Determinants of Economic Growth in Japan: The Role of Foreign Direct Investment

Asheghian Parviz ()
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Asheghian Parviz: California State University - San Bernardino

Global Economy Journal, 2009, vol. 9, issue 3, 11

Abstract: The purpose of this study is: (1) to examine the determinants of economic growth in Japan over time, and (2) to see if there is any time-series support for FDI-led growth hypothesis in Japan. To achieve these goals the study uses a model that is based on the postulates of de Mello. Employing a 35-year period of annual data, the model is estimated by using the Beach-Mackinnon technique, which corrects for autocorrelation. The estimation results suggest: (1) the major determinants of economic growth in Japan are total factor productivity, and domestic investment growth; (2) there are no causal relationships between foreign direct investment growth and economic growth in either direction; and (3) there are no causal relationships between foreign direct investment growth and total factor productivity growth in either direction.

Keywords: economic growth; Japan; foreign direct investment (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:bpj:glecon:v:9:y:2009:i:3:n:9

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DOI: 10.2202/1524-5861.1509

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