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Determinants of Economic Growth in Japan: The Role of Foreign Direct Investment

Author

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  • Asheghian Parviz

    (California State University - San Bernardino)

Abstract

The purpose of this study is: (1) to examine the determinants of economic growth in Japan over time, and (2) to see if there is any time-series support for FDI-led growth hypothesis in Japan. To achieve these goals the study uses a model that is based on the postulates of de Mello. Employing a 35-year period of annual data, the model is estimated by using the Beach-Mackinnon technique, which corrects for autocorrelation. The estimation results suggest: (1) the major determinants of economic growth in Japan are total factor productivity, and domestic investment growth; (2) there are no causal relationships between foreign direct investment growth and economic growth in either direction; and (3) there are no causal relationships between foreign direct investment growth and total factor productivity growth in either direction.

Suggested Citation

  • Asheghian Parviz, 2009. "Determinants of Economic Growth in Japan: The Role of Foreign Direct Investment," Global Economy Journal, De Gruyter, vol. 9(3), pages 1-11, September.
    • Handle: RePEc:bpj:glecon:v:9:y:2009:i:3:n:9
    DOI: 10.2202/1524-5861.1509
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    Cited by:

    1. Themba G. Chirwa & Nicholas M. Odhiambo, 2017. "Sources of Economic Growth in Zambia: An Empirical Investigation," Global Business Review, International Management Institute, vol. 18(2), pages 275-290, April.
    2. Chirwa Themba G. & Odhiambo Nicholas M., 2016. "Macroeconomic Determinants of Economic Growth: A Review of International Literature," South East European Journal of Economics and Business, Sciendo, vol. 11(2), pages 33-47, December.
    3. Ali, Amjad, 2022. "Foreign Debt, Financial Stability, Exchange Rate Volatility and Economic Growth in South Asian Countries," MPRA Paper 116328, University Library of Munich, Germany, revised 2022.
    4. Audi, Marc & Ali, Amjad & Fayad Hamadeh, Hani, 2022. "Nexus among innovations, financial development and economic growth in developing countries," MPRA Paper 115220, University Library of Munich, Germany.
    5. N. P. Ravindra Deyshappriya & I. A. D. D. W. Rukshan & N. P. Dammika Padmakanthi, 2023. "Impact of Oil Price on Economic Growth of OECD Countries: A Dynamic Panel Data Analysis," Sustainability, MDPI, vol. 15(6), pages 1-14, March.
    6. Ismail Senturk & Fiaz Ahmad Sulehri & Syeda Mehak Ali, 2022. "Financial Development and Innovation Led-Growth: A Case of Selected Developing Countries," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 8(3), pages 81-97, September.

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