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Trade, foreign direct investment and economic growth in Asian economies
[journal article]
Abstract Despite the increasing role of foreign direct investment (FDI) in economic development, very limited research has been carried out on the causal links between trade, FDI and economic growth in Asian economies. This study examines empirically the interplay between exports, imports, FDI and economic g... view more
Despite the increasing role of foreign direct investment (FDI) in economic development, very limited research has been carried out on the causal links between trade, FDI and economic growth in Asian economies. This study examines empirically the interplay between exports, imports, FDI and economic growth for nine Asian economies by conducting multivariate causality tests in the VECM framework. The results reveal two-way causal connections between trade, inward FDI, inward merger and acquisitions (M&As), and growth for most of the sample economies. There is a unidirectional causal link running from outward M&As to growth and trade. These findings suggest that export expansion, import liberalisation, FDI inflows and inward M&As are integral elements of the growth process in Asian economies.... view less
Document language
English
Publication Year
2009
Page/Pages
p. 1603-1612
Journal
Applied Economics, 41 (2009) 13
DOI
https://doi.org/10.1080/00036840701579176
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)