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Exploring Links between FDI Inflows, Energy Consumption, and Economic Growth: Further Evidence from MENA Countries

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  • Mohamed Abdouli and Sami Hammami

    (University of Sfax, Faculty of Economics and Management of Sfax)

Abstract

This study aims to examine the nexus between economic growth, FDI inflows and energy consumption on a panel of 17 countries using a ¡®growth model¡¯ framework and simultaneous-equation models estimated by the generalized method of moments (GMM) over the 1990-2012 period. We also implement these empirical models for 17 countries selected on the basis of data availability. They include: (a) 12 Middle Eastern countries, namely: Saudi Arabia, Qatar, Oman, Kuwait, Lebanon, United Arab Emirates, Iraq, Turkey, Iran, Syria, Jordan and Yemen, (b) 5 North African countries, namely: Egypt, Morocco, Tunisia, Algeria and Libya. Our results indicate that there is a bidirectional causal relationship between FDI inflows and economic growth, as between well as energy consumption and economic growth. Besides, there is a unidirectional causal relationship between energy consumption to FDI inflows for the global panel. This implies that the increase of energy consumption increases the FDI inflows for individual and collective countries.

Suggested Citation

  • Mohamed Abdouli and Sami Hammami, 2017. "Exploring Links between FDI Inflows, Energy Consumption, and Economic Growth: Further Evidence from MENA Countries," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 42(1), pages 95-117, March.
    • Handle: RePEc:jed:journl:v:42:y:2017:i:1:p:95-117
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    More about this item

    Keywords

    Energy Consumption; FDI Inflows; Economic Growth; MENA Countries; Simultaneous Equation Models;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B27 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - International Trade and Finance
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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