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How Does Foreign Direct Investment Affect Economic Growth?
Open accessAbstract
We test the effect of foreign direct investment (FDI) on economic growth in a cross-country regression framework, utilizing data on FDI flows from industrial countries to 69 developing countries over the last two decades. Our results suggest that FDI is an important vehicle for the transfer of technology, contributing relatively more to growth than domestic investment. However, the higher productivity of FDI holds only when the host country has a minimum threshold stock of human capital. In addition, FDI has the effect of increasing total investment in the economy more than one for one, which suggests the predominance of complementarity effects with domestic firms.
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Cited by
Capital Flows to Developing Economies: Implications for Saving and Investment
Bosworth, B. P., Collins, S. M., & Reinhart, C. M. (1999) · Brookings Papers on Economic Activity · doi:10.2307/2534664 · Cited by 580
Foreign Direct Investment, Domestic Investment and Economic Growth in China: A Time Series Analysis
Tang, S., Selvanathan, E. A., & Selvanathan, S. (2008) · The World Economy · doi:10.1111/j.1467-9701.2008.01129.x · Cited by 236
Technology spillover and TFP growth: a spatial Durbin model
Tientao, A., Legros, D., & Pichery, M. C. (2016) · International Economics · doi:10.1016/j.inteco.2015.04.004 · Cited by 81
Castellani, D. (2002) · Cambridge Journal of Economics · doi:10.1093/cje/26.1.1 · Cited by 68
Metadata
- Authors
- Borensztein, E., De Gregorio, J., & Lee, J.-W.
- Venue
- National Bureau of Economic Research
- Publisher
- National Bureau of Economic Research
- Published
- 1995-03
- OpenAlex
- W1968551480
- Cited by
- 1,305
- References
- 0
- Type
- report
- Language
- en
- Open access
- green
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- Borensztein, E., De Gregorio, J., & Lee, J.-W. (1995). How Does Foreign Direct Investment Affect Economic Growth? National Bureau of Economic Research. https://doi.org/10.3386/w5057
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