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Growth Effects of Foreign and Domestic Investment
Abstract
Over tha past few years, numerous studies in sociology have concluded that foreign investment harms poor nations. These studies have focused on the coefficient for foreign capital stock, controlling for "flow" (new investment), and-defying logic-have inferred that a negative coefficient for stock reflects "dependency effects" that retard economic growth. Since capital stock is the denominator for investment rate, the greater the stock, the lower the investment rate, for a given level of new investment. Hence the negative coefficient for capital stock found in dependency studies indicates a beneficial investment effect, not a harmful effect. This point is demonstrated by reanalysis of the data used in dependency studies. In these data, foreign investment spurs growth. Earlier analysts have concluded otherwise only because their conclusions have belied their findings.
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Citations
Cited by
Modernization, Cultural Change, and the Persistence of Traditional Values
Inglehart, R., & Baker, W. E. (2000) · American Sociological Review · doi:10.2307/2657288 · Cited by 4,524
(2005) · Cited by 3,670
Kwon, R. (2011) · The Sociological Quarterly · doi:10.1111/j.1533-8525.2010.01194.x · Cited by 18
Metadata
- Authors
- Firebaugh, G.
- Venue
- American Journal of Sociology
- Publisher
- University of Chicago Press
- Published
- 1992-07
- Volume
- 98
- Issue
- 1
- Pages
- 105-130
- ISSN
- 0002-9602 (ISSN-L)
- 1537-5390
- OpenAlex
- W1998071409
- Cited by
- 334
- References
- 0
- FWCI
- 13.72
- Type
- journal article
- Language
- en
- Open access
- closed
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- Firebaugh, G. (1992). Growth Effects of Foreign and Domestic Investment. American Journal of Sociology. https://doi.org/10.1086/229970
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
