Foreign investment and growth: A case of selected African economies

Michael Appiah (), Fanglin Li (), Doreen Idan Frowne () and Daniel Tetteh Donkor ()
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Michael Appiah: School of Finance & Economics, Jiangsu University, China,
Fanglin Li: School of Finance & Economics, Jiangsu University, China,
Doreen Idan Frowne: Faculty of Business, Koforidua Technical University, Ghana,
Daniel Tetteh Donkor: School of Business, University of Cape Coast, Ghana,

International Entrepreneurship Review, 2019, vol. 5, issue 3, 7-18

Abstract: Objective: The purpose of the study is to indicate how foreign investment impact on economic growth in some selected African economies. Research Design & Methods: The study employed the Panel ARDL (PMG) technique to estimate the impact of foreign investment proxy as FDI net inflows on Growth meas- ured as GDP per capita. Findings: The results of Panel ARDL indicate that foreign investment has a positive impact on economic growth as well as a positive sign of trade openness, inflation, and labor. The study stresses that for increasing economic growth there is a need to seek more foreign investments, increase trade openness and inflation at the same time improve upon employment conditions in selected African developing countries. Contribution & Value Added: The novelty of this research is in presenting and emphasizing the significance of FDI in some selected African countries on economic growth.

Keywords: foreign investment; emerging economies; economic growth; ardl; panel data (search for similar items in EconPapers)
JEL-codes: C23 F35 F63 (search for similar items in EconPapers)
Date: 2019
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