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The nexus among foreign investment, domestic capital and economic growth: Empirical evidence from the MENA region

Anis Omri () and Bassem Kahouli

Research in Economics, 2014, vol. 68, issue 3, 257-263

Abstract: The objective of this paper is to estimate an econometric model for analyzing the interrelationship among foreign direct investment, domestic capital and economic growth in 13 MENA countries by using a ‘growth model’ framework and simultaneous-equation models estimated by the generalized method of moments (GMM) during the period 1990–2010. Our empirical results show that there is bi-directional causal relationship between foreign investment and economic growth, as well as domestic capital and economic growth, and there is uni-directional causal relationship from foreign direct investment to domestic capital for the region as a whole.

Keywords: Foreign investment; Domestic capital; Economic growth; GMM-estimator (search for similar items in EconPapers)
Date: 2014
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