Bank of Kansas City.
  3. Linda S. Goldberg & Michael Klein, 1996. "Foreign direct investment, trade, and real exchange rate linkages in developing countries," Proceedings, Federal Reserve Bank of San Francisco, Federal Reserve Bank of San Francisco, pages 73-100.
  4. Marcelo Soto, 2000. "Capital Flows and Growth in Developing Countries: Recent Empirical Evidence," OECD Development Centre Working Papers 160, OECD Publishing.
  5. Ann E. Harrison & Brian J. Aitken, 1999. "Do Domestic Firms Benefit from Direct Foreign Investment? Evidence from Venezuela," American Economic Review, American Economic Association, American Economic Association, vol. 89(3), pages 605-618, June.
  6. Braconier, Henrik & Baldwin, Richard E. & Forslid, Rikard, 1999. "Multinationals, Endogenous Growth and Technological Spillovers: Theory and Evidence," Working Paper Series, Research Institute of Industrial Economics 519, Research Institute of Industrial Economics.
  7. Markusen, James R. & Venables, Anthony J., 1999. "Foreign direct investment as a catalyst for industrial development," European Economic Review, Elsevier, Elsevier, vol. 43(2), pages 335-356, February.
  8. Borensztein, E. & De Gregorio, J. & Lee, J-W., 1998. "How does foreign direct investment affect economic growth?1," Journal of International Economics, Elsevier, Elsevier, vol. 45(1), pages 115-135, June.
  9. Haddad, Mona & Harrison, Ann, 1993. "Are there positive spillovers from direct foreign investment? : Evidence from panel data for Morocco," Journal of Development Economics, Elsevier, Elsevier, vol. 42(1), pages 51-74, October.
  10. Anderson, T. W. & Hsiao, Cheng, 1982. "Formulation and estimation of dynamic models using panel data," Journal of Econometrics, Elsevier, Elsevier, vol. 18(1), pages 47-82, January.
  11. Sebnem Kalemli-Ozcan & Laura Alfaro & Selin Sayek & Areendam Chanda, 2002. "FDI and Economic Growth: The Role of Local Financial Markets," Macroeconomics, EconWPA 0212007, EconWPA.
  12. Kamal Saggi, 2002. "Trade, Foreign Direct Investment, and International Technology Transfer: A Survey," World Bank Research Observer, World Bank Group, World Bank Group, vol. 17(2), pages 191-235, September.
  13. Romer, Paul, 1993. "Idea gaps and object gaps in economic development," Journal of Monetary Economics, Elsevier, Elsevier, vol. 32(3), pages 543-573, December.
  14. Root, Franklin R & Ahmed, Ahmed A, 1979. "Empirical Determinants of Manufacturing Direct Foreign Investment in Developing Countries," Economic Development and Cultural Change, University of Chicago Press, vol. 27(4), pages 751-67, July.
  15. Xu, Bin, 2000. "Multinational enterprises, technology diffusion, and host country productivity growth," Journal of Development Economics, Elsevier, Elsevier, vol. 62(2), pages 477-493, August.
  16. Chakrabarti, Avik, 2001. "The Determinants of Foreign Direct Investment: Sensitivity Analyses of Cross-Country Regressions," Kyklos, Wiley Blackwell, Wiley Blackwell, vol. 54(1), pages 89-113.
  17. Sims, Christopher A, 1972. "Money, Income, and Causality," American Economic Review, American Economic Association, American Economic Association, vol. 62(4), pages 540-52, September.
  18. Lunn, John, 1980. "Determinants of U.S. direct investment in the E.E.C. : Further evidence," European Economic Review, Elsevier, Elsevier, vol. 13(1), pages 93-101, January.
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Citations

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Cited by:
  1. Heshmati, Almas, 2007. "A Model for Industrial Development of the Federal Region of Kurdistan: Science and Technology Policy, Instruments and Institutions," IZA Discussion Papers 3213, Institute for the Study of Labor (IZA).
  2. Heshmati, Almas, 2007. "Establishment of Science Parks in the Federal Region of Kurdistan," IZA Discussion Papers 3252, Institute for the Study of Labor (IZA).
  3. Valeria Costantini & Paolo Liberati, 2011. "Technology transfer, institutions and development," Departmental Working Papers of Economics - University 'Roma Tre' 0135, Department of Economics - University Roma Tre.
  4. Hung, Chih-Young & Chiang, Yi-Hui, 2009. "Does an upper limit on foreign direct investment matter?: The case of Taiwan," Journal of Asian Economics, Elsevier, Elsevier, vol. 20(5), pages 549-560, September.
  5. Francesco Crespi & Valeria Costantini, 2007. "Environmental Regulation and the Export Dynamics of Energy Technologies," Working Papers, Fondazione Eni Enrico Mattei 2007.53, Fondazione Eni Enrico Mattei.
  6. John Anyanwu, 2011. "Working Paper 136 - Determinants of Foreign Direct Investment Inflows to Africa, 1980-2007," Working Paper Series, African Development Bank 327, African Development Bank.
  7. John C. Anyanwu, 2012. "Why Does Foreign Direct Investment Go Where It Goes?: New Evidence From African Countries," Annals of Economics and Finance, Society for AEF, vol. 13(2), pages 425-462, November.
  8. Heshmati, Almas & Davis, Rhona, 2007. "The Determinants of Foreign Direct Investment Flows to the Federal Region of Kurdistan," IZA Discussion Papers 3218, Institute for the Study of Labor (IZA).
  9. Elina Berghäll, 2008. "Revealing Agglomeration Economies with Stochastic Frontier Modelling in the Finnish ICT Industry," Discussion Papers, Government Institute for Economic Research Finland (VATT) 435, Government Institute for Economic Research Finland (VATT).
  10. Heshmati, Almas, 2004. "Growth, Inequality and Poverty Relationships," IZA Discussion Papers 1338, Institute for the Study of Labor (IZA).

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