Foreign Direct Investment, Host Country Factors and Economic Growth
This paper analyses how the levels of economic development, human capital, financial development and the qualities of the economic and political environments in host countries simultaneously affects the impact of aggregate inflows of Foreign Direct Investment (FDI) on economic growth. Multiple interaction terms are employed between inward FDI and each of the host country factors mentioned above. The System GMM estimator is applied to a panel of 111 countries from 1981 to 2005. The results show that the level of economic development, human capital and quality of the political environment all significantly affect the relationship between inward FDI and growth
Volume (Year): XXX (2011)
Issue (Month): 1 (May)
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- Blomström, Magnus & Globerman, Steven & Kokko, Ari, 1999.
"The Determinants of Host Country Spillovers from Foreign Direct Investment: Review and Synthesis of the Literature,"
SSE/EFI Working Paper Series in Economics and Finance
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Oxford Economic Papers,
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- L.R. de Mello Jr., 1996. "Foreign Direct Investment-Led Growth: Evidence from Time Series and Panel Data," Studies in Economics 9615, School of Economics, University of Kent.
- Magnus Blomstrom & Robert E. Lipsey & Mario Zejan, 1992. "What Explains Developing Country Growth?," NBER Working Papers 4132, National Bureau of Economic Research, Inc.
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