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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
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    1. Xu, Bin, 2000. "Multinational enterprises, technology diffusion, and host country productivity growth," Journal of Development Economics, Elsevier, vol. 62(2), pages 477-493, August.
    2. Romer, Paul, 1993. "Idea gaps and object gaps in economic development," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 543-573, December.
    3. Aitken, Brian & Harrison, Ann & Lipsey, Robert E., 1996. "Wages and foreign ownership A comparative study of Mexico, Venezuela, and the United States," Journal of International Economics, Elsevier, vol. 40(3-4), pages 345-371, May.
    4. David Greenaway & David Sapsford, . "What does Liberalisation do for Exports and Growth?," Working Papers ec4/94, Department of Economics, University of Lancaster.
    5. 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.
    6. Hiranya K Nath, 2009. "Trade, Foreign Direct Investment, and Growth: Evidence from Transition Economies," Comparative Economic Studies, Palgrave Macmillan, vol. 51(1), pages 20-50, March.
    7. repec:wdi:papers:2000-344 is not listed on IDEAS
    8. 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.
    9. Campos, Nauro F & Kinoshita, Yuko, 2002. "Foreign Direct Investment as Technology Transferred: Some Panel Evidence from the Transition Economies," Manchester School, University of Manchester, vol. 70(3), pages 398-419, June.
    10. Robert J. Barro, 1989. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc.
    11. 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.
    12. 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.
    13. 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.
    14. 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.
    15. Robert E. Lipsey, 2006. "Measuring the Impacts of FDI in Central and Eastern Europe," NBER Working Papers 12808, National Bureau of Economic Research, Inc.
    16. Bhagwati, Jagdish, 1994. "Free Trade: Old and New Challenges," Economic Journal, Royal Economic Society, vol. 104(423), pages 231-46, March.
    17. Tibor Scitovsky, 1954. "Two Concepts of External Economies," Journal of Political Economy, University of Chicago Press, vol. 62, pages 143.
    18. repec:wdi:papers:2002-438 is not listed on IDEAS
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