Exports and FDI: A Granger causality analysis in a heterogeneous panel

Chaido Dritsaki () and Melina Dritsaki ()
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Chaido Dritsaki: Technological University of Western Macedonia
Melina Dritsaki: Brunel University

Economics Bulletin, 2012, vol. 32, issue 4, 3128-3139

Abstract: This paper investigates the heterogenous panels Granger causality between exports and Foreign Direct Investment (FDI) for the twelve new EU countries from 1995 until 2010. The cointegration test by Pedroni (1999) shows a long run heterogenous relationship. A two-stage Engle and Granger procedure (1987), allowing for testing of heterogeneity of panel data on dynamic models, shows a bilateral causal relationship between exports and foreign direct investment both in the long and short run for the examined countries.

Keywords: Foreign Direct Investment, Exports, Granger Causality; and Heterogenous Panel, Τwelve new EU countries (search for similar items in EconPapers)
JEL-codes: C4 E2 (search for similar items in EconPapers)
Date: 2012-11-19
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