publication . Article . 2008

the relationship between foreign direct investment and economic growth evidence from transition countries

Nicholas Apergis; Katerina Lyroudi; Athanasios Vamvakidis;
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  • Published: 07 Jul 2008 Journal: Transition Studies Review, volume 15, pages 37-51 (issn: 1614-4007, eissn: 1614-4015, Copyright policy)
  • Publisher: Springer Science and Business Media LLC
Abstract
This paper examines the importance of foreign direct investment on economic growth. Using a panel data set for 27 transition economies over the period 1991–2004 as well as the methodology of panel cointegration and causality tests, the empirical findings show that foreign direct investment does exhibit a significant relationship with economic growth, at least for those transition countries that are characterized by high levels of income and have implemented successful privatization programs.
Subjects
free text keywords: Development, Causality, Macroeconomics, Panel data, Entrepreneurship, Foreign direct investment, Economics, Transition countries, International trade, business.industry, business, Social policy, European integration, Cointegration
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