In search of FDI-led growth in developing countries: The way forward
In search of FDI-led growth in developing countries: The way forward
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DOI：
10.1016/j.econmod.2007.11.005
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发表时间：
2008-09-01
影响因子：
4.7
通讯作者：
Nowak-Lehmann, Felicitas
中科院分区：
文献类型：
--
作者：
Herzer, Dierk;Klasen, Stephan;Nowak-Lehmann, Felicitas
这篇论文挑战了普遍认为外国直接投资对发展中国家经济增长具有积极影响的普遍看法。它解决了现有文献的局限性，并使用协整技术对28个发展中国家的外国直接投资主导的增长假说进行了逐个国家的重新检验。本文发现，在绝大多数国家，FDI对经济增长既不存在长期效应，也不存在短期效应；事实上，没有一个国家存在FDI对GDP的单向正向长期效应。此外，我们的结果表明，FDI的增长影响与发展中国家的人均收入水平、教育水平、开放程度和金融市场发展水平之间没有明显的联系。(C)2007 Elsevier B.V.保留所有权利。
This paper challenges the widespread belief that FDI generally has a positive impact on economic growth ill developing countries. It addresses the limitations of the existing literature and re-examines the FDI-led growth hypothesis for 28 developing countries using cointegration techniques on a country-by-country basis. The paper finds that in the vast majority of countries, there exists neither a long-term nor a short-term effect of FDI on growth; in fact, there is not a single country where it positive unidirectional long-term effect from FDI to GDP is found. Futhermore, our results indicate that there is no clear association between the growth impact of FDI and the level of per capita income, the level of education, the degree of openness and the level of financial market development in developing countries. (C) 2007 Elsevier B.V. All rights reserved.