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Relationship between Energy Consumption and Economic Growth: Empirical Evidence for Malaysia
Mohd Shahidan Shaari,Nor Ermawati Hussain,Mohammad Shariff Ismail
Business Systems Review , 2013, DOI: 10.7350/bsr.b02.2013
Abstract: This paper aims to examine the relationship between energy consumptions and economic growth and to address policy problems on energy consumption in Malaysia by using data from 1980 to 2010. Johansen co-integration is employed to analyze the data. Findings show that energy consumptions are related to economic growth. The Granger causality model is used to measure the causal effect of energy consumption and gross domestic product. The results indicate that oil and coal consumption does not Granger cause economic growth and vice versa. Causality runs from economic growth to electricity consumption. A unidirectional relationship exists between gas and economic growth, with causality running from electricity use to economic growth. Therefore, a policy to reduce gas utilization will harm economic growth in Malaysia.
THE RELATIONSHIP BETWEEN FINANCIAL LIBERALIZATION, FDI AND ECONOMIC GROWTH: AN EMPIRICAL TEST FOR MENA COUNTRIES  [PDF]
KHAZRI Bilel,DJELASSI Mouldi
Economics and Finance Review , 2011,
Abstract: The debate on the relation between financial liberalisation FDI and economic growth is more ambiguous. Since the recommendations of Mc Kinnon (1973) and Shaw (1973) for a policy of financial liberalization and going to more recent theorical and empirical research, this relation have been paradoxical. The aim of this paper is to analyze empirically the relation between financial liberalization FDI and economic growth in MENA countries. On the basis of a data relating to 6 MENA countries observed over the period 1986-2010, the result of our study shows that there is a negative relation between financial liberalization and economic growth. According to the FDI-economic growth, our finding indicates on a positive relation. Our study joins the literature on the effect of FDI, but it’s divergent for the effect of financial liberalization on the economic growth.
The Effect of FDI on the Relationship between Fiscal Decentralisation and Economic Growth in Vietnam: Empirical Evidence from Provincial Data  [PDF]
Nguyen Van Bon
Theoretical Economics Letters (TEL) , 2019, DOI: 10.4236/tel.2019.96132
Abstract: Fiscal decentralization not only promotes economic growth but brings more power to local governments in attracting FDI inflows as well. However, economists and policy-makers often strongly debate the influence of FDI on the fiscal decentralization-growth relationship. This paper empirically investigates the role of FDI in the relationship between fiscal decentralization and economic growth for a panel dataset of 52 provinces in Vietnam during the period 2007-2016 using the two-step GMM Arellano-Bond and FE-2SLS estimators. The estimated results confirm that fiscal decentralization and FDI significantly enhance economic growth, but their interaction terms impede growth rate. In addition, public investment is a significant determinant. These findings suggest some important policy recommendations for central governments in developing countries, especially Vietnam.
The FDI- Led- Growth Hypothesis in ASEAN- 5 Countries: Evidence from Cointegrated Panel Analysis  [cached]
Rudra Prakash Prakash Pradhan
International Journal of Business and Management , 2009, DOI: 10.5539/ijbm.v4n12p153
Abstract: The paper works out the relationship between foreign direct investment (FDI) and economic growth in the five ASEAN countries namely, namely Indonesia, Malaysia, Philippines, Singapore and Thailand over the period 1970-2007. The empirical analysis is based on cointegration and causality test, both at the individual level and panel level. The results confirm that foreign direct investment and economic growth are cointegrated at the panel level, indicating the presence of long run equilibrium relationship between them. This is, however, true only for Singapore and Thailand at the individual country level. The Granger causality test further gives evidence that there is bidirectional causality between foreign direct investment and economic growth both at the panel level as well as individual country level except Malaysia.
The Impact of FDI and Financial Sector Development on Economic Growth: Empirical Evidence from Asia and Oceania
Yen Li Chee,Mahendhiran Nair
International Journal of Economics and Finance , 2010, DOI: 10.5539/ijef.v2n2p107
Abstract: This paper empirically examines if financial sector development is an important precondition for foreign direct investment (FDI) to enhance economic growth in the Asia-Oceania region. The study will also examine whether the impact is dependent on the stages of development of the countries. Panel data methods (fixed effects-estimator and random effects-estimator) were used to analyse the relationship between FDI, financial sector development and economic growth on a sample of 44 Asia and Oceania countries for the period 1996-2005. The empirical analysis showed that financial sector development enhances the contribution of FDI on economic growth in the region. It also showed that the complementary role of FDI and financial sector development on economic growth is most important for least developed economies in the region. Key strategies to enhance the role of FDI and financial development on economic growth in developing and least developed Asia and Oceania countries are also discussed in the paper.
Empirical Analysis of the Relationships between inward FDI and Business Cycles in Malaysia  [cached]
Manal Suliman Omer,Liu Yao
Modern Applied Science , 2011, DOI: 10.5539/mas.v5n3p157
Abstract: Globalization has been spreading macro economic effects around the world as well as fueling firms’ cross-national activities. Are there any links between these two influences? This paper chose Malaysia as subject and examined the causal relationships between inward foreign direct investment (FDI) and business cycles. A set of models based on Granger Causality test and VAR Impulse Responses were constructed. Time-series data covered from 1970 to 2008. And the findings clearly indicated that in the case of Malaysia, there is evidence of bi-directional causality and long-run relationships between firms’ (foreign) activities (inward FDI) and business cycle developments in a long term.
A VAR analysis of the connection between FDI and economic growth in Romania  [PDF]
Bianca Maria LUDO?EAN (STOICIU)
Theoretical and Applied Economics , 2012,
Abstract: The impact of FDI on economic growth is neither homogeneous, nor completely clarified. Due to the accumulation of capital in the host economy, FDI is expected to encourage the incorporation of new inputs and technologies in the process of production. However, the impact of FDIon economic growth is not so shaped up in empirical studies. Accordingly, while some studies remarked a positive impact of FDI on economic growth, others showed a negative relationship between the two variables. In this article, we carried out an analysis of vector autoregressive type (VAR), so as to identify the relationship between FDI and economic growth in Romania between1991-2009. The main conclusion of our study is that the FDI volume does not initiate growth; and that economic growth is an important factor in terms of attracting FDI in Romania.
Measuring the Impact of Fdi on Economic Growth in Nigeria  [cached]
M.S. Ogunmuyiwa,O.J. Ogunleye
Current Research Journal of Social Science , 2012,
Abstract: This study investigates the impact of FDI on Nigeria’s economic growth process. In an attempt to do this, the paper tests the validity of the modernization or depending hypothesis by employing various econometric tools such as Augmented Dickey Fuller (ADF) and Phillips Perron (PP) tests, Johansen Cointegration test, the Error Correction Mechanism (ECM) and Granger Causality test on time series data from 1970-2008. The results reveal that a long run relationship exists between the variables and a unidirectional causality from FDI to growth was also established. Thus, empirical findings support the modernization hypothesis that FDI is growth promoting in Nigeria.
FDI, Employment, and Economic Growth of Beijing City: Mechanism and Empirical Test  [PDF]
Yunmeng Li, Liyan Liu
Theoretical Economics Letters (TEL) , 2019, DOI: 10.4236/tel.2019.96130
Abstract: This study was set out to investigate the linkages between employment, FDI and economic growth of Beijing city, and the mechanism of FDI’s impact on employment and the city’s economic growth. Channels of FDI’s spillover mechanism on employment and economic growth are identified. And based on sixteen district-level data of Beijing city from 2006 to 2017, we use panel data model to test the linkages between FDI, employment and city’s economic growth. Findings show that for the six inner-city districts with well-developed economy structure and city infrastructure, both FDI and Employment have a positive influence on the economic growth; while for the ten outer-city districts, economic growth seems to be fueled by employment and fixed capital investment.
An Empirical Analysis on the Impact of FDI on China's Economic Growth  [cached]
Xiaohong Ma
International Journal of Business and Management , 2009, DOI: 10.5539/ijbm.v4n6p76
Abstract: Since 90s in 20th century, along with the establishment of applying the socialist market economy mechanism, China has gained considerable achievements in using foreign capitals. FDI (Foreign Direct Investment) has already become one of important source of capitals for Chinese modernization construction. China is the county attracting the most FDI in the world at present. Therefore, this paper tends to study the benefit of China using foreign capitals in perspective of FDI’s impacts on GDP according to data from 1985 to 2008, which is meaningful for China making best use of foreign capitals and driving the economic development in China.
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