Outward Foreign Direct Investment and Economic Growth: Evidence from Japan and Singapore
This article aims at analyzing the role of foreign direct investment (FDI) outflows in economic performance and the impact of economic growth on outward FDI with the data of two high income Asian countries: Japan and Singapore. The results show that there is a short-run bidirectional causality between outward FDI and GDP per capita for Singapore, but a long-run bidirectional causality for Japan. In the short-run, per capita income of Japan Granger causes its outward FDI.
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