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Assessing the impact of foreign direct investment on regional growth - An analysis of the Spanish case

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  • Oscar Bajo-Rubio

    ()

  • Carmen Diaz-Roldan

    ()

Abstract

The massive increase in foreign direct investment inflows following the Spanish integration with the now European Union in 1986, has been one of the most important features shaping the behaviour of the Spanish economy in the last twenty years. In this paper we will try to provide an assessment of its impact on regional economic growth, using data for the 17 Spanish regions, from 1986 on. To that end, we will estimate an aggregate production function where the foreign-owned capital stock is included as an additional factor.

Suggested Citation

  • Oscar Bajo-Rubio & Carmen Diaz-Roldan, 2005. "Assessing the impact of foreign direct investment on regional growth - An analysis of the Spanish case," ERSA conference papers ersa05p498, European Regional Science Association.
  • Handle: RePEc:wiw:wiwrsa:ersa05p498
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    1. Holger Görg & David Greenaway, 2004. "Much Ado about Nothing? Do Domestic Firms Really Benefit from Foreign Direct Investment?," World Bank Research Observer, World Bank Group, vol. 19(2), pages 171-197.
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    5. Wang, Jian-Ye, 1990. "Growth, technology transfer, and the long-run theory of international capital movements," Journal of International Economics, Elsevier, vol. 29(3-4), pages 255-271, November.
    6. Robert E. Lipsey, 2000. "Interpreting Developed Countries' Foreign Direct Investment," NBER Working Papers 7810, National Bureau of Economic Research, Inc.
    7. Brems, Hans, 1970. "A Growth Model of International Direct Investment," American Economic Review, American Economic Association, vol. 60(3), pages 320-331, June.
    8. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
    9. Luis A. Rivera-Batiz & Paul M. Romer, 1991. "Economic Integration and Endogenous Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 531-555.
    10. Borensztein, E. & De Gregorio, J. & Lee, J-W., 1998. "How does foreign direct investment affect economic growth?1," Journal of International Economics, Elsevier, vol. 45(1), pages 115-135, June.
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