Relationship between FDI and Capital Flight (in Persian)

Zahra Afshari, Ahmad Yazdanpanah and Azadeh Rahmatizadeh
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Zahra Afshari: Iran
Ahmad Yazdanpanah: Iran
Azadeh Rahmatizadeh: Iran

Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), 2010, vol. 1, issue 2, 79-100

Abstract: In this research¡ the relationship between foreign direct investment (FDI) and capital flight in nine MENA countries was studied using panel data during the 1991-2006 Period. For this purpose¡ at first¡ capital flight was estimated by two conventional methods: i.e. Erbe and the World Bank and Morgan. The results of cointegration test show that¡ regardless of the methods of capital flight estimation there exists a long-run equilibrium between the above mentioned variables. Further more¡ the results reveal that there exists a significant and positive relationship between capital flights and FDI inflows for the period under consideration for MENA countries. Moreover¡ the above mentioned results are confirmed by applying both methods of capital flight estimations.

Keywords: Foreign Direct Investment; Capital Flight; MENA Countries; Panel Data (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:mbr:jmbres:v:1:y:2010:i:2:p:79-100

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