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FDI and Growth in Central and Southern Eastern Europe

  • Elvira Sapienza

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    This paper examines the role of FDI in promoting growth in 25 Central and Southern Eastern Europe (CSEE) using a dynamic panel approach that includes lags of involved variables to mitigate the problem of serial correlation. It adopts also a ‘general-to-specific' approach to deal with the problem of the omitted variable and uses different estimation methods to control for heterogeneity and autocorrelation. The main finding is that FDI has a positive and significant impact on economic growth in accordance with theory.

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    File URL: http://www.dsems.unifg.it/q122009.pdf
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    Paper provided by Dipartimento di Scienze Economiche, Matematiche e Statistiche, Universita' di Foggia in its series Quaderni DSEMS with number 12-2009.

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    Length: 30 pages
    Date of creation: Jul 2009
    Date of revision:
    Handle: RePEc:ufg:qdsems:12-2009
    Contact details of provider: Postal: Largo Papa Giovanni Paolo II, 1 -71100- Foggia (I)
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    Web page: http://www.dsems.unifg.it

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    1. Jozef Konings, 2000. "The Effects of Foreign Direct Investment on Domestic Firms: Evidence from Firm Level Panel Data in Emerging Economies," William Davidson Institute Working Papers Series 344, William Davidson Institute at the University of Michigan.
    2. Brian Aitken & Ann Harrison & Robert E. Lipsey, 1995. "Wages and Foreign Ownership: A Comparative Study of Mexico, Venezuela and the United States," NBER Working Papers 5102, National Bureau of Economic Research, Inc.
    3. Ann E. Harrison & Brian J. Aitken, 1999. "Do Domestic Firms Benefit from Direct Foreign Investment? Evidence from Venezuela," American Economic Review, American Economic Association, vol. 89(3), pages 605-618, June.
    4. Brenton, Paul & Di Mauro, Francesca, 1999. "The Potential Magnitude and Impact of FDI flows to CEECs," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 14, pages 59-74.
    5. Nauro F. Campos & Yuko Kinoshita, 2002. "Foreign Direct Investment as Technology Transferred: Some Panel Evidence from the Transition Economies," William Davidson Institute Working Papers Series 438, William Davidson Institute at the University of Michigan.
    6. Barro, R.J., 1989. "Economic Growth In A Cross Section Of Countries," RCER Working Papers 201, University of Rochester - Center for Economic Research (RCER).
    7. Tibor Scitovsky, 1954. "Two Concepts of External Economies," Journal of Political Economy, University of Chicago Press, vol. 62, pages 143.
    8. Jasminka Sohinger, 2005. "Growth and Convergence in European Transition Economies : The Impact of Foreign Direct Investment," Eastern European Economics, M.E. Sharpe, Inc., vol. 43(2), pages 73-94, March.
    9. Bhagwati, Jagdish, 1994. "Free Trade: Old and New Challenges," Economic Journal, Royal Economic Society, vol. 104(423), pages 231-46, March.
    10. Brenton, Paul & DiMauro, Francesca & Lücke, Matthias, 1998. "Economic integration and FDI: an empirical analysis of foreign investment in the EU and in Central and Eastern Europe," Kiel Working Papers 890, Kiel Institute for the World Economy.
    11. Lucian Cernat & Radu Vranceanu, 2002. "Globalisation and Development: New Evidence from Central and Eastern Europe," Comparative Economic Studies, Palgrave Macmillan, vol. 44(4), pages 119-136, December.
    12. Robert E. Lipsey, 2006. "Measuring the Impacts of FDI in Central and Eastern Europe," NBER Working Papers 12808, National Bureau of Economic Research, Inc.
    13. David Greenaway & David Sapsford, . "What does Liberalisation do for Exports and Growth?," Working Papers ec4/94, Department of Economics, University of Lancaster.
    14. Hiranya K. Nath, 2005. "Trade, Foreign Direct Investment and Growth: Evidence from Transition Economies," Working Papers 0504, Sam Houston State University, Department of Economics and International Business.
    15. 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.
    16. Xu, Bin, 2000. "Multinational enterprises, technology diffusion, and host country productivity growth," Journal of Development Economics, Elsevier, vol. 62(2), pages 477-493, August.
    17. Romer, Paul, 1993. "Idea gaps and object gaps in economic development," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 543-573, December.
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