Nikolai Flexner (Fulbright Researcher-Central Bank of Bolivia)
Abstract
This paper employs ordinary least squares (OLS) estimation to examine the determinants of foreign direct investment (FDI) and the effect of FDI on per capita GDP growth in Bolivia over the period 1990:1-1998:4. The regression results find that the real effective multilateral exchange rate, the ratio of external debt to GDP, and a dummy representing capitalization inflows significantly impact FDI, while FDI, along with the terms-of-trade, the ratio of private sector credit to GDP, and the ratio of government spending to GDP are shown to have a statistically significant impact on per capita GDP growth. The exclusion of capitalization inflows from total FDI in the FDI determinants model has very little impact on the overall results.
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Publisher Info
Paper provided by EconWPA in its series Macroeconomics with number
0309009.
Length: 28 pages Date of creation: 05 Sep 2003 Date of revision:
26 Nov 2003 Handle: RePEc:wpa:wuwpma:0309009
Note: Type of Document - Acrobat PDF; prepared on IBM PC; to print on HP; pages: 28 ; figures: included Contact details of provider: Web page: http://129.3.20.41
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Find related papers by JEL classification: E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Boundaries of Public and Private Enterprise; Privatization; Contracting Out O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development O54 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
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