The Impact of Foreign Direct Investments and Remittances on Economic Growth: A Case Study in Central and Eastern Europe
Calin-Adrian Comes (),
Elena Bunduchi (),
Valentina Vasile () and
Daniel Stefan ()
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Calin-Adrian Comes: Financial-Accounting Department, Faculty of Business and Law, Petru Maior University of Tîrgu-MureŞ, Tîrgu-MureŞ 540 088, MUREŞ County, Romania
Elena Bunduchi: Financial-Accounting Department, Faculty of Business and Law, Petru Maior University of Tîrgu-MureŞ, Tîrgu-MureŞ 540 088, MUREŞ County, Romania
Daniel Stefan: Financial-Accounting Department, Faculty of Business and Law, Petru Maior University of Tîrgu-MureŞ, Tîrgu-MureŞ 540 088, MUREŞ County, Romania
Sustainability, 2018, vol. 10, issue 1, 1-16
This paper investigates the impact of Foreign Direct Investment (FDI) and remittances on Economic Growth (EG), using panel data of seven countries from Central and Eastern Europe with a Gross Domestic Product (GDP) per capita under 25,000 $. The empirical literature stressed the relationships between FDI and remittances and economic growth, and our purpose is to identify if there are significant relationships between FDI, remittances and economic growth in the seven analyzed countries. We find a positive impact of both FDI and remittances on GDP, but the influence of FDI is higher in all analyzed states, with accepting the assumption of ceteris paribus principles in limiting research caused by other possible determinants.
Keywords: remittances; foreign direct investments; economic growth; panel data analysis; hierarchical cluster analysis (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:10:y:2018:i:1:p:238-:d:127506
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